Taiwan to strengthen long-term care for elderly

2014-08-26

The government is planning a major overhaul of long-term care for seniors in Taiwan, with a view to expanding private sector participation in a market potentially worth NT$3 trillion (US$100 billion).

The Cabinet is set to launch a range of initiatives to strengthen long-term care to deal with the rapidly aging population, including transforming institutions providing related services into social enterprises and upgrading the National Health Insurance system.

It is estimated that approximately 720,000 people in Taiwan will require long-term care services in the next decade, but there is provision for only around 80,000 under the 10-year plan launched by the Ministry of Health and Welfare in 2007.

“The number of elderly people is expected to top 14 percent by 2018, making Taiwan an aged society,” an MOHW official said.

A long-term care insurance program being drafted by the ministry proposes splitting expenses between employers, employees and the government at 60 percent, 30 percent and 10 percent, respectively.

Overall scale of the scheme will be about one-fifth the size of the NHI, or an estimated NT$100 billion to NT$120 billion, according to the MOHW. The ministry is due to debate the initiative Aug. 26, with the draft act to be finalized by the end of September.

The Cabinet is also working with the ministries of economic affairs, finance and labor to address the shortfall in long-term care services. The MOF plans to introduce private sector capital, including from life insurance companies, into Taiwan’s long-term care industry.

Expansion of the MOEA health industry development scheme is also under consideration, incorporating information and communications technology into customized health services. Investments totaling NT$1 billion are expected to be made by year-end 2015.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=220976&CtNode=413)