ROC Cabinet OKs long-term care insurance bill

2015/06/08

A long-term care insurance bill expanding Taiwan’s social welfare net was approved June 4 by the Cabinet, paving the way for the ROC to become one of the few countries in the world offering such state-sponsored benefits.

Under the legislation proposed by the Ministry of Health and Welfare in October 2014, the cost of long-term care services will be shared by employers, employees and the government at 40 percent, 30 percent and 30 percent, respectively.

For the self-employed, this will be split 60-40 with the government, while the rest of the population is subject to the same rate schedule as the National Health Insurance system.

The MOHW estimates that for an individual earning NT$50,000 (US$1,610) per month, a premium of NT$180 entitles them to institutional services worth around NT$20,000 a month. For those opting for home care, the plan provides supportive services such as caretaker training, counseling, respite care and visitations.

An MOHW official said the bill is being fast-tracked for legislative review and, if everything goes as planned, it is expected to take effect in 2018 and benefit 820,000 individuals nationwide.

“We also forecast the policy generating tremendous economic benefits, boosting private investment and employment opportunities in related sectors, while enhancing service quality,” the official added.

The legislation follows the long-term care services bill that cleared the legislative floor last month. A key policy in response to the country’s fast aging population, the bill prioritizes development of long-term care capabilities for ROC nationals with at least six months of documented conditions.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=231204&ctNode=413)