Four Major Social Insurance Schemes | Update 2022 Korea
Updated: Sep 5
The four major insurances (4대보험) are employment insurance, industrial accident compensation insurance, national pension, and national health insurance.
Type of Social Insurance
Health Insurance
Improve public health and promote social security by covering healthcare service cost, such as preventative treatment, diagnosis, treatment, rehabilitation, injuries, childbirth and death.
Health insurance benefits have two kinds:
Benefits in kind: Health care benefit, Health checkup
Benefits in cash: Leasing or purchase of assistive equipment cost for the disabled, reimbursement based on the co-payment ceiling system, when a childbirth take place home or the other places rather than hospitals, the cost are given.
National Pension
Secure the retirement benefits of Korean citizens with income security, thereby promoting national welfare in the case of retirement, disability or death.
Industrial Accident Compensation Insurance
Contribute to the improvement of workers’ quality of life through providing optimal workers’ compensations, rehabilitation supports and welfare services
Care benefit, Temporary incapacity benefit, Disability benefit, Nursing benefit, Survivor benefit, Funeral expenses reimbursement, Injury and disease compensation pension will be provided
Employment Insurance
Contribute to the improvement of workers’ quality of life through providing temporary income support to unemployed workers during job searching or upgrading skills
Unemployment benefit, and maternity and parental benefits are provided
Long-term care insurance (additional insurance)
To support senior citizens who have difficulty in daily living due to geriatric diseases, or cerebrovascular disease
Home-based benefits and institution-based benefits are provided
Contribution Rates
Reference :
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