COVID-19 is an Emerging Rapidly Evolving Situation South Korea is one of the world’s most rapidly industrializing countries. Along with industrialization has come universal health insurance. Within t
COVID-19 is an Emerging Rapidly Evolving Situation South Korea is one of the world’s most rapidly industrializing countries. Along with industrialization has come universal health insurance. Within t
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COVID-19 is an Emerging Rapidly Evolving Situation
South Korea is one of the world’s most rapidly industrializing countries. Along with industrialization has come universal health insurance. Within the span of 12 years, South Korea went from private voluntary health insurance to government-mandated universal coverage.
Since 1997, with the intervention of the International Monetary Fund, Korean national health insurance (NHI) has experienced deficits and disruption. However, there are lessons to be drawn for the United States from the Korean NHI experience.
SOUTH KOREA ACHIEVED universal health insurance in 12 years. This remarkable achievement started modestly in 1977 when the government mandated medical insurance for employees and their dependents in large firms with more than 500 employees. In 1989, national health insurance (NHI) was extended to the whole nation. Most Western analysts were surprised. Many predicted Korean NHI would falter financially, but trends in financial receipts and disbursements from 1990 to 1995 showed no sign of financial instability. Everything went