Koreans feeling huge medical expenditure burden
23-Jul-15, Business Korea
The Ministry of Health & Welfare and the National Assembly Research Service compared the former’s Korean National Health Accounts and Total Health Expenditure data for 2014 to the OECD’s Health Data for the same year. They subsequently announced that the Korean government’s public financial resources accounted for 55% of the country’s national health expenditures in 2012. The average of the 34 OECD member countries was as high as 72%.
%20Business%20Korea.jpg "Koreans feeling huge medical expenditure burden (c) Business Korea")
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The public financial resources include taxes and social security funds such as the health insurance, occupational health and safety insurance, and long-term care insurance.
Korea ranked 31st among the 34 countries, followed by the United States (48%), Chile (49%) and Mexico (51%).