The Cabinet has passed a draft bill that will pave the way for long-term care insurance in Taiwan. The bill is expected to go into effect in 2018, pending legislative approval.
Under the draft bill, which was passed on Thursday, premiums in the social insurance program will be set at 1.19% of an individual’s monthly salary. Employers will be required to pay 40% of the insurance premiums, while the government and the individual will pay 30% each.
Every citizen with a household registration in Taiwan will be required to participate in the program, beginning on the day in which it is put in place.
The draft bill also stipulates that those who are left incapacitated for more than six months will receive priority when it comes to health care or community care services, and that their premiums will be slashed in half.
The government is also planning to raise the surcharge on tobacco products and to revise the property tax bill to fund the program.