Medical insurance for foreign students

I. The Implementation of National Health Insurance for foreign students

■ Background

A. The implementation of NHI is now mandatory Under the revision of the National Health insurance law

B. Start Date : 1st of September, 2021

II.  A potential issue when the students apply for NHI only

▶ In case of death, There's no death benefit due to any sickness or accident

▶ In case of death, There's no refund costs of transportation, search and rescue, airfares

▶ In case the insured need it to be hospitalized due to a huge accident or sickness -The insurant can't go through the        admission procedure without guardian(Family member or Professor or Teacher or Acquaintance etc..)

▶ After the surgery or inpatient treatment, Foreign students need to pay the considerable expense of hospital fee in           person even some amount would be deducted by NHI

➜ Can't ask for the payment guarantee

▶ If the insured does not pay the entire hospital fee then the insured would be not allowed to leave the hospital. So the       guarantee will have to pay the fee instead

III. Accident case

▶ Here we have one foreign student, He was suffered from meningitis and one day he was fell down on the ground and       taken to the hospital. He got some medical treatments and as a result he needed it to pay 1,800,000 KRW even he         was a member of national health insurance.

➜ Fortunately he was also a member of students insurance, So he did ask for the payment guarantee services to the            insurance company and at last he paid the 30% of all hospital fee and left the hospital.

IV.  Recommended insurance plan for foreign students

■ Insurance period and premium

- SEPTEMBER 1st 2021 00:00 ~ MARCH 1st 202２ 00:00 (44,000KRW for 6 months)

- SEPTEMBER 1st 2021 00:00 ~ SEPTEMBER 1st 2022 00:00 (63,000KRW for 12months)

Coverage	Maximum	Coverage	Maximum
▪Accidental death and Disability	50,000,000KRW	▪Liability of Reparation	10,000,000KRW
▪Sickness death and Disability	10,000,000KRW	▪[Nonpayment] Manipulation	3,500,000KRW
▪[Domestic] Accident&Sickness Medical expenses of hospitalization	30,000,000KRW	▪[Nonpayment] Injection	2,500,000KRW
▪[Overseas] Accident&Sickness Medical expenses of hospitalization	30,000,000KRW	▪[Nonpayment] MRI/MRA	3,000,000KRW
▪ Evacuation / Repatriation	30,000,000KRW

■ Coverage & Maximum

★ If a foreign student only apply for the NHI, It could cause a serious economic losses due to

a huge accident. So for preventing this from happening We'd recommend students to apply

for medical insurance for foreign students.

Insurance Application ▶       http://n.foreignerdb.com/hannam