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Korea to Increase National Health Insurance Rate in 2022 - activpayroll

Written by activpayroll | Dec 15, 2021 12:00:00 AM

From 1 January 2022, the National Health Insurance (NHI) contribution rate will increase from 3.43% to 3.495%.

Currently: 3.43% of average monthly salary for the employer and the employee, respectively (6.86% in total)

From 1 January 2022: 3.495% of average monthly salary for the employer and the employee, respectively

In addition, the Long-Term Geriatric Care Insurance contribution rate will increase from 1 January 2022 from 11.52% to 12.27%.

Taking the Long-Term Geriatric Care Insurance rate into consideration, the total contribution rate for NHI for the employee and employer will be 3.923837%, respectively.

Please note, as paying the insurance contribution is the duty of the employer and the employee, if either party fails to pay their contributions, the National Health Insurance Service may take legal action in order to collect the funds. Payment is due by the 10th of the following month (every month).

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