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China's medical insurance to cover all urban residents by 2010 (2) |
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14:33, August 15, 2007 |
The central government held the contribution rate should be at a low level at the beginning, and the participation in the insurance plan is based on the free will of the residents.
It also encouraged local governments to set different contribution rates for adults and children, and to link the rates with the income of policy holders.
Hu said the premiums would be paid by households, instead of individuals, and the government would give subsidies up to no less than 40 yuan (5.3 U.S. dollars) each person annually for those who participate in the insurance program in pilot cities, and low-income families and disabled ones would get extra subsidies.
Both the central government and local governments would fund the subsidies, and China has the capability to finance the project which aims to cover all residents by 2010, with its rising fiscal revenue on the back of a fast-growing economy, Hu said.
The project would mainly cover expenses of residents for hospitalization and major illnesses, said Hu, as the greatest medical risks confronting Chinese people are big illnesses
China has established a medical insurance system for urban employees in 1998, and a new cooperative medical care system in 2003 designed to cover all rural residents.
Source: Xinhua
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