Inflated health insurance claims recorded ₩650 bil. in 2019

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Inflated overall health insurance policy statements by sufferers who experienced only minimal injuries in targeted visitors incidents recorded 650 billion won ($532 million) in 2019, governing administration info showed.

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On Sunday, the Korea Insurance plan Research Institute (KIRI) released a report stating wrong wellness insurance coverage statements reached 111.5 billion gained in 2019 amid statements by sufferers with Grade 12/14 delicate injuries.

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Inflated wellness insurance policy promises by clients who experienced small injuries in traffic accidents recorded 650 billion won in 2019, federal government knowledge confirmed.
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The institute explained that exaggerated insurance policies promises by gentle injuries sufferers recorded 535.3 billion gained. These inflated treatment method fees are variances in between vehicle coverage health care expenses for gentle injuries patients and overall health insurance charges for moderate injury clients.

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Overall health insurance policy expenditures have been calculated by multiplying the range of times of remedy for sufferers with health and fitness insurance policy for spinal sprains and mild bruises of the extremities, which are regular injuries for vehicle insurance patients, by the professional medical fees for auto insurance coverage individuals with gentle accidents.

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The institute stated that false health insurance plan promises and inflated well being insurance policy statements accounted for 11.1 per cent and 53.5 per cent of the whole car or truck insurance coverage claims by sufferers with gentle accidents.

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In other text, 64.6 % of the vehicle coverage claims by clients with gentle injuries were prompted by extreme procedure in 2019. If the 646.8 billion received inflated insurance coverage promises are divided by per-capita well being insurance policy premiums, it interprets into 31,200 received for each individual.

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Jeon Yong-sik, a senior study fellow at KIRI, predicted that insurance plan rates for own injuries payment would boost promptly thanks to the Covid-19 pandemic and growing inflation brought about by Russia’s invasion of Ukraine.

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“Higher unemployment costs and increasing client costs press up the price of preserving a motor vehicle, so people today appear to have a even larger desire for payment in an incident,” Jeon stated. “The instability in the worldwide financial system is possible to persist, and this will have a destructive impression.”

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The nation wants an advancement in the payment process to curb the upward development of well being coverage rates, pushed up by increases in insurance payments and overtreatment, he went on to say.

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Also, he included that the government has to learn complications in the auto insurance method that induces too much remedy for patients with gentle injuries.