Leaders of Taiwan's six most powerful business and industrial groups representing employers are urging the government to increase its subsidy for national health insurance premiums to lessen the financial burden on business owners, reports the China Post.
The newspaper reveals that starting April 1, the NHI premium rate will increase to 5.17% from 4.55%--a rate hike that will cost businesses an additional NT$23.41 billion annually.
Chang Pen-tsao, chairman of the General Chamber of Commerce of the R.O.C. told the newspaper that employers currently pay 60% of the cost for their employees, while the individual's share is 30%. The government shoulders only 10% of total cost under the current “6:3:1” formula.
To address the problem, Chang suggests a new “5:3:2” formula in which employers will only pay 50% for employees' premiums and the government shoulders 20% of the cost.