Provisional Reduction of Basic Employee Medical Insurance Premiums
10 March 2020
Starting from February, all Chinese provinces, autonomous regions and municipalities are permitted to instruct their insurance fund pools to reduce by half employee medical insurance contributions for up to five months.
In principle, those places with a cumulative balance in their medical insurance funds sufficient to pay for more than six months may reduce the premiums. In places where the funds are sufficient to last less than six months but where the premium cut is deemed necessary, provisions allow arrangements to be made by the relevant provincial authorities. The deferred payment policy may, in principle, continue for up to six months and overdue surcharges will be exempted during this period.
The above measures have been introduced in line with the directives of the central government on combatting the Covid-19 outbreak, reducing the burden on enterprises and supporting enterprises to resume work and production.
Full details can be found in the Guiding Opinions on the Provisional Reduction of Basic Employee Medical Insurance Premiums (Yi Bao Fa No. 6 ), issued jointly by the National Healthcare Security Administration, the Ministry of Finance and the State Taxation Administration.
Source: National Healthcare Security Administration
- Mainland China