Medical Costs for Elderly Soar to Over W30 Trillion

Published on 2019/11/10 | Source

Medical costs for the elderly surpassed W30 trillion mark for the first time last year (US$1=W1,158).

According the Health Insurance Review and Assessment Service, medical costs for people over 65 reached W31.83 trillion last year, up 12.4 percent from a year before and 2.1 times the amount in 2011.

The elderly population reached 7.09 million as of last year, or 13.9 percent of the total population, but their medical costs accounted for 40.8 percent of total health spending, which stood at W77.91 trillion.