More Salaried Workers Earn Fat Extra Incomes
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The number of salaried workers who earn massive outside income is rising.
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According to the National Health Insurance Service on Sunday, 45,961 people paid extra health insurance fees because they earned over W72 million last year from sources other than their salary (US$1=W1,064). That is 0.3 percent of the total 16.82 million people who subscribe to national health insurance through their work.
The number has been on the rise from 32,818 in 2012 to 43,572 in 2016. Their extra income comes mostly from interest, dividends or rent.
Some 1,793 salaried workers paid W2.39 million as their additional income exceeded a whopping W78.1 million a month, while some 3,990 people paid it because their monthly salary itself exceeded W78.1 million.
From July this year, the threshold for extra fees will be lowered to W34 million a year, which means 130,000 more salaried workers will have to pay extra.
The threshold will be lowered again to W20 million in July 2020, adding an estimated 260,000 more people.