South Korea Health Insurance for Expats

International Health Insurance for Expats in South Korea

Expats are required by law to sign up with Korea’s National Health Insurance (NHI) system if staying longer than six months in the country. Foreign residents looking for access to private facilities and global coverage can purchase an international health insurance policy as well.

South Korea is an attractive location for expats with its top-quality medical system, but medical bills can accumulate quickly. Understanding your health insurance options before you relocate to the country is key to protecting yourself from expensive healthcare costs. 

This guide offers a practical summary of healthcare and insurance in South Korea, as well as options from health insurance companies for expats. Read on to learn more, or click the button below to obtain a no-obligation, free quote.

Recommended International Health Insurance Plans for Expatriates Living in South Korea

The Healthcare System in South Korea

South Korea has one of the most modern and developed healthcare systems in the world. Both the public and private sectors provide first-class levels of care and health treatments. Medical professionals across the country are all highly trained and experienced. 

Public health facilities provide excellent care, but wait times are often incredibly long. This is true even for emergencies. Since all South Koreans are required to sign up with the National Health Insurance (NHI), public facilities can grow crowded quickly. 

The NHI supplies healthcare coverage to all South Korean residents, with the Medical Aid program covering the remaining small percent of the population who are low-income. We will discuss the National Health Insurance system in greater detail below.

South Korea’s Public Hospitals

South Korean public hospitals such as Seoul National University Hospital and Samsung Medical Center are known for their excellent facilities and services. However, they may be subject to extensive waiting lists and bottlenecks, depending on the area and population density.

Listed below are highly recommended public hospitals for locals, expats, and visitors due to their excellent facilities and services:

• Asan Medical Center (Seoul): Asan Medical Center is renowned for its advanced medical technology and specialized departments. It ranks highly for patient care, offering a wide range of treatments and attracting international patients for complex surgeries and specialized care.
• Seoul National University Hospital (Seoul): This hospital is respected for its comprehensive medical services, including specialized treatment centers and an international clinic. It provides top-tier services and has a strong reputation for advanced medical research and expertise.
• Seoul National University Bundang Hospital (Seongnam): This hospital, associated with Seoul National University, offers specialized treatments and facilities, including state-of-the-art surgical and diagnostic equipment. It serves a large international community with resources for foreign patients.

South Korea’s Private Hospitals

South Korea's private hospitals are highly regarded for their state-of-the-art facilities, personalized patient services, and focus on international patient care. If you’re looking for English-speaking doctors and shorter wait times, private hospitals are recommended. 

Here’s a list of some top private hospitals in South Korea for expats and visitors:

• Samsung Medical Center (Seoul): This hospital is known for its advanced medical technologies and services across a wide range of specialties, including oncology, cardiology, and neurology. Located in Gangnam, Samsung Medical Center is popular among international patients.
• Severance Hospital, Yonsei University (Seoul): As one of Korea's oldest Western-style hospitals, Severance is well-equipped with specialized centers for various treatments and has an International Health Care Center providing English-speaking staff. 
• CHA University Medical Center (Gangnam): Known for its services in fertility treatments, women’s health, and specialized therapies, CHA University Medical Center is one of the top choices for medical tourists seeking personalized care in these areas. 
• Seoul St. Mary’s Hospital (Catholic University of Korea, Seoul): This hospital offers comprehensive care in several specialties, with particular strengths in cancer treatment and organ transplantation. St. Mary’s provides extensive support for international patients, including interpreter services.
• Kangbuk Samsung Hospital (Seoul): Located in Jongno-gu, this hospital is appreciated for its convenience and efficient services. It offers various screening and checkup programs tailored for international patients and has English-speaking staff to assist with navigation and medical consultations.

Health Insurance Options for Expats in South Korea

In South Korea, expatriates are given the choice to opt into public health insurance or private health insurance. Private health insurance is strongly recommended to cover exorbitant medical costs, especially for specialized treatments offered by the most prestigious hospitals in South Korea.

Public Health Insurance in South Korea

All foreigners residing in South Korea for longer than six months are required to enroll in NHI. Expats working for South Korean companies with more than five foreign employees will be automatically enrolled in NHI through their employer.

The NHI system is run by the Ministry of Health and Welfare and is available for every resident in the country regardless of nationality, background, or profession, including expats. It is funded through government subsidies, tobacco surcharges, and other contributions.

Private Health Insurance in South Korea

Private insurance is available through local insurance companies or international insurance companies. Expats with chronic illnesses or special medical needs will especially value private policies for the benefit of lowering copayment charges.

While private insurance won’t change the cost of medical procedures, it will subsidize the out-of-pocket payment required when using the NHI. International insurance is a popular choice with expats for private policies. This is due to their global benefits and comprehensive coverage.

International insurance policies can be purchased through travel insurance or health insurance policies. Travel insurance covers medical costs in case of accidents or sickness, as well as lost baggage or rescheduling fees. Travel insurance is generally short-term.

Expats looking to move to India will need a longer-term, more inclusive solution for healthcare. This is precisely what international health insurance provides.

Best International Health Insurance for Expats in South Korea

The top international health insurance providers such as Cigna, NOW HEALTH, MSH, April, and GeoBlue will offer plans for expats in South Korea with comprehensive coverage and customizable benefits.

Here is a list of the best international health insurance providers in South Korea:

• Cigna
• NOW Health
• MSH International
• April International
• GeoBlue

International Health Insurance in South Korea - Plans and Coverage

The best international health insurance companies for expats in South Korea include Cigna, BUPA Global, and more. We will offer a brief overview below of each provider and the key points and benefits of their plans and coverage. 

Cigna

Cigna Global provides flexible insurance plans to expats in South Korea with 24/7 access to a customer care team. Their plans are both customizable and comprehensive.

Cigna has Silver, Gold, and Platinum plans with different levels of coverage and limits. All three of these plans share several common key coverage benefits:

NOW Health

NOW Health International offers expats in South Korea comprehensive health insurance solutions, as well as providing plans for international students. They offer online claim processes through a mobile app and provide other prompt online support.

They have several different tiers of plans: WorldCare Advance, WorldCare Excel, and WorldCare Apex. These plans differ in annual limits and coverage options.

These are the key benefits shared across all three benefits:

MSH International

MSH has almost 50 years of experience in providing health insurance to expats and their families. With features like online claim reimbursement and medical teleconsultations, they are dedicated to their members' support and wellness.

Their insurance plans come in differing levels from Quartz to Diamond, with the most expensive plan offering the highest coverage limits and additional benefits. Here are some of the basic features across their plans:

April International

April International has over 30 years of experience in the international health insurance market. They provide both comprehensive and flexible plans to expats while in South Korea. They provide varying levels of coverage, fully customizable policies, and a wide direct billing network.

They offer different levels of coverage in four plan options: Core, Essential, Extensive, and Elite.

Some of the shared coverage across their plans are:

GeoBlue

GeoBlue offers an Xplorer health insurance plan that comes in essential or premier. These plans were created for expats traveling from the United States for business, leisure, or study trips. Expats can choose plans that include the United States in their coverage or not.

Both plans have several deductible options. Some shared features across all levels of plans are:

Factors to Consider When Choosing Health Insurance in South Korea

When choosing health insurance as an expat in South Korea, it’s important to consider comprehensive coverage, pre-existing conditions, supplemental insurance, international and travel coverage, benefit limits and cost-sharing, and claims support. 

Here are some key considerations to guide your decision-making:

• Comprehensive Coverage: Consider plans that cover essential needs such as inpatient, outpatient, and emergency services. Unlike South Korea's National Health Insurance (NHI), private plans may provide more extensive coverage for additional needs like dental, vision, and maternity care.
• Pre-existing Conditions: Different insurers handle pre-existing conditions in various ways. Some insurers offer coverage for pre-existing conditions with specific waiting periods, while others exclude these conditions entirely or adjust premiums accordingly​.
• Supplementary Insurance: While the NHI covers most core medical expenses, private insurance can help bridge coverage gaps, particularly for specialized treatments, high-cost services, and private hospitals, which may be preferred for their amenities and shorter wait times​.
• International and Travel Coverage: If you travel frequently, international coverage is beneficial. Plans offering global coverage ensure you can access quality care outside South Korea and may include emergency evacuation and repatriation services​.
• Benefit Limits and Cost-sharing: Many plans involve cost-sharing components such as deductibles, co-pays, or benefit limits. Evaluating these limits is essential, as they directly impact out-of-pocket expenses, especially in emergencies​.
• Claims Process and Language Support: Opt for insurers that provide simple claims processes and support in English. Many private plans offer direct billing options, which is especially helpful if you prefer not to pay upfront and seek reimbursement later​.

Additional Benefits and Coverage for Expats in South Korea

Most insurance plans allow additional coverage options to extend expats’ benefits during their time in South Korea. This could cover things like dental, optical, maternity, and more.

• Dental: Dental check-ups, cleanings, and major dental procedures can be covered by additional benefits.
• Maternity and family coverage: Expats looking to expand their family can customize international health insurance plans to cover prenatal care, childbirth, and postpartum care. There are also additional benefits to cover the newborn.
• Preventive care: Some plans will offer regular health checkups, screenings, vaccinations, and wellness programs. This can be a great benefit as South Korean healthcare focuses more on curative care than preventive care.

Pre-existing Conditions for Expats in South Korea

Expats with pre-existing conditions may have fewer options when buying international insurance in South Korea, but there are still solutions available. You can choose a plan with a pre-existing condition exclusion, a moratorium, or coverage with loading.

Here is a general overview of what each term means:

• Exclusion: The insurer will not pay or reimburse the policyholder for medical bills related to the condition if they choose to buy a plan from them.
• Moratorium: The insurance company offers health insurance but excludes pre-existing condition coverage. The company then observes the pre-existing condition for a specific time known as the waiting period. This period is usually 24 months, and the insurance company reviews its decision.
• Coverage with loading: Insurance companies may offer coverage for pre-existing conditions, but only with higher premiums. Not all pre-existing conditions are eligible for this kind of coverage, and not all companies offer this option.

Retirees Seeking International Healthcare in South Korea

Expats retiring in South Korea should buy an international health insurance plan that offers comprehensive and flexible coverage for their unique needs. This may include coverage forcancer screenings, chronic conditions support, andpreventative health benefits.

Reach out toPacific Prime to hear all ourinternational insurance plans for retirees in South Korea. We can help secure a plan with excellent coverage for your needs, as well as provide access to all the best private facilities.

How Expats Can Use Healthcare Services in South Korea

Expats can use any healthcare clinic or hospital in South Korea, but they will pay 100% of the cost unless they are covered by the NHI or a private health insurance policy. Expats can make an appointment online at the hospital or clinic website.

Hospitals are typically the first stop for all sicknesses, regardless of how mild. Each hospital in Korea has its own website, which expats can use to find a provider. English-speaking doctors are common in South Korea, especially atinternational hospitals.

Frequently Asked Questions

Do expats need to enroll in the National Health Insurance (NHI) system in South Korea?

All expats living in South Korea for more than six months are legally required to enroll in the NHI. This enrollment typically provides access to South Korea's high-quality public healthcare system, though there are costs involved, including monthly premiums and copayments.

How does international health insurance benefit expats in South Korea?

International health insurance can be advantageous for expats who want access to private healthcare facilities, shorter wait times, and coverage for services not included in the NHI, like dental or maternity care. It also offers global coverage.

Is healthcare in South Korea expensive for foreigners?

South Korea's healthcare is generally more affordable than in many Western countries, but costs can accumulate quickly, especially for specialized treatments or private care. Foreigners enrolled in the NHI pay monthly premiums and copayments, which can amount to around 20% or more of medical costs.

Conclusion 

Expats residing in South Korea for longer than six months are required to enroll with the NHI, but international health insurance remains a valuable option for expats looking to extend their coverage and benefits.

With extensive years of experience throughout the world, Pacific Prime can assist you with any health insurance needs in South Korea. Leveraging our close relationships with major insurers all over the world, we offer professional advice and free plan comparisons to our clients.

No matter what your budget is or what your requirements are, our professional consultants can match you with a policy that best fits you. Please contact us today for a free consultation.