Feb 16 β€’ 11:10 UTC πŸ‡―πŸ‡΅ Japan Asahi Shimbun (JP)

Online Submission Obligations for Financial Income by Financial Institutions to Reflect on Insurance Premiums for Those Aged 75 and Older

New regulations will mandate online reporting of financial income by financial institutions for individuals aged 75 and older, affecting their medical insurance premiums.

The Asahi Shimbun reports on a reform proposal concerning Japan's healthcare system that will affect individuals aged 75 and older. The proposal, which outlines several amendments to the Health Insurance Act, will require financial institutions to report the financial income of senior citizens, such as dividends from listed stocks, to local governments online. This system aims to enhance the transparency of the calculation of health insurance premiums based on the financial means of the elderly, thereby making the system more equitable.

In addition to the reporting obligations, the reform includes significant measures such as the introduction of a new system to eliminate childbirth costs for citizens. These changes indicate a broader movement within the Japanese government to reassess social welfare structures, particularly as they relate to the increasing needs of an aging population. The proposals are set to be presented to a special session of the National Diet on the 18th, following intra-party deliberations and cabinet approval.

Furthermore, the proposal suggests imposing additional out-of-pocket expenses for patients prescribed over-the-counter (OTC) similar medicines that resemble those dispensed by physicians. This move has led to discussions about cost-sharing in Japan's health system amid rising healthcare costs due to demographic changes. If implemented, these changes could significantly reshape the financial landscape of healthcare for the elderly in Japan.

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