On May 20th, the Jiangsu Financial Regulatory Bureau announced the launch of the province’s first inclusive commercial supplementary care insurance in Nantong. This innovative insurance product extends care coverage to include specific disease hospitalization, accidental hospitalization, post-discharge care for specific diseases, home care coverage, and online drug purchase coverage. It effectively fills the “blank coverage period” of policy-based long-term care insurance. The premium standard is set at 198 yuan per person per year, and all participants of the basic medical insurance in Nantong City are eligible to purchase the insurance.
Features of “Nantong Care Insurance”
A person in charge of the Nantong Financial Regulatory Bureau introduced that the first inclusive commercial supplementary care insurance in the province is named “Nantong Care Insurance.” It is an innovative pilot project specifically undertaken by PICC Health under the supervision and guidance of the bureau and the Nantong Medical Security Bureau. The main features of this insurance are universality, accessibility, availability, convenience, and complementarity.
Insurance Purchase Options
“Nantong Care Insurance” supports two methods of purchase: online and offline. The insurance period is one year. This insurance does not distinguish by age or pre-existing conditions, making it accessible to all participants of the basic medical insurance in Nantong City. However, the insurance coverage for inpatient care and home follow-up care after discharge for specific diseases is only available to those under 70 years old without pre-existing conditions.
Dual Protection and Claims Settlement
The product offers dual protection of care and medicine purchase, with a focus on providing care services as the main form of insurance protection. Unlike traditional economic compensation methods, it meets the needs of disabled families for care services more effectively. The claims settlement process is also convenient. In addition to choosing subsidies for nursing care, direct compensation is provided for nursing services and online outpatient drug purchases. Expenses within the coverage are directly settled by PICC Health Company and the service provider, with the insured only needing to bear the nursing or drug costs they are responsible for.
Supplementary Benefits
As a beneficial supplement to the current policy-based long-term care insurance in Nantong City, “Nantong Care Insurance” has increased the service duration and frequency of home care services for those who have been assessed as moderately or severely disabled (currently enjoying the care insurance benefits in Nantong). It also provides in-hospital care services and continuous care services after discharge for temporarily disabled individuals.
Future Outlook
The launch of “Nantong Care Insurance” marks a significant step in enhancing the care insurance system in Jiangsu Province. It aims to provide more comprehensive and accessible care services to the residents of Nantong, improving the quality of life for those in need of long-term care. This initiative is expected to set a precedent for other regions in China looking to expand their care insurance offerings.
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