What Is Low-Deductible Health Insurance?
On August 10, 2015, the China Insurance Regulatory Commission issued Interim Measures for the Management of Individual Tax Preferential Health Insurance Business with Bao Jian Fa [2015] No. 82. The "Measures" are divided into General Rules, Operational Requirements, Product Management, Business Management, Financial Management, Information System Management, Information Disclosure, Supervision and Management, and Article 9 of Chapter 45, which shall be interpreted by the China Insurance Regulatory Commission and shall be implemented as of the date of issue. [1]
Interim Measures for the Administration of Individual Tax Preferential Health Insurance Business
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- On August 10, 2015, the China Insurance Regulatory Commission issued Interim Measures for the Management of Individual Tax Preferential Health Insurance Business with Bao Jian Fa [2015] No. 82. The "Measures" are divided into General Rules, Operational Requirements, Product Management, Business Management, Financial Management, Information System Management, Information Disclosure, Supervision and Management, and Article 9 of Chapter 45, which shall be interpreted by the China Insurance Regulatory Commission and shall be implemented as of the date of issue. [1]
- Notice of the China Insurance Regulatory Commission on Printing and Distributing the "Interim Measures for the Administration of Individual Tax Preferential Health Insurance Business"
- Bao Jian Fa [2015] No. 82
- Insurance regulatory bureaus, life insurance companies:
- In order to implement the spirit of the Ministry of Finance, the State Administration of Taxation, and the China Insurance Regulatory Commission's "Notice on the Pilot Work of Commercial Health Insurance Individual Income Tax Policy" (Caishui [2015] No. 56), to promote the healthy development of personal tax preferential health insurance business and protect the insured I will study and formulate the Interim Measures for the Management of Individual Tax Preferential Health Insurance Business. Is now issued, please follow the implementation. [1]
- Interim Measures for the Administration of Individual Tax Preferential Health Insurance Business
- Chapter I General Provisions
- The first is to promote the healthy development of personal tax preferential health insurance (hereinafter referred to as "personal tax premium health insurance") and to safeguard the legitimate rights and interests of all parties.
- "No denial of coverage" becomes the biggest highlight
- The "Interim Measures" stipulates that insurance companies shall operate personal tax premium health insurance in accordance with the requirements of long-term health insurance, and shall not refuse insurance based on the past medical history of the insured and guarantee renewal.
As the core of personal tax premium health insurance business, related product management principles are undoubtedly the focus of attention. Among them, the "no refusal to guarantee" rule has undoubtedly become the biggest bright spot. According to the "Interim Measures", insurance companies shall operate personal tax premium health insurance in accordance with the requirements of long-term health insurance, and shall not refuse insurance based on the past medical history of the insured and guarantee renewal.
- Large insurers or divisible dividends
- Aiming at the lag of commercial health insurance business, "tax benefits" are considered to be one of the most effective policy levers. In May 2015, the three major ministries of the Ministry of Finance, the China Insurance Regulatory Commission and the State Administration of Taxation jointly issued a notice clearly launching a pilot trial of personal income tax policies for commercial health insurance, which will be carried out in a central city in each region; individuals who purchase pilot commercial health insurance Expenditure on insurance products can be increased by up to 200 yuan per month from the tax collection point depending on the expenditure. [2]