TOKYO, May 12 (Xinhua) — The Japanese parliament on Friday handed payments to extend medical insurance premiums for these aged 75 or over who’re categorized as middle- and high-income earners.
The change was a part of a plan to distribute the monetary burden of the nation’s social safety system extra evenly amongst totally different generations.
People aged 75 or over who obtain over 1.53 million yen (11,360.71 U.S. {dollars}) in annual pension advantages, or round 40 % of people on this age group, will expertise a gradual improve in premiums beginning within the fiscal yr 2024 which begins subsequent April.
The Japanese authorities goals to make use of the income generated from these modifications to finance its lump-sum childbirth allowance program, which is presently largely funded by the working-age inhabitants, in line with native media reviews.
To this finish, 7 % of the prices of offering childbirth advantages can be lined by the aged medical insurance system. The childbirth profit was elevated to 500,000 yen per baby in April. (1 U.S. dollar equals 134.68 Japanese yen)