Tuesday, 12 March 2013

Insurance industry will give farmers better medical insurance, says PICC boss

"As urbanization in China accelerates, many problems tend to manifest," according to Wu Yan, chairman of the board of The People's Insurance Company (Group) of China, in his proposal on Chinese People's Political Consultative Conference sessions.
"China faces low urban carrying capacities and a widening rural-urban gap. People in urban and rural regions don't have equal access to basic public services. These problems will hinder China's urbanization process," The Economic Observer reported citing Wu.
The insurance industry has the capacity to assist the government in coordinating rural-urban development and improving security services and social management, Wu said.
In Wu's proposal, he expects the insurance industry to provide farmers with better medical and old-age insurance, public security services and financial support, which are conducive to rural-urban transformation.
The main priority in Wu's proposal is to assist governments in extending rural medical security coverage. Wu called for more joint medical insurance programs applied in Zhanjiang in Guangdong province and Taicang in Guangxi province.
For example, since April 2011, a PICC subsidiary company has been working with the local government of Taicang city in Chinese southeastern Jiangsu province. The government covers the insurance for all citizens registered in the medical insurance system and PICC gives patients back more than half of the amount that goes over 10,000 yuan.
PICC provides insurance for rural and urban patients with the same insurance quota. It signals China's move toward the application of a single nationwide medical security policy, according to Wu.
Source: China Daily

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