Vietnam Overspends $103.89M on Health Insurance So Far This Year

Vietnam has overspent nearly VND2.5 trillion ($103.89 million) on health insurance since early this year, said Deputy Director of the Vietnam Social Insurance Nguyen Minh Thao. Of the total, VND1.3 trillion came from people participating in compulsory health insurance and VND1.2 trillion from children aged under six, the Sai Gon Giai Phong newspaper quoted Thao as saying Aug 5. The large price difference between maximum and minimum levels and payment for many health technical services were blamed for the overspending, Thao added. Up to 53 million Vietnamese people or 62% of its total population have bought health insurance policies so far. The social agency spent VND3.9 trillion to pay hospital costs for more than 23 million patients in the first quarter of this year, up 36% on year.  Vietnam targets to collect VND20 trillion from health insurance premiums this year, up 50% from a year earlier, and to provide health insurance services for all locals by 2014.