Medical expenses for people aged 65 or older are expected to reach 57.94 trillion won ($48.64 billion) in 2025, when the country is projected to become a superaged society, data released by the National Assembly’s Health and Welfare Committee showed Sunday.
The projected figure for 2025 is close to double the 31.6 trillion won recorded in 2018, according to the National Health Insurance Corporation data. The figure is expected to exceed 200 trillion won in 2045 and 337.1 trillion won in 2060. The estimates are based on a forecasting model used by the Organization for Economic Cooperation and Development.
According to the data, medical fees for senior citizens amounted to 4.54 million won per person last year, a steep hike from the 2.57 million won recorded in 2009.
By Choi Ji-won (firstname.lastname@example.org)