1. Introduction to Labor Insurance:
When labor insurance was launched in 1939, its scope of protection included five types of benefits, including injury, disability, maternity, death, and old age, and it was stipulated that various benefits could be implemented in installments depending on actual needs.
Amendments to some provisions of the Labor Insurance Regulations were passed by the Legislative Yuan on July 17, 1997, announced by the President on August 13, and the Executive Yuan ordered on October 9 that the Labor Insurance Annuity will come into effect on January 1, 1998 . Before that, the labor insurance offered cash benefits that included: maternity, injury or sickness, disability, old-age and death benefits. After the implementation of labor insurance pension program, monthly pension approach for claiming disability, old-age and death benefits have been added ,which are “old-age pension benefits”, “disability pension benefits” and “survivor pension benefits”. Through the implementation of the labor insurance pension scheme, laborers will obtain more complete labor insurance protection.
2. Premium rate and premium sharing
According to Article 13 of the Labor Insurance Regulations, starting from January 1, 2011, the labor insurance premium rate is 10.5%.
In case of an insured worker with a definite employer, 70 percent of the labor insurance premiums are paid by the employer, 20 percent by the insured worker, and 10 percent by the government.
If the insured unit fails to bear the insurance premium of the insured in accordance with regulations, and the insured bears it, it shall be fined twice the amount of the insurance premium that should be borne. The insured unit shall return the premium to the insured.
Workers: Labor insurance premium = insurance salary * 10.5% * 20% / 30 * number of insurance days
Units: Labor insurance premium = insurance salary * 10.5% * 70% / 30 * number of insurance days
How to cleverly use Workstem Formula Engine for one-click calculation?
The following formula can realize one-click calculation:
Labor insurance personal self-pay:
value = insurance salary*0.105*0.2*/30* PayRunPeriodInSerCalDays()
Labor insurance employer burden:
value = insurance salary*0.105*0.7*/30* PayRunPeriodInSerCalDays()
Introduction to Farmer's Health Insurance
The insured accidents of farmers’ health insurance are divided into five types: injury, disease, maternity, disability and death, which are respectively given to “medical benefits and cash benefits”. The former includes injury benefits and disease benefits, and the latter includes maternity, disability and funeral benefits, of which cash benefits compared with the trial period, the disabled payment item was added (it was changed to the disabled payment after January 29, 1999), and the funeral allowance was increased from 5 months to 15 months.
Premium rate and premium sharing
Premium rate: After the national fitness program was implemented on March 1, 1984, the premium rate for rural security was approved at 2.55%.
The premium rate of Farmer's Health Insurance is prescribed by the competent central authorities and approved by the Executive Yuan, ranging from six percent to eight percent of the monthly insured amount of the insured person,subject to approval of the Executive Yuan.
After the launch of National Health Insurance program from March 1st, 1995, the premium rate is set at 2.55 percent with a monthly insured amount of NT$10,200. Thirty percent of the premiums are paid by the insured person with the remaining seventy percent paid by the government.
The formula of the monthly premium is: monthly insured amount x premium rate x percentage of the premiums paid by the insured person. Monthly insurance premium payable by insured person =10,200x2.55%x30%=NT$ 78.