INSURANCE | Staff Reporter, China

China inks medical insurance fund regulation

It decrees that medical funds should focus on public health.

Chinese Premier Li Keqiang has signed a state council decree unveiling a regulation on the supervision and management of China's medical insurance funds, reports Xinhua News Agency.

This applies to the basic medical insurance fund, maternity insurance fund, medical assistance fund, amongst others.

The regulation stipulates that the use of medical insurance funds should focus on public health and follow the principles of legality, safety, openness, and convenience.

The supervision and management of medical insurance funds shall combine government oversight, public supervision, industry self-discipline and individual trustworthiness, it added.

It also encouraged the media to promote the laws, regulations, and knowledge of medical insurance and monitor public opinion concerning the use of the funds.

The regulation was passed in December and will take effect on 1 May.

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