Back to list 2016-02-23 13:35:08

As the leading representative of the premier private health insurance market, MSH CHINA's Insurance and Reinsurance Relationship Director Ms. Salina Shi and Corporate Risk Management Manager Mr. Kay Yang were invited to attend a conference organized by China Pacific Insurance to discuss healthcare solutions for corporate clients centered on the individual income tax exemption policy for private commercial health insurance.  At the conference, industry experts discussed the positive knock-on effect and the future potential that tax efficient health insurance has on insurance consumption and on the development of the private health insurance market. Currently, MSH CHINA provides middle to high-end health insurance solutions, either on a corporate or individual basis, in the high-income group as well as the fast growing middle class. While providing quality medical security, our clients are also assured of a simple and convenient medical experience with our vast network of direct billing medical providers backed by a strong professional service team. 

As one of the insurance underwriters of MSH CHINA, China Pacific Insurance is the first in the industry to announce the specifics of health insurance products that are compatible with the new tax exemption policy. Coming under the national limelight, the conference heralds the transition from the new pilot Individual Income Tax (IIT) policy making to actual product development on private health insurance.

At the conference, the organizer shared in detail the policy of tax exemption health insurance, regulations relating to promotional activities, group policy insurance plans as well as related management systems and possible mobile applications.

From January 1, 31 cities participated in an extended pilot program to allow individuals an income tax exemption for purchasing private health insurance. In pilot areas, private health insurance expenditure incurred by individuals will benefit from tax exemption, up to a limit of RMB2,400 (USD370) per year. The relief will be available to those who are at least 16 years old and under retirement age.