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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.