Insurance in Korea: Your Complete Guide by Visa Types

Hello, EEUTs!

This is my first time introducing myself on The Pylon Club. I'm Yang Hyunjun, a financial consultant. 😊

How familiar are you with insurance in Korea? 👀🏥

Insurance is a financial safety net designed to reduce the economic burden from unexpected accidents.

However, with so many types and complex terms, it's natural to wonder which insurance is truly necessary and what premium range is reasonable.

If you could only get one insurance in Korea, I'd recommend Silson Boheom (실손보험, Real-loss medical insurance). 👍

Almost every Korean has Silson Boheom because it's the most practical insurance for everyday life—offering benefits you can actually use regularly.

Today, I'll explain what Silson Boheom is and which insurance options are available based on your visa type.

Insurance Eligibility by Visa Type

This is what you're probably most curious about! Depending on your visa type, you may have full, limited, or no access to insurance in Korea.

If You Only Get One Insurance? Silson Boheom

If you're planning to get just one insurance policy, I recommend Silson Boheom—the most basic coverage, just like for Koreans.

Silson Boheom (실손보험, Real-loss medical insurance), also called Silbi Boheom (실비보험), compensates you in proportion to your actual medical expenses. It's a renewable policy, meaning premiums may adjust each year slightly.

The policy renews every 5 years, and at renewal, the contract is either renegotiated or automatically extended. If the insurance structure changes at renewal, you'll be enrolled under the new terms.

📌 Requirement: National Health Insurance

To get Silson Boheom, you must be enrolled in or eligible for National Health Insurance (Geongangboheom, 건강보험).

If you're not enrolled in National Health Insurance, your application may be rejected. Even if approved, your coverage rate drops to just 40%—significantly lower.

📌 Monthly Premium: 10,000–20,000 KRW (20s-30s average)

For people in their 20s and 30s, monthly premiums typically start from 10,000–20,000 KRW.

However, your actual premium may vary significantly based on individual circumstances. Premiums increase with age and may also be higher depending on your occupation.

📌 Claims Are Simple

These days, you can file Silson claims through:

• Insurance company apps, KakaoTalk, branch visits, mail, Silson24 Site, Naver Pay, and more.

Required documents:

1. Medical expense receipt (Not your credit card receipt—must be issued by the hospital)
2. Detailed medical expense statement
3. (For pharmacies) Prescription document
4. And so on

Some hospitals even offer a "Silson simplified claim service(Silson24)" that lets you avoid submitting separate documents.

📌 Cosmetic Procedures, Checkups Not Covered

Silson Boheom doesn't cover all medical expenses.

• Excluded: Cosmetic procedures, plastic surgery, health checkups
• Limited coverage: Pregnancy, childbirth, dental care, anal conditions

That's why many people get Silson as their base coverage and add supplementary health insurance. Common add-ons include fetal insurance and dental insurance.

Silson: Up to 100 Million KRW Annual Coverage

Currently, all insurance companies offer the same Silson terms. You can receive up to 50 million KRW annually for Geupyeo items and 50 million KRW for Bigeupyeo items—totaling up to 100 million KRW per year.

So what are Geupyeo and Bigeupyeo? Think of them as categories that determine your compensation rate.

📌 Geupyeo (급여, Covered Items)

Medical services covered by National Health Insurance—this includes colds, most illnesses that interfere with daily life, and other common treatments.

• Outpatient treatment compensation: Treatment cost − (Deductible by facility type OR 20% of medical cost, whichever is greater)
  • Deductible by facility: Clinic(10,000 KRW), Hospital(15,000 KRW), Tertiary hospital(20,000 KRW). If your treatment cost is below the deductible, you won't receive compensation.
  • Example: You received outpatient treatment at a general hospital for 200,000 KRW.→ 20% of 200,000 KRW = 40,000 KRW (greater than 10,000 KRW deductible)→ Compensation: 200,000 − 40,000 = 160,000 KRW
• Inpatient treatment compensation: 80% of the patient's burden
  • Example: Inpatient treatment costs 5,000,000 KRW.→ Compensation: 80% = 4,000,000 KRW

📌 Bigeupyeo (비급여, Non-Covered Items)

They are medical services that are not essential for work or daily life and mostly excluded from Silson. However, manual therapy (도수치료), extracorporeal shockwave therapy (체외충격파치료), injections (주사료), and MRIs can be claimed within annual limits.

• Outpatient treatment compensation: Treatment cost − (30,000 KRW OR 30% of medical cost, whichever is greater)
  • Example: Bigeupyeo outpatient treatment costs 200,000 KRW.→ 30% of 200,000 KRW = 60,000 KRW (greater than 30,000 KRW)→ Compensation: 200,000 − 60,000 = 140,000 KRW
• Inpatient treatment compensation: 70% of the patient's burden
  • Example: Inpatient treatment costs 5,000,000 KRW.→ Compensation: 70% = 3,500,000 KRW

So there you have it—a comprehensive overview of Silson Boheom!

I know insurance can feel overwhelming—there are so many types with different coverage options, and it's hard to know where to start.

But here's the thing: for less than the cost of dining out once a month, you can protect yourself against life's uncertainties and actually use these benefits in your everyday life.

I truly believe Silson Boheom is one of the smartest investments you can make while living in Korea. 😊

If you have any questions about insurance, feel free to leave a comment!

See you in the next article with more tips on insurance and living well in Korea.

• Author: Yang Hyunjun, Financial Consultant
• Editor: Sia