When the Executive Yuan submitted its most recent draft amendments to the Labor Insurance Act (勞工保險條例) to the Legislative Yuan for review in April 2017, it said that the government would subsidize the Labor Insurance Fund by NT$20 billion (US$651 million at the current exchange rate) every year to improve the labor insurance program’s financial situation.
The bills also included other measures to keep the fund afloat for several more years, such as raising insurance premiums by 0.5 percentage points every year until they reach 12 percent of insured people’s salaries. They would expand the scope of the insurance by 12 months each year, with payout in the case of inability to work to eventually be based on the person’s highest monthly salary in the previous 15 years, up from five years.
