Method of Allocating Costs for Voluntary Social Insurance and Health Insurance for Students

According to Circular 24/2020/TT-BTC, based on the content and management cost levels stipulated in Article 9 and Article 10 of Decision 60/2015/QD-TTg as amended and supplemented in Clause 9 and Clause 10 Article 1 of Decision 38/2019/QD-TTg, the General Director of Vietnam Social Security drafts and issues internal spending regulations for units under Vietnam Social Security based on standards, norms, and policies stipulated by the State to organize implementation.

Illustration (Source: Internet)

To be specific:, the method of allocating costs for collecting voluntary social insurance, health insurance from household participants, and students studying at educational institutions within the national education system (collection costs) as stipulated in point b clause 9 Article 1 of Decision 38/2019/QD-TTg is as follows:

- The average collection cost of the entire sector is 7.5% of the contribution amount of the participants; Vietnam Social Security will implement as follows:

+ The commission rate for organizations acting as collection agents is stipulated at Point b Clause 9 Article 1 of Decision 38/2019/QD-TTg. The General Director of Vietnam Social Security will determine specific commission rates for each participant group (first-time participants, continuing participants) and for each province and centrally-run city, suitable to the actual situation and within the permissible commission range;

+ The remaining collection costs after paying the commission to collection agents will be retained by the Social Insurance Sector for costs relating to training, collection work seminars, auditing collection agents, and organizing customer conferences. Vietnam Social Security will allocate these costs to the Social Insurance authorities of provinces, cities, and relevant units to organize implementation;

- The Social Insurance authorities will base on the amount and participant list submitted by the collection agents to pay the commission costs; the payment amount corresponds to the commission rate prescribed by the General Director of Vietnam Social Security;

- The Social Insurance authorities are responsible for providing templates for the collection agents to print in service of making the participant list.

Refer to the full text of the regulation at Circular 24/2020/TT-BTC effective from May 30, 2020.

Tuesday

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