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Chapter Law Content

Title: Farmer Health Insurance Act CH
Category: Ministry of Agriculture(農業部)
CHAPTER V Insurance Fund and Financial Sources
Article 41
The fund of this Insurance derives from the following sources:
1.The money allocated by the government upon establishment.
2.The balance of the insurance premium and interest incomes minus the expenditure of insurance payment.
3.Late fee.
4.Operating incomes of the fund.
Article 42
The fund of this Insurance may be used for the following purposes with the approval of the Farmer Health Insurance Supervisory Commission:
1.Investment in government bonds, treasury bills, and corporate bonds.
2.Deposit in national banks or public-operated banks designated by the central competent authority.
3.Investment approved by the central competent authority and favorable for the income of the fund or for the business of farmer health insurance.
The fund of this Insurance may not be used for any purpose other than described above and for payment of insurance payment, or transferred to another organization or individuals; and the regulations on management and utilization of the fund shall be prescribed by the central competent authority.
The insurer shall report the incomes, expenditures, utilization, and balance of the fund to the central competent authority for announcement every year.
Article 43
Every year the insurer shall compile a budget according to a percentage of 5.5% of the annual insurance premium for the funds required for implementing this Insurance. After the budget is approved by the Farmer Health Insurance Supervisory Commission, the funds shall be allocated by the executive departments that deal with the affairs regarding this Insurance before the Central Bureau of Social Insurance is established.
Article 44
In case of deficit occurs upon annual settlement, the competent authorities that deal with the affairs regarding this Insurance shall audit and allocate funds to make up for the deficit, and application may be submitted to the central competent authority for subsidization. Upon receipt of the aforementioned application, the central competent authority shall immediately examine the causes of the deficit, and shall adjust the premium rate according to relevant procedure where it is deemed necessary to do so.