A senior citizen in HCM City receiving medicine covered by health insurance. —VNA/VNS Photo

HCM CITY — The HCM City People’s Council has approved a resolution to fully subsidise the health insurance premiums of students and individuals aged 65 to 75 who are not yet covered by other existing social welfare policies.

The city will allocate an annual budget of nearly VNĐ2 trillion (US$75.8 million) to provide 100 per cent insurance coverage for more than 530,000 senior citizens who are permanent residents and more than two million students who are currently enrolled in educational and training institutions in the city.

The initiative is expected to expand social security coverage across the city.

The city has set a target of achieving more than 95 per cent of the population covered by health insurance by 2026 and progressing towards universal coverage by 2030.

The new policy is consistent with the National Strategy on the Elderly outlined in the Prime Minister’s Decision 383, which aims for 100 per cent of senior citizens to possess health insurance cards during the 2025-2030 period.

The municipal People’s Committee affirmed that the health insurance subsidy for these two groups demonstrates the city’s humane policy and its commitment to public healthcare.

Furthermore, it is seen as a significant contribution to strengthening the social security system and enhancing the overall quality of life for its residents.

The resolution approved at the fifth special session held by the 10th-tenure council will take effect from January 1. —VNS