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Universal Health Coverage (UHC) is a widespread policy goal in the 21st century. The aim is to protect people from financial risk while promoting their access to good-quality care. This study examined the social insurance systems of South Korea and Taiwan to explore the critical challenges of achieving effective UHC. By assessing the impact of UHC on financial risk protection (measured by out-of-pocket payment share and catastrophic payment headcount), we found that when South Korea inaugurated its National Health Insurance (NHI) program with a limited benefits package and high cost sharing, it did not reduce the financial burden. Meanwhile, we observed a drop of 5 to 6 percentage points in the catastrophic payment headcount in Taiwan, which offered a universal and rather comprehensive benefits package with a modest cost-sharing design under its single-payer NHI system. The political-economic context of the UHC policy evolution was further explored through an in-depth discussion. We conclude that to provide sufficient financial risk protection against unexpected medical expenses, the design of the insurance scheme, in particular the risk-sharing mechanism, not only matters but is also the key to success. [ABSTRACT FROM AUTHOR]

Various discourses and debates on the state - transnational capital relationship have emerged within the international political economy literature. The particular contribution offered here focuses on this relationship in three East Asian developmental states (Singapore, South Korea and Taiwan - the NIE-3) through the lens of foreign economic policy (FEP) analysis. In different ways their respective state governments have all worked closely alongside various forms of transnational capital in sustained yet evolving 'adaptive partnerships', and in accordance to largely state-determined FEP objectives. Moreover, these objectives broadly relate to the pursuit of economic security in the international system. While each of the NIE-3's own path of economic development has differed significantly, there nevertheless exist important similarities. This not just relates to being constituent to the East Asian regional economic dynamic but also their shared developmental state tradition. The relationship between the state and transnational capital is also key to understanding the NIE-3's foreign economic policy formation, although this has differed significantly across the group. In sum, this study analyses just one of many contemporary examples where both the state and transnational capital are working to congruent ends in their respective adaptations to the challenges posed by globalization. [ABSTRACT FROM AUTHOR]