Within the framework of the visit by a high-ranking delegation from the US-ASEAN Business Council (USABC) to Vietnam on March 9, Vietnam Social Security and the USABC signed an MoU on implementing health insurance policies.

The objective of the MoU is to strengthen bilateral cooperation in policy implementation, create a favorable environment, and promote regular exchanges between Vietnam Social Security and its US partners towards developing a sustainable health insurance system in Vietnam, giving people access to a safe and effective health insurance regime.

It will be valid for five years from the date of signing. The two sides will focus on cooperation in developing sustainable universal health insurance, developing methods to evaluate the quality, cost, and price of medical equipment and supplies, medical services, medical equipment, and drugs, and performing assessments of medical insurance payments.

At the same time, the two parties are looking for possible cooperation in applying digital technology in the field of health insurance, and providing advice on social security, fund investment, and other content that could be developed by both in the future.

They will also share practical experiences on various matters, such as medical service payment models for cancer treatment and high-cost chronic non-communicable diseases, and solutions for patients in Vietnam to gain access to advanced treatment methods, rare diseases, and so on.

In particular, the USABC will assist Vietnam Social Security in assessing the universal health insurance system. This includes developing financial indicators and models, and researching and sharing experience to improve and maintain the stability and sustainability of the Health Insurance Fund.