BEIJING, April 11 (Xinhua) The State Council, China cabinet, announced the appointment and removal of officials Tuesday. Wang Zhenjiang was appointed vice mi
China s first special regulation on the use of medical insurance funds deals out stiff punishment for fraud in order to discourage cheating and safeguard the security of insurance funds, officials said on Saturday.
The regulation on the supervision and management of medical insurance funds use was unveiled on Jan 15 in a State Council decree signed by Premier Li Keqiang. The full text was released to the public on Friday and will take effect on May 1.
The regulation mandates that medical institutions and pharmacies that engage in fraud will be fined two to five times the amount of money involved and their licenses to practice will be suspended or revoked.