CHENGDU, Nov. 30 (NBD) -- China has expanded the coverage of critical illness insurance to 1.05 billion Chinese dwellers by end of this September, according to a press conference held on Tuesday by China Insurance Regulatory Commission. 

The serious illness insurance program for urban and rural residents as well as students has been almost fully implemented, which is a huge step in reducing medical costs for the whole nation. 

Critical illness insurance will pay for more than 50 percent of the expenses incurred by insured people after receiving compensation from their basic medical insurance. Congenital heart disease, advanced renal disease, cancer and other major diseases are included in the critical illness program. 

From January to September, the real reimbursement ratio of insured patients after receiving compensation from their basic medical insurance rose 13.85%, with the largest individual reimbursement amount reached 1.12 million yuan (about 162,000 US dollars).

Critical illness insurance, which was first rolled out on a trial basis in 2009 and began to be implemented nationwide in 2015, reimburses patients for medical bills that "far exceed basic medical insurance." The government-supported program aims to address poverty exacerbated by ill health. 

Treatment for 605 critical illnesses is covered by 16 insurance companies, helping many with the financial burden associated with health care.