MediShield premiums to be raised to provide ‘wider’ coverage
Posted by temasektimes on July 19, 2012
With Singaporeans living longer and medical bills becoming high, the Ministry of Health (MOH) is proposing to enhance MediShield, its catastrophic illness insurance scheme, to provide greater coverage from the first quarter of 2013.
Under the new scheme, MediShield coverage will be extended to include congenital and neo-natal conditions.
This will be an auto-cover exercise, which means all future Singapore Citizens’ and Permanent Residents’ babies will be covered throughout their lifetime from birth unless their parents choose to opt out from the scheme.
However with the wider coverage, MediShield premiums will have to be increased. For the vast majority of policyholders, they will have to fork out between S$5 – S$10 monthly over the next two years.
Unlike other First World countries, Singapore does not have a comprehensive social safety net to provide for the healthcare of its elderly citizens who are expected to be ‘self-sufficient’ and care for themselves in order not to become a financial burden to the state.