Singapore’s healthcare system has enjoyed widespread international acclaim since 2000 when the World Health Organization proclaimed Singapore’s system the 6th best in the world, whilst in the World Health Statistics 2010 Singapore ranked 2nd lowest for Infant Mortality Rate and 9th highest for Life Expectancy at Birth (81 years). Notwithstanding these robust health metrics, Singapore spent only 4.0% of its Gross Domestic Product (GDP) on healthcare services in 2010, less than half of the United Kingdom (9.6%) and less than a quarter of the United States of America (17.6%).
Singapore’s public healthcare system is widely considered to be well-designed and financially sustainable. The combination of subsidies in the public health sector and the 3M system of financing (Medisave, MediShield and Medifund) ensure that a large majority of Singaporeans have affordable access to good healthcare while still providing patient choice. State ownership of public hospitals, as well as a dominant role in the availability and supply of tertiary healthcare helps to contain cost pressures.
Singapore’s healthcare system will face a number of significant challenges in the years to 2050, but especially so in the next 10-15 years. Firstly, the ageing of the population: increasing longevity and a larger proportion of older persons in the population will likely require increased national expenditure on healthcare. By 2030, over a fifth of the resident population, or 900,000 Singaporeans, will be aged over 65. Many of those aged 65 and older in 2013 are from the less highly-educated, low-skilled cohorts born in Singapore’s pre-independence period with insufficient CPF balances. This will increase the pressure on the Many Helping Hands concept, and raise the need for expanded financing of healthcare as demand increases. CPF data shows that 40% of current active CPF members (708,000 members) do not have the $36,000 Medisave Minimum Sum at age 55 as at end 2011.
This workshop brings together policy-makers, practitioners and academics to discuss sustainable solutions to increase healthcare financing coverage for the elderly. We will specifically examine the Dutch model as part of the discussions. Mr Martin Bontje, former Managing Director of the Association of Dutch Healthcare Insurers and Chairman of the Association of General Practitioners Netherlands (VHN) and Mr Jan van den Berg, President Asia of Pramerica Financial will present on some of the features of the Dutch Standard Package Policy that could be adopted as Singapore contemplates changes in its system of healthcare financing.
Downloads