MediShield premiums are due for an increase to keep pace
with increasing payouts. Health Minister
Gan Kim Yong, said that, from preliminary estimates, a 45-year-old may see a
premium increase of about S$7 per month, with those in younger age groups
having a smaller increase.
He explained that there is a need to update the premiums
to ensure that the health insurance scheme remains sustainable and able to fund
future liabilities. Since 2008, payouts have been rising at 21% a year while
premiums collected grew by about 10% a year.
The Ministry of Health (MOH) will be extending Medishield
to cover those up to 90 years old, up from the current 85 years; and is looking
to extend its coverage to other vulnerable groups, such as children with
congenital and neonatal conditions. MOH
will also consider extending coverage for inpatient psychiatric
treatment as well as help Singaporeans who exceed their policy year and
lifetime claim benefits.
Minister Gan said that public consultation will be
carried out before these changes are implemented.
For more information, please read the online articles from TODAY.
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Medishied premiums, as well as plans to extend its coverage to older
Singaporeans and other vulnerable groups.