Singapore offers healthcare coverage to its entire population through Medisave, a personal savings account and MediShield Life, a low-cost medical insurance to help Singaporeans pay for large hospitalisation bills. To ensure continued healthcare coverage to all its citizens through Medishield Life, the Singapore government is planning to use S$2.2bn over the next three years to waive off premiums payments.
This includes deferring premium payments for citizens who do not have sufficient MediSave balances, till 31 December 2021. The Government will also enhance the annual MediSave top-ups for Pioneer Generation seniors (those born before 31 December 1949). There are Other recommendations of the Council accepted by the government.
Taken together, the new MediShield Life and MediSave initiatives are expected to lower out-of-pocket costs for patients.
3 things to know about MediShield Life premiums & coverage changes in 2021.
To know more details read the original publication on the page of the Ministry of Health, Singapore here.
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