Healthcare System in Singapore

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Healthcare System in Singapore What is
Singapore's secret to such an efficient health
system? The healthcare system is funded in a way
that increases awareness of the cost of
healthcare among the population. In Singapore,
each person saves a certain amount of their
salary every month to participate in financing
the medical expenses that they will encounter
during their lifetime. The unused savings in the
account generate interest. This system aims to
avoid the overuse of medical care/treatment. The
state of Singapore covers the majority of the
healthcare costs of its citizens in the form of
subsidies within public health institutions,
often covering up to 80 of costs. The
Singaporean health system is organized around the
3M Medisave, MediShield, and Medifund. It also
allows for flexibility in the choice between the
public and private sectors. Private medical
insurance refers to any medical insurance
coverage offered by a private entity instead of a
state or federal government. Insurance brokers
and companies both fall into this category. If
you are a foreigner with permanent residency, a
subscription to the Singaporean healthcare system
is compulsory. Brief details of healthcare
facilities in Singapore are Government medical
insurance facilities are primarily designed to
provide subsidized healthcare services to
Singaporeans. Although wholly owned by the
government, the public sector hospitals are
operated as private limited companies to compete
with the private sector on service and quality.
Government medical insurance also sets the
benchmark for private medical insurance on
professional medical standards and fees. Private
medical insurance facilities in Singapore are as
good as any in the world, with an excellent level
of medical care and service levels. For
non-Singaporeans, the difference in cost between
government and private medical insurance is
negligible as they directly compete with each
other. The good news is that day-to-day
healthcare services are quite affordable in
Singapore however, it is advisable to consider
medical insurance options to safeguard from any
critical illnesses.