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SINGAPORE: All Singaporeans will receive a one-time COVID-19 grant to cushion the impact of the recommended increase in MediShield Life premiums, the Ministry of Health (MOH) announced on Tuesday (September 29).
The Government will subsidize 70 percent of the net increase in premiums, after taking into account existing premium subsidies, in the first year and 30 percent in the second year.
Authorities expect the premium increase to be implemented in 2021, along with other recommendations put forward by the MediShield Life Council in its review of the national health insurance scheme.
The COVID-19 subsidy will cost the government around S $ 360 million over two years, and is in addition to existing premium support measures.
This will ensure that net premium increases for all Singaporeans will remain at about 10 percent for the first year, the Health Ministry said in a press release.
READ: MediShield Life premiums can increase by up to 35% for some higher claim limits proposed as part of the review
The Government has also pledged to continue its premium subsidies, Merdeka and Pioneer Generation subsidies, and additional premium support for those in need. It is estimated that they will cost S $ 1.8 billion over the next three years.
Merdeka and Pioneer Generation seniors also receive annual MediSave refills, and Merdeka Generation seniors receive S $ 200 annually from 2019 to 2023, and Pioneer Generation seniors receive S $ 200 to S $ 800 annually per lifetime.
They can use the refills to pay their MediShield Life premiums.
Permanent residents receive half of the premium subsidies applicable to Singaporeans.
READ: 2019 Budget: S $ 8 Billion Merdeka Generation Package to Include Outpatient Care Grants
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Since 2015, the government has introduced a series of measures to keep premiums affordable for Singaporeans, the Health Ministry said.
These include funds to cover the cost of bringing the uninsured to MediShield Life, premium subsidies of up to 50 percent for the low- and middle-income, transitional subsidies for all Singaporeans in the first four years, as well as the Additional premium support. for the needy.
The Government also granted premium subsidies of 5 or 10 percent for the Merdeka generation and premium subsidies of 40 to 60 percent for the pioneer generation.
In total, the government has spent S $ 3.1 billion over the past four years to help Singapore residents with their premiums, the Health Ministry said.
Health Minister Gan Kim Yong said these subsidies have helped keep premiums affordable for Singaporeans.
“No one will lose MediShield Life coverage due to financial difficulties,” he added.
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