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SINGAPORE – Beginning in March next year, the benefits offered by the MediShield Life health insurance plan will be expanded, with a $ 50,000 increase in the policy’s annual claims limit to $ 150,000.
Treatment for attempted suicide, drug addiction and alcoholism will also be included in the mandatory basic health insurance plan.
The Ministry of Health (MINSA) said on Monday (December 21) that the government has accepted all the recommendations of the MediShield Life Council, which began reviewing the national insurance program in 2018.
While premiums are forecast to rise by as much as 35 percent based on the scheme’s first major revision since its launch, the Health Ministry said it will defer payment of premiums until the end of December next year for those who don’t have enough. MediSave balances.
The government has also said it will provide premium subsidies and support of up to $ 2.2 billion over the next three years.
This includes $ 1.8 billion for existing premium subsidies and support measures for low- and middle-income households, Pioneer Generation and Merdeka Generation seniors, as well as the financially needy.
Medishield Life was launched in November 2015 to provide Singaporeans and permanent residents with lifelong protection from large medical bills from birth.
The ministry said the annual MediSave refills for Pioneer Generation seniors, which can be used to pay MediShield Life premiums, will be enhanced.
The financially needy can also apply for additional premium support, the Health Ministry added.
In addition to the subsidies, the support will also include a one-time Covid-19 subsidy for all Singapore citizens for two years to cushion the impact of premium adjustments during the pandemic.
The $ 360 million subsidy will cover 70% of the net increase in premiums after taking into account existing subsidies in the first year, followed by 30% in the second year.
The ministry said: “These measures will keep net premium increases for all Singapore citizens to no more than 10 percent in the first year.”
Commenting on the changes, Health Minister Gan Kim Yong said on Monday: “MediShield Life was created to ensure that Singaporeans were protected against large hospital bills for life. To ensure that the plan can remain relevant and sustainable, the Government has accepted the recommendations of the MediShield Life Council to improve the scheme and adjust the premiums.
“We will provide up to $ 2.2 billion in premium subsidies and support, including an additional Covid-19 subsidy for all Singapore citizens.
“We will ensure that MediShield Life continues to provide coverage for all Singaporeans, for life, and we will ensure that premiums remain affordable,” he added.
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