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Govt commits support for MediShield Life premiums

AsiaOne | Thursday, Jun 5, 2014

SINGAPORE - The government welcomes the latest update by the MediShield Life Review Committee (MLRC) on MediShield Life benefit features, said the Ministry of Health (MOH) on its website on Thursday.

The MLRC has proposed to raise claim limits and lower co-insurance, especially for the largest bill.

With the enhanced MediShield Life benefits, payouts will increase, which in turn require higher premiums. MOH has assured that the government will ensure that Medisave withdrawal limits will be sufficient for all MediShield Life premiums in its statement. 

"To help Singaporeans with their MediShield Life premiums, the Government will provide premium subsidies, financial assistance and other forms of funding support for the lower to middle income, as a permanent feature of MediShield Life. The premium subsidies for Pioneers are not means-tested and will be for life," said MOH. 

MOH said that the government will help all Singaporeans to adjust to the premium increases over 4 years through transitional subsidies.

"The government accepts the Committee's recommendation and will bear most of the cost of bringing in those with pre-existing conditions. In this way, the Government will help all Singaporeans, including those with pre-existing conditions and those who are currently excluded, achieve MediShield Life cover, while ensuring that premiums are kept affordable premiums for policyholders," the Ministry said. 

To help Singaporeans, especially the lower and middle income groups and the elderly, the government will put in place a range of additional support measures.

The support measures are:

a. Premium subsidies for lower to middle income households, i.e. up to two-thirds of the population. There will be further financial assistance for those who need help, even after premium subsidies;

b. Transitional subsidies for four years for all Singapore Citizens, regardless of income, to ease in the shift to MediShield Life; and

c. Support for the Pioneer Generation, for life.

MOH will finalise the Government subsidies, and provide the details at a later date.

The Government will consider the recommendations of the MLRC, after the Committee submits its final report, and announce its findings thereafter.

MediShield Life will be implemented in end-2015.

maryanns@sph.com.sg

 

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