SINGAPORE - Medishield premiums must be raised to keep up with the
rise in pay-outs, said Health Minister Gan Kim Yong in Parliament today.
The amount in which the premiums will be raised will be according to
the policy holder's age, he explained.
For example, a 76-year-old policy holder is likely to see an increase
of $25 a month, while a 45-year-old may see a lower premium increase of $7 a
month.
The premium increase will be less for those in the younger age groups.
This is inevitable in order to keep MediShiled sustainable, said Mr
Gan.
Medishield paid out 21 per cent more in claims each year between 2008
and 2011. However, premiums only grew by 10 per cent each year, said Mr Gan.
According to Mr Gan, the last increase was in 2008, and Medishield
premiums are calculated to be sustainable for a five-year period.
However, to help Singaporeans deal with the rising premiums, the
government will be disbursing a one-time Medisave top-up of up to $400 for all
Singaporean policy holders.
In addition, most older policyholders who are beyond the re-employment
age of 65 will receive direct and long-term assistance via Medisave top-ups
under the GST Voucher scheme.
This means they will receive up to $450 a year, or $37.50 per month,
which can offset the premium increase in full.
Those aged 50 to 60 will also see a higher contribution to their
Medisave accounts due to the higher CPF contribution rates, Mr Gan added.
In response to Hougang MP Mr Gerald Giam's query on whether some of the
MediShield reserves can help to offset these premium increases, Mr Gan said
that the reserves are to ensure that MediShield will be able to honour
policyholders’ future claims and are crucial in ensuring the long-term
sustainability and viability of the MediShield Fund.
During the Parliamentary session, several MPs also called for the
extension of Medishield to cover more conditions, such as congenital conditions
in newborn babies, and psychiatric and mental care.
Mr Gan said the Government will look into the suggestions, but warned
that a wider coverage will also mean higher premiums.
YourHealth, AsiaOne
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