Singapore Budget 2014: Gan spells out how Medishield Life premiums to stay affordable
Published on Mar 12, 2014 2:35 PM
The premiums that lower- and middle-income households will have to pay for the new Medishield Life insurance that kicks in next year, will be the same or lower than what they now pay.
That is after taking into account the Government's permanent subsidies and Medisave contributions and top-ups.
Health Minister Gan Kim Yong gave this assurance on Wednesday, as he shed light on the approach the Government intends to take to keep premium increases affordable.
He said the Government intends to bear most of the initial cost of universal coverage, with permanent subsidies to be introduced for lower to middle income groups and an additional transitional subsidy for all, regardless of income, to tide over the shift to MediShield Life.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!