- "There are mandatory health savings accounts: "Individuals pre-save for medical expenses through mandatory deductions from their paychecks and employer contributions... Only approved categories of medical treatment can be paid for by deducting one's Medisave account, for oneself, grandparents, parents, spouse or children: consultations with private practitioners for minor ailments must be paid from out-of-pocket cash..."
- "The private healthcare system competes with the public healthcare, which helps contain prices in both directions. Private medical insurance is also available."
- Private healthcare providers are required to publish price lists to encourage comparison shopping.
- The government pays for "basic healthcare services... subject to tight expenditure control." Bottom line: The government pays 80% of "basic public healthcare services."
- Government plays a big role with contagious disease, and adds some paternalism on top: "Preventing diseases such as HIV/AIDS, malaria, and tobacco-related illnesses by ensuring good health conditions takes a high priority."
- The government provides optional low-cost catatrophic health insurance, plus a safety net "subject to stringent means-testing."
Sunday, January 13, 2008
Singapore's Health Care System
Bryan Caplan has an interesting post on Singapore's health care system over at EconLog. What is particularly startling is that Singapore only spends 4% GDP compared to 15% GDP in the US and around 11% GDP in France on health care but still obtains similar outcomes (better than the US and similar to the French). Some of the features of the system: