Why reforming Singapore's healthcare system is a must

Singapore healthcare system should be due for a review and reform – changes are required.

The government has already made provisions for everyone with a Medisave account, to have the ability to plan and cater for our healthcare costs when the need arises.

Nonetheless, there are still many restrictions and constraints which confine the use of the funds, for for that matter, have a ceiling limit that might be too low for the rising and seemingly escalating healthcare costs.

Why can’t those who could afford to, place more funds into the Medisave account? Allow people to use more from the account to buy more comprehensive plans for better coverage?

If I hadn’t bought a plan for my children, my youngest daughter’s recent operation which cost more than twenty thousand, would have cost me dearly.

However, my plan doesn’t have a rider which I was informed could be bought with cash out of my own pocket.

I think it’s about time to relook and have this restriction changed. The government seems to try having a one-size fits all solution for our population.

For those with higher income why can’t we place more funds into our Medisave accounts, and use it with many fewer restrictions, such as a higher limit for purchase of private plans including the risders?

I think the government should look at this again from the following perspectives:

• Raise the ceiling of the Medisave account – can still have a minimum threshold level required.

• Allow top-ups into the Medisave account for those who could afford

• More Medisave funds for purchase of more comprehensive plans for better coverage.

• Tax deductions for top-ups to Medisave account.

I’m making these suggestions because the healthcare industry would be growing with our aging population, contributing to greater investment and employment opportunities.

Meanwhile, with a fast rising healthcare cost forecasted, I believe it is high time the government should review and reform the healthcare system, including changes to our Medisave account with fewer restrictions and limitations.

In return, changes could result in benefits for many different parties and stakeholders – the healthcare industry, better employment and investment opportunities, as well as better healthcare for the population.