Health Insurance Costs in Singapore
Since it’s of interest to anyone watching the U.S. healthcare death struggle, I thought I’d tell you a few prices.
We have health insurance through the university, where my spouse is a professor. He upgraded coverage for our family of three, to the maximum best-possible coverage, and for this we pay $700 (Singapore currency) a year. This means we can go to any doctor or clinic that’s on the plan (and that’s most of them on the island), pay a $5 co-pay, and get a consultation, at the end of which we pop by the dispensary (in-clinic pharmacy) and pick up whatever drugs may be prescribed, at no additional cost. Hospitalization costs are much lower too, with a 10% co-pay. (I’d give you more details but have not been hospitalized, so don’t know them.)
It’s good coverage, but medicine itself is cheaper here as well. The campus clinic is in a small space next to a lecture theater; it’s the size of two elementary-school classrooms combined, and includes a waiting area, reception/filing area, dispensary, optometry center, small laboratory, and six consulting rooms. Not a lot of wasted space. If you need more deluxe treatment you can go to a larger clinic, in the mall or at a hospital.
There’s no single-payer requirement. If you’re a Singaporean you have a Medi-Save account, where you store money for future medical expenses, but otherwise you have to purchase insurance or pay full fees. But you do have various options in case of hospitalization or extended care; there are A facilities, with air conditioning, or B facilities, cheaper, smaller, shared rooms without AC. Your choice.