From a cashflow perspective – are we spending any money on healthcare?

I refer to the article “Reserves cannot be further tapped for healthcare: PM” (Straits Times, Mar 5).

It states that “Singapore cannot draw more from its reserves to fund healthcare spending in the future, as this will quickly deplete its nest egg, said Prime Minister Lee Hsien Loong.

The needs of an ageing society are beyond those of “a rainy day”, he said. “It is an ‘everyday need money’ day. We will need to spend more on healthcare every year, year after year, for many years to come.”

In this connection, Singapore’s public healthcare  spending as a percentage of GDP, at just about 2.5 per cent ($9.8 divided by $400 billion), is probably the lowest in the world.

Singapore workers contribute” up to 10.5 “percent of their wages to mandated savings accounts (Medisave account) that may be spent on health care” and “insurance””.

This is I believe is in a sense from a cashflow perspective – probably the highest national health insurance contribution (pre-pay basis) in the world.

From a cashflow perspective – the Government  may still not be spending any money on healthcare, as total annual Medisave contributions plus the annual interest on total Medisave accounts’ balances may exceed total annual government spending on healthcare and withdrawals for medical expenses and insurance premiums.


Leong Sze Hian



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3 Responses to “From a cashflow perspective – are we spending any money on healthcare?”

  • Bapak:

    The money goes to forming many committees to study how to fix the system to their advantage but none actually for healthcare.

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  • Samuel S:

    Look like our reserves are stagnant, once drawn out there is no yearly replenishment! Are you lying in broad daylight, PM Lee?

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  • pap selected INDIAN president:

    heard on the radio about the 5% co payment for hospital bills.

    the caller made the right statement.

    the massive S$ overspend happens only in private hospitals. since pap has been talking about aging population since the 1980s pap should have built more public hospitals. if queues are not so very very very bad in public hospitals then there wouldn’t be any over spend S$ in private hospitals to begin with.

    because who would buy expensive private hospital insurance when public hospital queues are manageable?

    root cause of current proposed 5% co payment for hospital bills?


    pap for not building enough public hospitals to cater for the aging population pap has been talking about since over 30 years ago.

    who gets hit hardest? the needy poor Singaporeans. 5% is nothing to pap Ljs and pap Cbs who are all S$m. but for poor needy Singaporeans at median wage gross S$3,500 pm, 5% which some say capped at S$3,000, is truly hitting the needy poor Singaporeans hardest.

    YET 70% sheep clap clap. WTF.

    is an INDIAN a malay? how come it is like that? WTF.

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