Is Singapore the most expensive for healthcare in the study?

I refer to the article “S’pore ranked No. 4 for medical inflation” (Straits Times, Apr 8).

It states that “Earlier this year, the MOH said Singapore’s average annual healthcare inflation rate was 2.4 per cent between 2011 and 2016.

According to Aon’s report, healthcare inflation fell from 20 per cent in 2014 to 9.6 per cent last year. These figures were based on claims received by the insurance firms it surveyed.”

Granted that the methodology in measuring medical inflation is different between MOH and the Aon report – why is it that the difference is so great – “average annual healthcare inflation rate was 2.4 per cent between 2011 and 2016” (MOH) versus “20 per cent in 2014 to 9.6 per cent last year” (Aon)?

According to the report – “Through the early part of this decade, Singapore was a market characterised by high levels of medical inflation. Harking back to 2014, Singapore had a medical inflation rate of 20 percent, double the regional average. It declined to 15 percent in the years 2015–2016 with the encouraging estimate that in 2017 it will fall below double digits to 9.5 percent before climbing to 10.9 percent in 2018”.

On a relative basis, after adjusting for purchasing power parity (PPP) – is Singapore’s healthcare costs the highest among all the countries in the report?

 

Leong Sze Hian

 

 

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8 Responses to “Is Singapore the most expensive for healthcare in the study?”

  • You Die Your Own Business:

    Most expensive for dafts but cheapest for self entitled greedy clowns, only $8 peanuts for bypassed.

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  • HarderTruths:

    The 70% prefer to get sick and die without proper healthcare for their masters.

    Who am I to argue?

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  • LIONS:

    An increasing number of elderly sgs are taking their own lives to alleviate the with financial burden on their kids arising from HIGH medical costs.

    This number will gradually increase as more impoverished older sgs age n get strapped financially.

    The govt must own up for causing socuo-economic issues duch as this.

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  • Food for thought:

    PAP will use its statistics to make inflation look low, be it medical, housing, transport, food.
    Then it gives out some so called subsidies and rebates.
    Most Singaporeans are conned – there is no need for flat “subsidies”, GST “rebates”, etc in the first place if PAP does not push same up, if PM’s wife’s Temasek and GIC chaired by PM do not need more money to cover their losses or low rates of investment returns.

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  • Tom lee:

    For this generation and the next radical changes should have been done at least 10 years ago. It’s too late now. Is there still hope for future generations?

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  • Tom lee:

    Your HDB is a problem. Your healthcare is a problem. 70%, Singapore salutes you!

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  • 花非花:

    Do not blame 70%, but ask yourself why they will make such a decision?

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  • INDIAN malay INDIAN president:

    Food for thought:
    PAP will use its statistics to make inflation look low, be it medical, housing, transport, food….

    very well said, bro. pap is master of FAKE news. raw data and pap statistics paint a different picture whenever the non FAKE news picture shows pap in a bad, even though true, light.

    pap FAKE news laws are not there to do the right thing. because the thief shouting theft theft cannot make the thief a non thief.

    rather pap FAKE news laws are there to silence truth telling come GE2019. but many say the pap FAKE news laws aren’t going to work. we agree.

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