The Financial Coconut Podcast
MediShield Life + Medisave vs Single-payer Healthcare. What is the care plan for Singapore? [TFC #GE2025 02 ft Alex Lee & Tan Ern Ser]
Apr 28, 2025
In this insightful discussion, Alex Lee, a former insurance CFO turned actuarial consultant, and Tan Ern Ser, a sociologist and policy scholar from the Institute of Policy Studies, tackle pressing issues in Singapore's healthcare. They debate whether a single-payer system could secure a sustainable future or exacerbate current challenges. The conversation delves into rising healthcare costs, the profit dynamics of insurance companies, and the balance between individual responsibility and community support in a time of crisis.
48:24
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Quick takeaways
- The escalating healthcare costs in Singapore are creating financial strain, highlighting concerns over the long-term viability of the current system.
- Political proposals for healthcare reforms lack a clear financial sustainability plan, raising doubts about their effectiveness in addressing systemic issues.
Deep dives
Rising Healthcare Costs and Sustainability
Healthcare costs in the current system are escalating, leading to concerns regarding affordability for the populace, especially for the sandwich generation supporting both their children and aging parents. With premium rates rising, many individuals feel overwhelmed by the financial burden, prompting discussions about the sustainability of the healthcare model. The panel highlights that it is critical to recognize the misconception around the perceived affordability of health insurance options, especially as individuals age. This escalating cost trend risks pushing many into financial strain, ultimately questioning the viability of the existing healthcare framework.
