Will the future increase in healthcare spending be the same as the way healthcare is funded now?
I refer to the article “Govt spending on healthcare to rise sharply in next 3-5 years: Heng Swee Keat” (Straits Times, Dec 6).
It states that “predicts that by 2020, government spending will go up by “at least $3 billion”.
In this year’s Budget, the Ministry of Health (MOH) received $10 billion, up from the $4 billion health received in 2010 … predicting an annual budget of “at least” $13 billion from 2020.”
In this connection, from a cashflow perspective – will the Government in the future years – may still not be spending a single cent 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