A single-payer universal healthcare system has its benefits
Many in Singapore believe in “trade-offs” in healthcare policy outcomes — that is, to have more equitable healthcare, the state needs to take on a higher burden of healthcare spending, which may mean higher taxes.
Many in Singapore believe in “trade-offs” in healthcare policy outcomes — that is, to have more equitable healthcare, the state needs to take on a higher burden of healthcare spending, which may mean higher taxes.
Yet a single-payer universal healthcare system based on a compulsory national health insurance model can stem the rise in healthcare costs by increasing risk pooling among a larger population, and allow for more bargaining power with pharmaceutical companies and medical service providers.
Such a system introduces a philosophy that we are all in this together and, as we pay directly into a national insurance system, we feel more passionately about monitoring and improving it.
This letter first appeared as a Facebook comment on the VoicesTODAY topic, “Healthcare: How to bring costs down?”.