Essay Example on Comparing Health Insurance in SG & USA

Introduction

Insurance is a means of indemnity against a future occurrence of an uncertain event. Singapore's government regulate insurance in both public and private health sector. In the USA Affordable Care Act ensures people have access to affordable and quality health insurance (Liu, 2016).

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Singapore USA

There are 3 health insurance programs that are Medisave,medishield, and media fund Insurance types are Medicare, Medicaid, CHIP, and private insurance.

Medisave cover workers who are health insurance account holder and family members

Medishield cover permanent Singaporean residents. Medifund cover citizen receiving treatment from medifund approved centers and the poor. Medicare covers adults who are 65 years and above, people with disabilities. CHIP covers children. Medicaid covers individual meeting certain criteria at each state.

Medisave is funded by workers contribution as they pay a percentage of their wages and contribution from employers.

Medishield operates on deductible system and copayment. Insured pay premiums through medisaveMedifund is funded by the government

Insurance is covered through cost sharing and out of pocket spending. For Medicare, deductibles for hospitalization and ambulatory care is required. Deductible health plans are paired with the tax advantage of health saving accounts.

Medisave provide for day surgery, hospitalization, outpatient-expenses. Medishield covers major and prolonged illness. Medifund provides services to those unable to pay despite government subsidies. Medicare and Medicaid provide for hospitalization, drugs prescription,physician services but with Medicaid certain option varies per state. Private insurance covers for dental care, optometry, and preventive services

Singapore's ministry of health is responsible for health care; it set policies, ensure quality care and responsiveness to residents needs and licensing health care institution. It also conducts an annual patient survey to know their satisfaction levels regarding care. US department of health and human services through ACA lays national priorities to guide local, state, national health. Medicare payment has been reducing to the lowest performing hospitals.

In Singapore, the government is at the lead in providing funds for insurance and subsidizing certain chronic condition for example obesity, hypertension, cervical cancer, and diabetes. There are disparities in accessibility and health care quality also in income hence Medicaid and CHIP provide for the low-income population

Medisave is being expanded to cover chronic diseases such as high blood pressure and diabetes, vaccination for certain groups and health screening.

Medishield is also aiming to cover pre-existing conditions.

Private and government insurance companies are aiming to move from specialist focus health care system to the primary care system and more to community service and support.

References

Liu, C., & Haseltine, W. (2016). The Singaporean Health Care System, 2015. 2015 International Profiles of Health Care Systems, 143. http://intlhealthoptionalreading.mba/docs/1-Reading%20List/Class%2001,%20Overview,%20Strategy/3-References/2016,%201-1-International%20Profiles%20of%20Health%20Care%20Systems.pdf#page=143