![]() There is a universal healthcare coverage system for their citizens, which is based on the two philosophies: affordable healthcare to all citizens and individual responsibility. The majority of the cost in Singapore is paid by the citizens and their particular employer. The elderly population is on the rise rapidly, whereas that young population who ought to take care of them is shrinking significantly. In most developing countries, there is an emerging demographic problem in relation to healthcare in relation to the aging population. This is only 4% of the Singapore Gross Domestic Production (GDP) that caters for the healthcare expenditure, which is relatively low in relation to many developing countries. The government using funds from the state taxes is responsible for funding one-fourth of the total health cost in Singapore. The Singapore government does not spend a lot on healthcare. In fact, in the US, the government has been urged to dispose the Obama Care and instead copy the Singapore healthcare system, referring it as a “ Miracle”. ![]() ![]() Singapore is even ranked above some of the most developed countries in the world in terms of excellent healthcare systems including the United States of America. In 2014, Singapore healthcare system was ranked in position one in relation to efficiency globally by Bloomberg. The Singapore model differs from these models or approaches. There is the National Health Services (NHS) of the United Kingdom and the similar social security system in Thailand. Moreover, the Scandinavian countries healthcare systems that have been excellent over the years. There is also the single-payer system that is successful in Canada, a reflection of simplicity, or the hybrid approach that works well in Germany. There is France healthcare multi-payer system that is high-performing and is ranked among the best healthcare system on the rankings provided by the World Health Organization (WHO). There are different approaches to healthcare that countries can emulate in their quest of improving the efficiency and lowering the cost of healthcare among its citizens. Keywords: Singapore healthcare system Healthcare cost Protection schemes Government subsidies IP claims However, the major problem facing the Singapore healthcare system is the increase in the number of insurance claims. The needy and poor are able to be afforded various healthcare services, but only after allowing those who are capable of paying to do so. There are government subsidies to supplement these contributions. Individuals are the major contributors of the healthcare cost in Singapore. The study found out that Singapore manages its healthcare cost through multiple protection schemes that are supplemented with private health insurance to cater for individual health cost. We compare how health cost is managed in Singapore, with that of the United States and Germany. This paper seeks to evaluate how Singapore manages its healthcare cost. One of the major factors that have contributed to the success of the Singapore Healthcare system has been how healthcare cost is managed. The Singapore healthcare system can be considered a successful system in relation to its efficiency and provision of world class services to Singaporean residents.
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