Microinsurance closes gaps in social safety nets
“I was very worried [about the hospital bill] because my father was in [intensive care] for a long time,” said Sheryl Tan, recalling the two painful months leading up to her father’s death last year. “So I was relieved when I heard that MediShield Life paid 28,500 Singapore dollars ($20,300) out of the total bill of S$30,000.” MediShield Life is Singapore’s public medical insurance system, which covers expenses for serious illnesses. To support a rapidly aging society, the government has been enhancing state assistance. A policy change in November 2015 allowed people — like Tan’s father — with existing health problems to enroll in the program.
