How does Singapore’s system work?

Individuals save 8-10% of their salary in personal accounts to pay for healthcare expense. The funds are used for specific healthcare expenses, such as hospitalization, day surgeries, outpatient procedures and long-term care. Medisave can be used for the account holder or immediate family Medishield Life, is a universal mandatory health insurance covering catastrophic healthcare costs. It is funded by annual premium Medifund is a government-fiannced safety net program designed to assist the poor in meeting healthcare costs not covered by Medisave or Medshield Life