Tag: Singapore healthcare expenditure

Healthcare Costs is Rising in Singapore Faster Than GDP Growth: How Will This Affect You?

Last month, the PM sounded an alarm that is not entirely unexpected – that as Singapore ages, healthcare cost is bound to increase and hit levels of spending that will continue to break historical records. The Singapore government’s healthcare expenditure has skyrocketed from $3.9 billion in 2011 to an estimated $10.2 billion in 2018 — this means that in 2019, Singapore’s healthcare expenditure would be triple the amount spent in 2011! The PM made it loud and clear that this is not sustainable and Singapore needs to look for new ways to manage and fund the rising healthcare costs – which is only going to get worse at an even faster rate by 2030, where 1-in-4 will be over 65!

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