Similarities Between Healthcare And Us Healthcare

The healthcare systems of the US and Singapore have many widespread similarities despite their very contrasting beginnings. As modern, first-world countries, many view that the Government should be responsible or at least play an active role in the ability for all citizens to have access to health equity regardless of financial standing. In the US, the early foundations of the healthcare system was put into place towards the end of WW2 as a result of Employer-sponsored Insurance (ESI). Because money and labour was scarce after the war, it was seen as a way to attract and retain employees. The government soon recognised the benefits of private health insurance and the employment-based model of risk pooling. It offered employers tax breaks for

The Government would then on a case-by-case basis provide insurance to certain underprivileged group of citizens. With the changing times and public voice for healthcare reform, both countries are seeking to upgrade their respective healthcare coverage systems. In the subsequent paragraphs, I will draw similarities between this reform, and the common cause that has resulted in the reform.

Firstly, the root cause of this reform is the fact that the premiums required for coverage is too high to afford for the government. In both countries, the employer is usually responsible for insuring their employees. Unemployed and retired individuals lack the money for treatment, especially long hospital episodes. Often, they are also the group that is most in need of healthcare insurance. To get a better understanding of this lapse, we need to closely understand the healthcare systems for both the US and Singapore over the past few decades. In the US, the legacy of ESI has remained strong. Employers have benefited from it by retaining employees and tax exemptions. Currently, 192 million Americans representing 60% of the non-elderly populations have access to healthcare through the scheme. Arguably, it has lowered the

Economists and health policy experts agree that Medicaid and Medicare are unsustainable in their current forms, because they are growing much faster than the economy or the revenues used to finance them. With no change in existing law, the Congressional Budget Office says that the cost of Medicaid will double in 10 years and the program will account for more than 20 percent of the budget. Especially in the case of Singapore, by 2030, only 2.1 adults would be in the working range of 20-64 for every person above the age of 65. Thus, the government’s ability to provide for this group of people will be