SINGAPORE: A tripartite work group has been formed to look into
the issue of portable medical benefits, said Health Minister Gan
Kim Yong in Parliament on Tuesday (July 8).
Mr Gan said the Singapore National Employers Federation (SNEF),
the National Trades Union Congress (NTUC) and the Government will
look into what more can be done to encourage both employers and
employees to shift to portable medical benefits built on MediShield
Life.
He said the Government will also consider strengthening
incentives to companies that are willing to provide portable
medical benefits that ride on MediShield Life for their
employees.
The universal healthcare insurance scheme provides an
opportunity for employers and unions to work together to better
assure workers of lifetime medical coverage, and not just the
duration of their employment, he added.
Mr Gan said it is also essential that MediShield Life, which
will kick in at the end of 2015, remains sustainable in the long
term.
"We must therefore set aside sufficient reserves in the
MediShield Life Fund to prepare for future liabilities, including
long-term recurring claims and future premium rebates that arise
from distributing premiums over our lifetime," he said, adding that
the scheme is not for profit and the reserves remain in the pool
for the protection and benefits of the policy holders.
"The Government will continue working with the actuaries and CPF
Board to ensure adequate provisions are made for expected future
pay-out commitments as well as unforeseen circumstances," the
minister added. - CNA/kk