SS Chap 7 Part 2 - Healthcare

Which country adopts the Market Based Approach?

• USA

• Singapore

• Sweden

Which country adopts the Shared Responsibility Approach?

• USA

• Singapore

• Sweden

Which country adopts the Government Financed Approach?

• USA

• Singapore

• Sweden

What are 2 benefits of the Market Based Approach?

• With insurance, citizens don't need to worry about paying for healthcare

• All low income citizens have access to healthcare

• Citizens have the freedom to decide how much they wish to spend on healthcare

• Citizens receive various government subsidies for healthcare

What are 2 challenges of the Market Based Approach?

• Many low income citizens may not have insurance

• Citizens face high taxes to support healthcare costs

• Private healthcare providers do not seek to improve the quality of healthcare

• Profit driven insurance companies may refuse to provide insurance for those with recurring illnesses

What are 2 benefits of the Shared Responsibility Approach?

• The government provides many healthcare subsidies and safety nets

• CPF set aside in Medisave helps pay for healthcare

• Citizens have the freedom to choose how much to pay for healthcare

• Citizens from the high income group contribute to the healthcare subsidies of those in the low income grouo

What are 2 challenges of the Shared Responsibility Approach?

• Citizens are faced with high taxes

• It is difficult to keep healthcare costs affordable with an aging population in Singapore

• Singapore needs to build more healthcare infrastructures to prevent the system from being strained

• Low income citizens receive less subsidies compared to high income citizens

What are 2 benefits of the Government-Financed Approach?

• All citizens, regardless of income, have equal access to healthcare

• Low income and high income citizens are taxed the same amount

• The government pays for almost all healthcare services

• Public healthcare providers stand to gain high profits

What are 2 challenges of the Government-Financed Approach?

• Low income citizens do not receive enough subsidies

• Citizens face very high taxes

• Citizens face long waiting times at clinics

• High income citizens do not receive high quality healthcare services

How does the Market Based Approach keep healthcare affordable?

• Citizens no need to worry about paying for healthcare because of insurance

• Citizens are able to pay for healthcare when needed

• All citizens have access to healthcare