Lessons from Singapore: Opt-Out Health Savings Accounts for Australia
Singapore’s distinctive health funding and service provision arrangements have delivered comparable First World standards of care and health outcomes at much lower cost. A new vision for funding health in Australia based on the Singapore model could be achieved by applying the principle of choice for those who wish for an alternative to Australia’s taxpayer-funded, universal health care system. This could be achieved by adapting the superannuation system, and permitting individuals to opt out of Medicare in exchange for the right to establish a tax-effective Health Saving Account (HSA).
David Gadiel is a Senior Fellow at The Centre for Independent Studies.
Jeremy Sammut is a Research Fellow at The Centre for Independent Studies.