<description>&lt;p&gt;Healthcare in Singapore is getting more expensive, and fast. The latest WTW Global Medical Trends Report predicts medical costs could jump 16.9% in 2026, up from 15.5% last year and just over 12% in 2024, putting Singapore at the top of the Asia-Pacific chart.&lt;/p&gt; &lt;p&gt;At the same time, new insurance rules coming into effect this April mean patients may have to pay more out of pocket before coverage kicks in, even as premiums for some plans dip.&lt;/p&gt; &lt;p&gt;What&amp;rsquo;s behind these rising costs? Is healthcare becoming less affordable for everyday Singaporeans?&amp;nbsp;&lt;/p&gt; &lt;p&gt;On The Big Story, Hongbin Jeong speaks with &lt;strong&gt;Dr Akshar Saxena, Assistant Professor of Economics at Nanyang Technological University&lt;/strong&gt;, to find out more.&amp;nbsp;&lt;/p&gt;&lt;p&gt;See &lt;a href="https://omnystudio.com/listener"&gt;omnystudio.com/listener&lt;/a&gt; for privacy information.&lt;/p&gt;</description>

Money Matters with Hongbin Jeong and Chua Tian Tian

MONEY FM 89.3

The Big Story: Medical cost inflation to hit record high - Will healthcare become less affordable in Singapore?

MAR 31, 202612 MIN
Money Matters with Hongbin Jeong and Chua Tian Tian

The Big Story: Medical cost inflation to hit record high - Will healthcare become less affordable in Singapore?

MAR 31, 202612 MIN

Description

Healthcare in Singapore is getting more expensive, and fast. The latest WTW Global Medical Trends Report predicts medical costs could jump 16.9% in 2026, up from 15.5% last year and just over 12% in 2024, putting Singapore at the top of the Asia-Pacific chart. At the same time, new insurance rules coming into effect this April mean patients may have to pay more out of pocket before coverage kicks in, even as premiums for some plans dip. What’s behind these rising costs? Is healthcare becoming less affordable for everyday Singaporeans?  On The Big Story, Hongbin Jeong speaks with Dr Akshar Saxena, Assistant Professor of Economics at Nanyang Technological University, to find out more. See omnystudio.com/listener for privacy information.