News | Insurance linked to high medical inflation
The Straits Times Online / The New Paper, page 1
Medical cost inflation here rose 10 per cent last year, 10 times more than the Singapore economy’s estimated 2018 inflation rate of 1 per cent, according to Mercer Marsh Benefits 2019 Medical Trends Around the World report. NTU Asst Prof Akshar Saxena said that people’s attitudes and beliefs that care should be sought in hospitals or with specialists instead of primary care facilities for common ailments are a concern because hospitals are generally more expensive. Dr Saxena said: “One major concern with varying inflation is that individuals are unable to accurately predict their medical costs in the future.”