First I want to say that I am not a medical Student but I research payment systems for health care
Dr Ben Carson used Singapore as an example as his model but he failed to pont out some issues that result in lower costs Two primary reasons is Government Price Controls and doctors are paid less then half of what American Doctors are paid
Additional information
While it is ranked 6th by the WHO in health care. (2000) It's primarily due to Government Price Controls. (Not the Payment System And Singapore has a Population of 5.187 Million. Far below most European Countries or Canada that have different Payment Methods
While Per Capita Singapore Spends 2592 dollars
And the USA spends 8223 dollars Per Capita
Doctors in Singapore are paid less the Half of what USA Doctors make ( in Canada doctors are paid near the Same or More depending on the Field they are in
Singapore also has strong Government Price Controls on health care .....aka. Government. Regulations
The Cost of living in the USA is also overall lower then Singapore
More failures in an HSA is it assumes a lot of Americans can afford A High Deductible of 10k. Based on a Annual income of 30k for a single person with other required expenses such as housing utilities, car, gas, food and basic necessities Living Frugally a person making 30k a year might have 10k if lucky ...... And everything goes right
Another issue is that after 50 years and putting in 3k a year you will have 150k in your HSA
A drop in the Bucket compared to the cost of healthcare (unless you are willing to take a Drastic Pay Cut among other measures to lower costs Due to Government Price Controls aka Regulations
Example, person making 30k a year might have 10k if lucky ...... And everything goes right
Another issue is that after 50 years and putting in 3k a year you will have 150k in your HSA
A drop in the Bucket compared to the cost of healthcare (unless you are willing to take a Drastic Pay Cut among other measures to lower costs Due to Government Price Controls aka Regulations
Singapore has fewer doctors then the USA, Canada and Western European Countries
Additionally 54 percent of Singapore's health care expenditure is Out Of Pocket
Additional Info
Universal Health Coverage through Public-Private Partnerships in Primary Care - The Case of Community Health Assist Scheme in Singapore
" Table 1 below provides a breakdown of Singapores total health expenditure. The breakdown shows that Singapore has a particularly low share of government expenditure on health, with the bulk of it being private expenditure. Singaporeans rely extensively on out-of-pocket payments to finance their healthcare, with at least 50 per cent of total healthcare expenditure being borne by out-of-pocket payments. However in 2010, data indicated that the out-of- pocket payments as a share on total health expenditure for OECD nations averaged 20.1 per cent; while the public expenditures share on total health expenditure for OECD nations averaged 72.2 per cent. In contrast, the public expenditures share on total health expenditure in Singapore stood at 36.3 per cent in 2010. The share of public expenditure on total health expenditure has indicated an upward trend over the years, and this poses critical public policy questions on the sustainability of the current financing model. Although the share of out-of- pocket payments on total health expenditure has shown a downward trend over the years, out- of-pocket payments still form the bulk of total health expenditure. This also raises public policy questions on efficiency, equity and adequacy of Singapores healthcare system."
http://www.economistconferences.asi.../files/uploaded-resources/CHAS-Sinagapore.pdf
