Press Releases
Nearly 100% Of Medifund Applications Approved
20 September 2002
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20 Sep 2002
Medifund was set up in April 1993 with an initial capital of $200 million. Over the years, additional funds have been injected into the capital sum when there are budget surpluses. Currently, the capital sum stands at $800 million. Interest income from the capital sum is used to assist needy patients who cannot afford to pay their healthcare bills.
Since Medifund was set up in 1993, a total of 602,912 applications (with an average approval rate of 99.2%) have been approved. For FY2001, a total of 157,190 Medifund applications were considered, of which 156,780 applications or 99.7% were approved, amounting to a total disbursement of $27.2mn.
For FY01, Tan Tock Seng Hospital had the highest number of approved applications (35,005), followed by National University Hospital (28,051) and Singapore General Hospital (26,431). In terms of payouts, Woodbridge Hospital had the highest ($7.9m), followed by Singapore General Hospital ($4.2m) and National University Hospital ($4.0m).
Going forward, the amount available for Medifund assistance is adequate to help needy Singaporeans pay for their medical care.