Ong Ye Kung: Precision Medicine Now Covered by MediShield Life
Singapore will now cover precision medicine therapies through MediShield Life, backed by new laws to protect genetic data and prevent insurers from discriminating based on genetic test results.
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Daily.SG Newsroom
Archive · 10 Oct 2024
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KEY POINTS
●MediShield Life will cover precision medicine therapies, which tailor treatment to each person's unique genetic makeup
●A new law is being developed to govern how genetic test data can be used, with broad consultations planned before submission to Parliament in one to two years
●Insurance companies are placed under a moratorium on using genetic test results for underwriting decisions to prevent discrimination
●The government will subsidise precision medicine therapies that are proven clinically and cost-effective
●The MediShield Life Council will provide more details, with potential local manufacturing to reduce costs and access times
IN SIMPLE TERMS
Singapore is making advanced, personalised treatments called precision medicine available to more people by covering them with MediShield Life insurance. At the same time, the government is creating new rules to keep your genetic information safe and stop insurance companies from using it against you.
WHY IT MATTERS
Patients gain access to more effective, personalised treatments tailored to their genetic profile through improved insurance coverage.
New legal protections prevent misuse of genetic information by insurers, safeguarding privacy and preventing discrimination.
Government subsidies for cost-effective therapies help keep healthcare affordable for Singaporeans.
Investment in local precision medicine manufacturing could spur job creation and reduce treatment costs over time.