In September, Singapore instituted a patriotic package of benefits for seniors, called the Pioneer Generation Package, which not only made important health care expenses like dentures more affordable, it helped keep the country’s inflation problem under control.
A Big Inflation Problem
Over the latter half of the Great Recession, Singapore has been struggling to keep inflation costs under control as the country’s economy recovered. Some years, inflation has spiked as high as 5.3%. But in September, the country reported a much more modest year-on-year increase of just 0.6%. There are many contributors, but Bloomberg cites one unusual cause: dentures.
When the Pioneer Generation Package took effect, it cut deeply into the price of many medical expenses, including dentures. The subsidy on dentures–up to S$266.50 per set–takes a big chunk out of the price of dentures, which typically range from S$250 to S$1500.
Not everyone agree that this is the cause for the lower inflation rate. Other analysts cite transportation and housing sectors as being the drivers of the low inflation rate. They note that the benefits affect only “fairly narrow segment of the population,” in their words. But with benefits taking effect for over 8% of the population, and resulting in such significant discounts, it can’t help but have an impact.
A Patriotic Program
Why did Singapore institute this new benefits program. The name tells its significance: the Pioneer Generation is what the government calls the segment of the population that helped found the country and set it on its path to prosperity. The country became independent in 1965, so next year it is celebrating its first half-century of independence, and it wants to recognize the people who helped make the country so successful.
In order to qualify for the program, Singaporeans have to have been at least 16 at the time of independence, and have to have obtained citizenship before 1981.
Dentures Are an Important Healthcare Expense
Singapore has done a great service for its Pioneer Generation in recognizing that dentures are an important medical expense. Properly fitting dentures can have a great impact on a person’s health. People should not be forced to rely on poor-quality economy dentures because they don’t have a choice.
Unfortunately, too many people still choose economy dentures because they don’t appreciate how much of a difference the right dentures can make. If you would like to learn about the difference quality dentures can make, please call (803) 781-9090 for an appointment with a Columbia, SC denture dentist at Smile Columbia Dentistry.
