Seems to be an American term?
https://en.wikipedia.org/wiki/Socialized_medicine But I agree with what you are stating. (Though if you call that system 'socialized', then the American systems are also 'socialized' to a large extent. So it's probably better to just talk about specific feature instead of such a loaded term.)
The aspect of the system that I wanted to highlight is that routine care is paid for out of the health savings account (Medisave), and not out of the insurance portion.
Another interesting aspect is that the bill you get for treatments always mentions the total cost and any subsidies you are getting. All very transparent.
There's also always a co-pay as a matter of principle, even if it's just a few dollars.
