New MediShield Life council formed

According to the Straits Times news report “New council to ensure MediShield Life runs smoothly” (Jul 31) – “The council will also advise the Health Minister on matters related to the investment of the funds under MediShield Life.

These funds include any premiums, penalties for late payments, and government grants to the scheme.”


How much surplus?

Don’t you find it rather odd that as I understand it, until now, there is still no definitive answer as to what is the surplus of premiums to claims plus accrued interest, since the inception of the MediShield scheme?

Is it more than a billion dollars, as has been estimated?


Why actuarial study not made public?

So far, we have only had bits and pieces of information like “why is  the actuarial study on MediShield Life not made public – will the huge increases in premiums in the future continue to exceed claims every year?”


Only national health insurance scheme that makes money?

Is the MediShield scheme the only national health insurance scheme in the world that makes money and has accumulated more than a billion dollars of surplus?

Also, it does not cost the Government a single cent, as premiums have always exceeded claims by a wide margin every year since the scheme started.

Is there any country in the world that fines and jails it’s citizens for not paying their national health insurance scheme premiums under MediShield Life?


$4b Govt aid

“Massive government aid, to the tune of $4 billion over five years, will make it highly affordable, the Government has assured. This includes the transitional subsidies which will be given to everyone, rich or poor, for the first four years.

On top of that, two in three people will also get 15-50 per cent permanent subsidies on their premiums. The need to access incomes is to make it easy to identify people who qualify and the amount of subsidy they are entitled to.Additional help will be given to those who still can’t afford the premiums.

For the majority, the higher premiums will be entirely covered by Medisave, with the extra 1 per cent in Medisave contribution from employers.

People who are currently not covered by MediShield and have pre-existing illness will need to pay 30 per cent additional premiums per year for 10 years, after which they revert to paying the normal premiums for their age band.” – Does this $4 billion exclude any projected increased collection of premiums over claims?


Up to 189% increase in premiums?

According to an earlier analysis by Mr S Y Lee and Mr Leong Sze Hian – “111 to 189% increase in premiums?” – “The increase in premiums from 2019 compared to the current premiums, after the declining transitional subsidies range from 111% (from $9 to $19 monthly for the lower-income with household per capita income less than $1,100) to 189% (from $9 to $26 for the high income) for age 31 – 40.

For age 51 – 60, the increase range from 28% (from $29 to $37 for the lower-income) to 83% (from $29 to $53 for the high income).

With regards to the Government providing almost S$4 billion in subsidies and financial support over the next five years – does it mean that the average subsidy per year is about $800 million?


Govt still not spending any money on healthcare?

If so, does it mean that from a cashflow perspective – the Government may still not be spending any money on healthcare, as the total annual contributions to Medisave and the annual interest on the total Medisave balances, may continue to exceed Government healthcare expenditure and all withdrawals from Medisave by way of direct medical expenses, MediShield Life, Private Integrated Plans and ElderShield premiums, etc?”



Win battles lose war

A.S.S. Contributor

Check Also

Taxi Driver Go From Botak To Bruised After Getting Scratched By Drunk Woman

The two women didn't even run away. They ended up on the roadside while bystanders photographed them in their intoxicated state.