medishield

ALLOW MEDISHIELD LIFE TO PAY FOR ELDERLY S'POREAN'S EYE OPERATIONS

Poor vision or vision loss among the elderly is a major healthcare problem and many of our seniors will require cataract operations once they hit 60 and beyond. The most common cause of vision loss among our elderly includes macular degeneration, glaucoma, cataract and diabetic retinopathy. A recent check with Tan Tock Seng Hospital revealed to my surprise that Medishield Life does not pay a single cent for cataract operations which cost $950 per eye.

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IS MEDISHIELD THE MOST PROFITABLE NATIONAL HEALTH INSURANCE IN THE WORLD?

With tax collection at an all-time high and an estimated cash budget surplus of $24 billion for FY2014 under IMF fiscal reporting guidelines – why is there still a need to get 25,000 people with pre-existing conditions to pay 30 per cent more MediShield Life premiums for 10 years? We have calculated from the table, that the claims to premiums ratio is 59 per cent (claims $1,395,382 billion divided by premiums $2,353,763 billion). Does this make MediShield the most profitable national health insurance scheme in the world?

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MEDISHIELD LIFE COUNCIL SHOULD ASK ABOUT SURPLUS FUNDS?

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.”

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OVERSEAS SINGAPOREANS WHO DO NOT PAY MEDISHIELD LIFE PREMIUMS MAY BE JAILED

I just read some things about the Medishield Life a while ago. In news report, they say that Singaporeans or PRs who live overseas are also required to pay Medishield Life premiums!? I am overseas now, and probably will be residing there for a long term. I will not likely benefit from whatever this Medishield Life thing because I am overseas and I have my own private insurance to cover. Yet I am being forced to make payment for insurance that will only benefit other people? How can like this one?

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MEDISHIELD FUND HAS OVER $1.7B RESERVES & $2.4B IN ASSETS?

It states that “Mr Gan Kim Yong (Minister for Health): The MediShield Fund’s reserves were at $1.7 billion as at 31 December 2013. The reserves support scheme liabilities that include policyholders’ claims as well as premium rebates to help policyholders with their premiums in their older ages. Of the total reserves set aside, currently about two-thirds support ongoing and future claims while the rest support future premium rebates. The portion of the reserves that support premium rebates is expected to rise in future with the move to distribute premiums more evenly over policyholders’ lifetimes under MediShield Life, so that net premiums after the premium rebates rise less steeply in old age.

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