Tag Archives: medishield

I refer to the article “Six IP insurers stung by underwriting losses as claims surge” (Business Times, Sep 7).

Responding to PM Lee's National Day Rally, Workers' Party's Yee Jenn Jong said he already touched on the dangers of diabetes and the importance of using technology in 2014 as he wanted to make services more affordable. He also thinks the government and its regulations are killing innovation in Singapore. Do you agree?

My 76 years old father got a heart attacked last year (not because of the bill though). At the same time, he was diagnosed to have suffering with both kidneys failure.

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.

My mum received a booklet from MOH about her Medishield Life Policy which started two days ago. Every Singaporean and PR has to have Medishield Life. She has has to pay a premium of $815 per years.

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?

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.”

Our reader has submitted this story about his father's hospitalization, and how his family managed to pay off the massive hospital bill without forking out a single cent in cash. Read with a huge pinch of salt.

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?

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.