Medical bills in tens of thousands are increasingly common. How many average Singaporeans can afford to cough out this sum of money at one go? And bills of several hundred thousands are just as common in terminal cases or cancer treatment. What to do, everything is getting more expensive. And the medical professionals are humans too and need the money to pay for all the expensive things they need for a good life. The rentals for their office space do not come cheap. The $20m bungalow is something that they need for a more comfy life, and so is the $1m Lamborghini. It is not their fault and there is nothing wrong with them wanting the good life.
When the cost of everything goes up, especially housing, properties, the good life, someone must pay for it. And in professional services, the cost will be passed to the consumers, plus more profits added for good measures, or for the next property or the next car. The inflation game will be nice to play if money is available to everyone, especially the average Singaporeans who form the bulk of consumers. Unfortunately their income does not grow in the same rate and every little increment will be eaten up by the little increases here and there. And when a big medical bill drops into the mail box, it will clean up everything, and some may end up in debt.
Gan Kim Yong is going to make medicare more affordable. No one will be deprived of medicare. The cost will be manageable. Don’t be shy to ask for help. Don’t be shy when they mean test you. They mean well and you may be lucky the govt will provide some assistance through Medifund. And for the fortunate, the bills may end up as arrears in the hospital’s account. Did the patient abscond, in debt and unable to pay, or simply die? Whatever, it is a happy thing that so many people cannot pay their medical debt. Maybe the hospitals will close an eye. Surely they will not paint O$P$ on the debtors’ doors.
And since people have more money in their Medisave Accounts, more will be made available to pay for their affordable medical bills. This reminds me of the money in people’s Ordinary Account. Since they have so much money, HDB prices will be made affordable for them to pay through their CPF savings, and so affordable that nothing much is left for retirement.
I thought a better solution will be to stop people from accumulating too much savings and have more money to spend on other things. If the affordable bills will inflate according to the fattening of the Medisave Accounts, I am worried that it will end up like the empty Ordinary Accounts.
Every time the word affordable is mentioned, it sends a chill down my spine.