7/02/2014

Medishield Life – What to worry about?


Gan Kim Yong has fleshed out some of the details concerning premiums payable in year 2015 and year 2019. Under Medishield Life, with higher payouts and benefits, it is expected that the premiums should logically be higher. But given the fact that the coverage is for everyone, young and old, covering the whole population with everyone paying, would there be economy of scale to offset the premiums to make it even lower instead?

Gan Kim Yong announced that the premiums would be held unchanged for the next 5 years which is quite reassuring. This is possible by taking into consideration all contingencies that could be foreseen, a kind of front loading. So whatever that needs to be added in, real or imagination, or just to take care of the unexpected has already been added to the premiums payable. Just wondering what is the percentage in this front loading to the actual cost? If it is 30%, it means the premiums are already 30% higher than it should be. And this is a very conservative guess. What if you have a decision maker that wants to think of everything under the sky that could crop up and wants to include them for safety measures, never mind, it is ok to collect more?

Would Gan Kim Yong be transparent as to how much has already been added in the calculation of the premiums? There are enough statistics from the Medisave schemes to give a reasonable estimate of claims against cost. As Gerald Giam has pointed out in Parliament, the claims came up to be 67% of the premiums collected. I stand corrected if the number is slightly different from Gerald’s number. The data shows that there is room for the lowering of the premiums instead of raising it like someone who wants to cover front and back and top and bottom, every hole that he can possibly think off or imagine.

Gan Kim Yong has given the impression that he is very concern about the cost of premiums and wanting to ensure that it will remain affordable. I find the affordable formula frightening if the cost of medicare in hospitals is not reined in and not allow to run away like a wild horse. It would be more reassuring if he also announces that the policy and objective of the Medishield Life is not profit making and any profit would be ploughed back to lower the premiums in the future. Would he commit to this?

The other frightening thing about the premium tables is the premium for the oldies. Oldies are expected to continue to pay premiums up to the age of 90. How many people would have the money to pay premiums at that age? Many would have long retired by the time they reached 65 or 70. The PMEs may even be retired by 50 or 55 and cannot find reasonable employment. There are exceptions for people to work to 90. Maybe you can find some working as cleaners in the hawker centres and food courts.

Would Gan Kim Yong want to consider lobbing off the senior citizens from his tables, say by age 70 or 75? Would it be too big a burden for the govt to pay for the oldies? He has said that there will be more govt subsidies to help the seniors, why not have a policy to remove them from the premium tables and the govt absorb the cost? Under the PGP, those 80 and above will not have to pay for the Medishield Life premiums. Is this applicable to those in the pioneer generation but not yet 80? Why is this not extended to the future seniors when they hit 80? How many seniors in the future can afford to continue to pay Medishield Life premiums after paying for a life time and no longer having an income?


Kopi Level - Green

21 comments:

Anonymous said...

May this papigs running dogs n bitches suffer same types of karma experienced by old fart kuan yew n his descendants.

Matilah_Singapura said...

I think the premiums are very reasonable. In fact, maybe they are too cheap...which means it's going to run at a "loss" at least 5 years.

After 5 years, I expect the premium to JUMP radically. Maybe even a portion or all of it might be in form of a direct tax like Australia's 1.5% MediCare Levy which is taken straight out of your pay packet. To those earning 70k+ there is an additional 1.5% "surcharge" from 70k

The average Aust wage is AUD 5700 per month, so many will get caught out in the 3% bracket.

On top of this, you are "encouraged" to take out private health cover, which can be another AUD 5k per annum for a family.

Singapore Medishield Life? FUCK LAH, STILL DAMN CHEAP LEH!!

Please lah redbean. The old fuckers who are going to get sick and become very expensive "liabilities" are only paying less than 50 lousy bucks -- which won't even cover a day or 2 supply of all the expensive drugs they take.

I think the deal is too good to be true. But WTF? for at least 5 years, you can "senang diri" lah.

After that, your backside is going to be torn ;-)

Anonymous said...

"How many seniors in the future can afford to continue to pay Medishield Life premiums after paying for a life time and no longer having an income?"
RB

A lot more than u thought.

Maybe as many as 60% of the seniors, now or in future.

And don't forget, a lot of the seniors in the future may not even be local born Sinkie citizens.

Because by their policies and actions, I think PAP has already written off these "local born and who cannot vote PAP out" Sinkies, whether young or old.

Anonymous said...

Matilar, u die die must post your nonsense everyday. Why don't u make yourself useful by writing your books? Knn, why waste other people's time daily. I will help the book poster to come up with additional topics or subjects for u to write but in the mean time, go write book 16 by using the humor style of writing please.


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2) the art of incest
3) the guide on how to bull shits
4) how to irritate people and waste their time daily
5) learning to be thick skin and flameproof
6) how to tahan when your ass kena fucked
7) how to act as patriot when you are a traitor
8) how to act and look normal when you are actually insane
9) learning to speak when a cock is stuck in your mouth
10) how to con your sisters and daughters to continue having sex with you without reporting to the police.
11) How to develop multi tasking skill. Sharing of secret on Learning how to type on keyboard posting commentary on blog when there is a hard cock pushing in and out in matilar mouth.
12) How to cook two tiny to be delicious enough that the pigs would eat them.
13) How to brag about your intelligence when you have none and how to tahan when both mouth and ass kena screwed at the same time.
14) How to inflate two flat tyres when the holes in the tires have not been mended!
15) How to boast to women you have a rolls Royce when you only have a Mini Cooper with four flat tires and running out of petrol!
16) The matilar secret. How do you stick your little pecker into a donkey's mouth and don't ended up the donkey chew off your little pecker and two tiny.
17) The matilar way. how to satisfy your lust with minimal outlay.keep a little pig, pull all it's teeth and enjoy oral sex each day till the pig grows then sell it to slaughter house as food to make money.

Anonymous said...

Hey mocking bird, your mocking of Matilar is looking more like spamming RB's blog leh.

Anonymous said...

That's why Matilar and even RB is ignoring the mocking bird, just like they would ignore a mad person.

Anonymous said...

May be it is good to think of an unthinkable scenario in which the current ruling party is no longer in power...Then the next question is would our $ in our CPF Retirement Account safe? My own answer is NO.

That being the case, any guarantee from the government agencies or even the Minister is meaningless.

What do you think?

Anonymous said...

2.04pm

yup. logically speaking, lee junior will throw face if sg is gone. a lot of things no choice and he cant tell u.

wp cant help u also when u need help. they are not god. look at the amount of ppl at pap and wp meet the people session.

what do u think that lee junior is god. isnt it safe here and nice in sg? wp cant even help poor ppl with bed bug in hougang. what do u think?

sometimes in pap, there is also black sheep. why are they trying to make u hate pap? what is their agenda?

lhl pay is high for what? maybe he create another place to sustain singapore? rem, we got nth. if his pay is not high, how can he have a buffer behind when singapore fall. it will be so lose face right?

http://www.youtube.com/watch?v=a1WhJKsYb50

think about it. he only got 24 hour. if sg fall, u think he is happy? wont fall? what did wp ahcieve so far. go to wp meet the people session and ask them.

Anonymous said...

What do you expect WP to achieve when it is not in power and along its path is laid with so many obstacles?

b said...

Where to find the latest proposals? Anyway, every demo gov in this world are screwing their people using healthcare because of their bad planning - 1) refusal to train more medical personnel 2) working with big drugs companies by allowing them to charge expensive drugs 3) charging excessive operating costs to run healthcare facilities

Anonymous said...

Sinkies are so blessed to deserve such a clever govt.

Anonymous said...

2.41pm

i am interested to know more.

i understand it is not in power. can elaborate more?

what kind of obstacle?

Anonymous said...

Banana skins, barbed wires, trenches, dog shit, pot holes, pretty women, ....

Anonymous said...

I am cancelling my private shield plan next year once the medishield life kicks in, really no one needs to over insured themselves unlike what the insurance agent or scammer puts it

Anonymous said...

Most Expensive S'pore Beer:
===========================
Forward the link below to all your beer drinking friends, relatives and family.
Let them know just how much PAP government is taxing their beer.
60% of them voted PAP.
This is how you convert them to vote Opposition.

Where The World’s Cheapest And Most Expensive Beer Is Found:
http://www.zerohedge.com/news/2014-07-01/beer-flation-where-worlds-cheapest-and-most-expensive-beer-found

Vote out the PAPigs in GE 2016.
Unless you think your beer is going to get cheaper over the next 5 years.

Anonymous said...

1.49pm, u are matilar fan, lover or boyfriend?

Anonymous said...

1.49pm, till u get a post from matilar that state that he will fuck your mother till his cum shoot through her eyes then u know what kind of animal he is. Don't believe me u just comment on his post then u kena

Anonymous said...

Smokers and drinkers will not vote PAP in the next general election la.
Go kopitiam and see and listen to how they scream and curse the taxes.

patriot said...

Watched the Talking Point Programme on Medishield Life broadcasted by CNA earlier on.
The Panelists appeared unsure of many things regarding Medishield Life, they were quite lost most of the time.

How could the Producer of the Programme produced the Programme with no one from Medishield Life Scheme to answer queries and explain the Scheme. It was truly shoddy.

patriot

Anonymous said...

This is a poison pill for other party that win future elections.


If papigs continue getting the majority, the ppnzi carry on. They still call the shots using legislation to continue pacifying dafts

Either way, papigs win

Anonymous said...

Matilar, u die die must post your nonsense everyday. Why don't u make yourself useful by writing your books? Knn, why waste other people's time daily. I will help the book poster to come up with additional topics or subjects for u to write but in the mean time, go write book 16 by using the humor style of writing please.


1) how to boast about sexual power when both tiny are missing
2) the art of incest
3) the guide on how to bull shits
4) how to irritate people and waste their time daily
5) learning to be thick skin and flameproof
6) how to tahan when your ass kena fucked
7) how to act as patriot when you are a traitor
8) how to act and look normal when you are actually insane
9) learning to speak when a cock is stuck in your mouth
10) how to con your sisters and daughters to continue having sex with you without reporting to the police.
11) How to develop multi tasking skill. Sharing of secret on Learning how to type on keyboard posting commentary on blog when there is a hard cock pushing in and out in matilar mouth.
12) How to cook two tiny to be delicious enough that the pigs would eat them.
13) How to brag about your intelligence when you have none and how to tahan when both mouth and ass kena screwed at the same time.
14) How to inflate two flat tyres when the holes in the tires have not been mended!
15) How to boast to women you have a rolls Royce when you only have a Mini Cooper with four flat tires and running out of petrol!
16) The matilar secret. How do you stick your little pecker into a donkey's mouth and don't ended up the donkey chew off your little pecker and two tiny.
17) The matilar way. how to satisfy your lust with minimal outlay.keep a little pig, pull all it's teeth and enjoy oral sex each day till the pig grows then sell it to slaughter house as food to make money.