Basic Healthcare Sum

According to the CPF’s definition, The Basic Healthcare Sum (BHS) is an estimate of what you need to save up for your basic subsidised healthcare needs in old age, and will be set at $49,800 from 1 January 2016 for all CPF members.


With effect from 1 Jan 16, the Medisave Minimum Sum of $43,500 in the CPF will be converted to a new scheme called the Basic Healthcare Sum and this would be fixed at $49,800 for life. There shall be no further increases unlike the Medisave Minimum Save when the principle of moving target was applied, ie, it can go up and up at the discretion of whoever deems fit. Hopefully this $49,800 jail house rock payment would not be raised again but there is no guarantee that this would be the case.


So it seems that the ransom to be paid to the govt is settled as far as the $49,800 lock up sum is concerned. But does anyone want to know why is there a need for this Basic Healthcare Sum when everyone is already covered by a Medishield Life Scheme? Is it not that the Medishield Life Scheme is to provide basic healthcare protection for the citizens, from birth to death? Why is there another need to set aside another $49,800 in the Basic Healthcare Sum to provide for basic healthcare needs? Is this not double coverage, double payment for basic healthcare protection?


Another question, why is this new change imposed regardless of the age of the CPF contributors? What happens is that someone at 30 or whatever age, will have to top up his Basic Healthcare Sum to $49.800. A person in his 60s, 70s, 80s or older, would also be expected to have a similar sum of $49,800 locked up. Is there anything wrong, illogical about this? Those who have passed their CPF age would have many computations of higher contributions frozen when they hit 55 or whatever the cut off point. Why is this Basic Healthcare Sum be applied retrospectively to everyone regardless of age? I hope I am wrong on this, but no qualifications on this so far.


Shouldn’t those who are already withdrawing their CPF savings under the older regulations be left untouched or their Basic Healthcare Sum be at $43,500 at most? What kind of thinking or reasoning is behind this? What’s wrong with collecting more money? With the Medishield Life Insurance Scheme, there should be no need for the Basic Healthcare Sum.

Let’s return to the concept and purpose of Medishield Life.  What is MediShield Life? Below is CPF’s definition:

‘MediShield Life, similar to MediShield, is an individual basic universal healthcare insurance scheme which helps to pay for large hospital bills and expensive outpatient treatments, such as dialysis and chemotherapy for cancer. It targets Class B2/C wards and subsidised treatment in public hospitals….

MediShield Life provides better protection for all Singapore Citizens and Permanent Residents for life, regardless of age or health condition.’

Should not the Medishield Life protection be enough for the CPF contributors?  What the hell is this Basic Healthcare Sum for? It is definitely not another health insurance scheme and there is no mention of the benefits that it is supposed to provide. It is just like a protection money to be held at ransom.


Can anyone enlighten on this Basic Healthcare Sum and why should there be such a big sum of money to be retained when everyone is already covered and protected by the Medishield Life Insurance scheme?

How much more or how many more insurance schemes should the people be made to pay for? Paying Medishield Life for life not enough, still need to have $49,800 lock up for life? What are its uses and what would happen to this sum of money after the CPF contributor passes away? What kind of interest rate is this sum getting?


Anonymous said...

What's the Rationale in this Healthcare Scheme?
Why was the Citizenry not
involved in such a NATIONAL
SCHEME that affects EVERYONE

Anonymous said...

What part of "you will never see your CPF money again" don't you understand?

Put it very simply.
- If you want to get 100% of your CPF money back.
- If you want the PAP government to pay 100% of your medical and hospitalization bills
You better learn to vote Opposition.

Don't waste your time trying to understand PAP's long sad stories about all the different ways to hold back your CPF money.

Anonymous said...

1. "We want Singapore to do well, so Singaporeans can do well."

- If you believe this, it means that you exist to serve the state and the emperor.
- As an individual and citizen, your welfare and happiness is of little consequence to the state and the ruler
- Only when the ruler and the national reserves is overflowing with riches; then and only then, will some small benefits trickle down to you the citizen

- Traditional Chinese culture and values has been supporting this view for the last 5,000 years

Real Life examples of this view
- you reproduce and make children for the economic benefit of the state and not for your own happiness
- when it's to the state's interest, you stop after two children. At other times, you are told to make more children

- You fuck only for the benefit of the state
- you don't fuck for your own pleasure and enjoyment
- This is "traditional Asian values".

If you protest or disagree, you are a "banana".
- there is no real debate based on merits
- the preferred values are decided by the emperor based on what is good for the state (i.e. what is good for the emperor and his cronies).

The Chinese bananas are the real vanguard that will bring Chinese culture and civilization to new heights and directions.

Anonymous said...

What is "Singapore"?

a) is PAP = Singapore?
b) is LHL = Singapore?
c) is National Reserves = Singapore?
d) are Singaporeans = Singapore?

The only way you will ever get back your CPF money is when you start to believe in (d).
That is Singaporeans = Singapore

When you believe in (d);
you will automatically think and say "I want Singaporeans to do well, so Singapore can do well".
- you will stop thinking that helping your fellow Singaporeans constitutes an act of "subsidy mentality"

How can Singapore do well when Singaporeans don't do well?

Do Singaporeans exist only to serve the state and the PAP government?
Or does the PAP government exist to serve Singaporeans?

"I freed a thousand slaves. I could have freed a thousand more if only they knew they were slaves."
Harriet Tubman

"I have freed 30%. I could have freed 70% more if only they knew they were slaves."

Anonymous said...

Why was the Citizens NOT involved in the National Health Scheme?

Because 70% believe and trust that the Rulers are the Best Calibres to plan for the Livings of all Stinkies.
The 70% trust that PAP will take best care of their wellbeings and entrusted all their fates to PAPies. It's surrendering of themselves to the Rulers.

Anonymous said...

#1 Unhappiness (actually ÷2) on CPF . Direct Unhappiness of mandatory deduction from ownself salary n Indirect Unhappiness of mandatory contribution from employer . Expected Unhappiness from transfer in/out between SA/RA n Unexpected Unhappiness from using (Basic Sum in) MA (after MSL)

#2 Common Sense (and X3) on MSL . Good for unplan (bochap ignoramus alike)/uncover (up-front deny or kick-out unjustly) n Bad for over-cover (haolian super-rich) . Good for use less from MA (after MSL) n Bad for duplicate/redundant private insurance . Good for dont touch cash (hopefully after MA) n Bad for double-triple-whatever charges (higher bills)

- Hands-On Green Matters

Virgo49 said...

Hurry, hurry, hurry, another socalled loop hole for sinkies who believed that their CPF monies need to be locked up. Any lobang to withdraw do it before they close the Gap.

Now, the COE for 1600cc cars fall another 10K. Pledge your minimum sum of property and withdraw the remaining balance for your COE ah! After all, the HDB flat also don't belong to you. Withdraw and buy car before too late.

Or help the shares, stock markets ah!!

Poor re misers earning less than a clerk ah.

Anonymous said...

Why no one interested in questioning the need for this Basic Healthcare Sum?

Anonymous said...

It is for deductibles and co-payments of hospitalisation bills and for out-patient clinical bills. The huge amount is an indicator that our health system is still inadequate cover of the people.

Anonymous said...

Medical & hospitalization expenses should be free for all citizens.

Anonymous said...

Is the following true?

If you vote Opposition, then Medical & hospitalization expenses will be free for all citizens.
But since 70% of us voted PAP, then we all have to Pay and Pay.

But where is the money going to come from?
- From the same place that pays for all the million dollar salaries of Ministers, Generals, Admirals, SMRT & SingTel CEOs and etc.

Anonymous said...

Singapore's giant wealth fund still bullish on China
Tuesday, 7 Jul 2015
Singapore's sovereign wealth fund Temasek is sticking with its bets on China, looking past recent volatility to gradually increase its exposure.

"We remain confident in the long term prospects of the Chinese economy," Wu Yibing, head of China investments at the 266 billion Singapore dollar ($196.09 billion) fund, said at the press conference announcing the fiscal year results.

"The Chinese government is determined to foster the Chinese capital market into one of the most important capital markets in the world and we believe in that, as well that the Chinese economy would become one of the most important economies in the world."



Anonymous said...

@ January 11, 2016 3:39 pm
Hopefully, the smart Sinkies amongst us ... after such bullish statements from Temasek about China in July last year ... would have exited our China investments.
(Temasek Contrarian Indicator)

Fast forward to present day, a short 6 months later ... China is in deep trouble.

See the links below for an alternative investment outlook:

This Is The $3.5 Trillion "Neutron Bomb" That Keeps Kyle Bass Up At Night

46 Months Of Accelerating Deflation Mean Beijing Is Now Trapped

Do you think we will get our CPF money back at age 55 years old?
Do you think the Basic Healthcare Sum will keep increasing as the years go by?
What is the size of Temasek and GIC investment in China?

Do you think the money is better spent investing in the health of Singaporeans by giving us free medical and hospitalization benefits?

look4kc said...

Sinkies are dumbass, at least 69.86% though

Chua Chin Leng aka redbean said...

Welcome to the blog, look4kc.

joe said...

how long more do we need to be bluffed

Ⓜatilah $ingapura⚠️ said...

WOW! Any of you gullible, entitlement-mentality motherfuckers still think that the money in CPF is "your" money?


Anonymous said...

The motherfucker is back. Must have got sick of his mother so come here asking for attention.

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