Dr Koh said that the net premium increase after subsidies will be limited to around 10 per cent in the first year and added: “We will continue to hold to our commitment that premiums will be affordable and no Singaporean will lose their MediShield Life coverage due to financial difficulties.”
The MediShield Life Council has recommended that the Medishield Life scheme be enhanced and the premiums be adjusted to…
Posted by Koh Poh Koon – 许宝琨 on Monday, October 19, 2020
SINGAPORE: Premiums for MediShield Life may increase by up to 35 per cent in the next few years - before subsidies - as the MediShield Life Council seeks to improve benefits of Singapore’s national health insurance scheme.
“The MediShield Life Council has made preliminary recommendations for the MediShield Life benefits to be enhanced, and for premiums to be correspondingly adjusted,” said the Ministry of Health (MOH) on Tuesday (Sep 29)." ....
Under the recommendations, those aged 61 and above will see the highest increase in premiums of about 35 per cent, before subsidies.
But
the net increase for all Singaporeans will be kept to about 10 per cent
in the first year, after factoring in existing and additional
subsidies, including a one-off COVID-19 subsidy announced on Tuesday. CNA
While the premiums collected in the last 4 years have been more than the payouts, with an average of $1b left in the reserves, ie premium collected less payout.the conventional term for this is gross profit, Medishield Life premium is expected to go up as much as 35%. There are two main reasons for this. One, must make provisions for more claims, real or just a projection only, never mind. It is the people that will be paying, ie OPM. When making other people pay is concerned it is always good, excellent, to err on collecting more than collecting less. Must build on the reserves, the bigger the reserves the better. The profits are now termed as reserves or put into the reserves for payouts in the future, like a rainy day.
The second reason for premium hike is more benefits, enhancements. Wow, the govt is so caring. They want the people to be very well taken care of, with more benefits. Say thank you to the govt for this kind and compassionate intent. Wait a minute, someone said before, when the govt is going to help you, be frighten, be very frighten. I think no need to be frighten lah. Only pay and pay with your CPF that is actually not your money what. So why worry, why be unhappy? But make sure you put in more money into your CPF to save for your retirement. There is a big hole that will keep leaking money from your CPF. You can never have enough money in your CPF just like you can never have enough of enhanced benefits. Think of it also feel shiok. Come on, tell us how much more benefits we can get, just like looking at the CPF statements and smile.
Singaporeans are so fortunate to have so many caring people, caring about their CPF savings and their well being. You can never save enough to contribute to more voluntary schemes that are planned for your own good by the govt. What more compulsory schemes in the pipeline to tap on your CPF savings?
Got some more or not? Thank you very much.
The moral of the story is that other people plan and you pay. The good thing is that you don't have to think and don't have to plan. Let others do the thinking and planning for you, using your life savings. And you cannot say no, cannot opt out.
PS. This is another scheme that says CPF is not your money. Other people will decide what you need, how much you need even if you don't need, and how much they want to take from your CPF. And you cannot say no, cannot complain. You just have to pay and pay.
Rb good article. I think some people needed to be sodomized jialat jialat to wake up?
ReplyDeleteThe Asshole doc is an Asshole alright. During such a time of difficulty, how dare he proper his gang by sucking the blood of the old people. The medishield is making more than $1 billion a year and he is trying to justify by talking about future requirements. Of course, in future everything goes up. The question is
ReplyDeleteWhy should we pay for future when present profits of medishield life is already making profits year after year by the billions and the payout per year is only less than 10% of total collections?
What is enough?
Correction: proper should read as prosper.
ReplyDeleteThis is a case similar to NKF fiasco under TT Durain. Keeping 90% of donations for future and only 10% given to those in need. And the money was used for 'investments' (gambling in the stock market).
ReplyDeleteI got a feeling someone has lost a lot of money and is getting very desperate and ruthless.
ReplyDeleteBe warned, DO NOT rob people's coffin money!
ReplyDeleteWe are very exasperated with the 61.24 %
ReplyDelete
ReplyDeleteI am a senior or pioneer citizen. Everytime when I asked the cashier at TTSH or NUH to activate my Medisave for payment I was told either my Medisaave had either insufficient or no more money. Then I told the cashier to kick in my Medishield for payment. I was told I could not use my Medishield. Alright then use my Eldershield, I told the cashier. That Eldershield cannot be used also. I was given all kinds of spurious reasons as stated in the two shields regulations why I could not use both the Medishield or Eldershield. Then why forced the people to buy these useless insurance schemes. So it is not wrong when people say they are schemes to siphon off the people's money legally. They shield the politicians position and high emoluments but not the people's health problems and payments. There should be no compulsion on useless insurance schemes. They add more problems and worry to the people who are impoverished by the compulsory payments. I couldn't help but to forego an operation for osteoarthritis and another operation for a small stone in my liver because I could not afford the operations financially. Fortunately a good friend gave me a handbook on ancient Chinese medicine and treatment which turned out to be of good help.
I am an octogenarian who feel cheated by the compulsory medical insurance schemes.
Dr Ho Ting Fei: Give Dignity And Respect To Workers Earning Less Than $1300
ReplyDelete- More at AllSingaporeStuff.com https://www.allsingaporestuff.com/
FB: http://fb.com/allsgstuff
Hahahahah, what respect, earning less than $500k people also insulted as mediocre. Earning $1,300, where got hope? How to respect?
Anon 9:44am, not to worry, help is around the corner. Your problem now is that you are not paying high enough premiums.
ReplyDeleteWhen they made you pay a hand or a leg, then all your problems solved. But not sure what is left in your CPF. They are still scheming how to make you pay more and what reasons to justify to take more from your CPF savings.
Yes, there is a price to take people's coffin money. Nothing is for free.
PAP’s Edward Chia: Wage increases without corresponding skills puts workers at a higher risk
ReplyDeleteThe PAP MP said that otherwise it would burden businesses and put jobs at risk and increase costs for consumers without adding value, which he called “a slippery slope towards lower competitiveness”
When they raised their own salaries to millions, promoted themselves to all the high paying positions, were there an increase in their skills, would they be a burden to the state's coffer? What value add?
If they forcibly take human organs such as kidneys, heart, liver and corneas from people under Human Organ Transplant Act, they should at least compensate the people or their family members for the organs they took under the HOTA law.
ReplyDeleteMany oldies did not have any income and whatever few dollars left in their CPF is all they got.
ReplyDeleteStop the evil scheme to fleece the oldies of their last few dollars.
OMG that Colon Doctor look like a Count Dracula being erected to keep sucking blood monies from its people really jim hor sim jit bai hum lio ai si bei si ai dan gor ni hou dou suan kar wu eng la jin kan kor lio..
ReplyDeleteSome people are treating the CPF as their private ATM. When they run short of money they would go to the CPF ATM to take. And the owners of the money cannot do anything about it.
ReplyDeleteWho would be able to punish these robbers of poor men's life savings?
For they utterly have no conscience at all, not even a little sense of guilt.
If Heavens got eyes, karma will find unto them (aka robbers), let the One Up There do His job, some more 'cleansing' akan datang..
DeleteThe cunning wolves are using forced-down-our-throats insurance scams and continuously-rising premiums to deplete all our CPF savings so that at the end of the day they need not pay back the loans that they have taken from the CPF. KNN.
DeleteOn the international scene karma is working very hard to cripple the evil Americans as well as the European countries. A seemingly little virus that as Fauci said, does not need rocket science to deal with, is bringing the economies of all the western countries to a near standstill.
ReplyDeleteThis restraint on the West is freeing China to rise above them, free of virus and running its economy in full steam. No matter what the Americans and the West tried to hold back China would not work.
China is now on the roll while the West is rolling in the shithole created by the little virus and sinking into a quicksand.
China does not have to do anything to attack the West and the evil Americans. Everything is turning in favour of China despite lol Pompeo and his wicked men going all over the world to smear China, to want to start a war with China.
The Shithole (literally) Doctor has again projected himself as a real asshole bandit (methorpherically).
ReplyDeleteNo wonder he was rejected by the voters the very first time he went in for election. Then second and third times shamelessly hitch a ride wlon the back of a big whale in order to enter parliament.
Next election, must vote out the whole GRC team that he will be in.
Keep sucking old people's hard-earned sweat and blood money,will one day themselves see blood flowing out (from accidents, childbirths, surgeries, or riots) or infected by blood diseases (such as leukaemia, dengue fever or malaria).
ReplyDeleteThat is karma.
No matter what religion or no religion, karma will still follow you for the evil and bad deeds done upon the masses, especially against the weak, old, powerless and women and children.
Curse those who forced old people to pay for unwanted insurance scams/schemes.
ReplyDeleteMay Heaven open its eyes and see the old, powerless and helpless people suffering under the cunning, powerful, ruthless, unscrupulous and unconscionable blood suckers, and bring justice on behalf of the old, powerless and helpless people as soon as possible?
ReplyDeleteIntercession Praying.
A loving couple died after eating poisoned pickles. For three days, their five year old daughter looked after her one year old brother and herself to keep alive.
ReplyDeleteThey were discovered only after their parents' friend called up to find out why they did not turn up for the neighbourhood party three days ago.
The five year old girl answered the phone and said, "Mommy and daddy are sleeping for a very long time. Daddy's body turned black."
Moral of the real life story:
Don't anyhow eat preserved pickles. The preservatives may turn poisonous after certain due date.
Just like your CPF savings. The preservatives (or preservators) may turn poisonous after your CPF savings' due date. And you have to die in order for your savings to return to you in full.
Singapore's population is 5,864,969 as of today.
ReplyDeleteCorrection:
Delete5,864,979 - Oct 2020.
5,804,337 - Oct 2019.
5,743,373 - Oct 2018.
That means, average increase per annum is around 61,000 - half local born, half imported.
Average growth rate is around 3%.
What do the figures tell you?
Notes:
1. The imported ones become eligible voters almost immediately, while the local born ones have to wait until they reach age 21 to become eligible voters.
2. The imported ones do not have to serve 2 years NS and 13 years reserve liability, while the local-born ones have to.
So, who do you think employers automatically prefer to hire? Answer is obvious.
Implications:
1. Imported ones have first priority in the job market.
2. Local-born ones become an automatic ostracized unwanted people, even disposed and disposed off by their own leaders.
3. A breaking point will be reached when The situation becomes unbearable and intolerable to the local ones. Then all HELL will break loose. There will sure to be bloodshed and the blood Will be in the hands of those responsible for creating this envisageable situation today.
"This life's five windows of the soul
ReplyDeleteDistorts the heavens from pole to pole
And leads you to believe in a lie
When you see with, not through, the eye."
~ William Blake
MONEY
ReplyDeleteIS PRIORITIZE
OVER LIFE
IN SIN.
在这罪恶的社会,
钱财比生命更被重视。