Medishield Life – Not a comprehensive health plan for sure

When Medishield Life was mooted, there were a lot of expectations that this is it, a comprehensive national health insurance scheme to replace all the bits and pieces that did not fit together, with a lot of gaps and a lot of unnecessary overlapping. Here there is, a newly cocked up, oops, I mean cooked up plan to take care of everyone from cradle to grave, no one will miss out.

And yesterday it was passed in Parliament in the second sitting like a miracle cure all drug. Everyone in Parliament is elated, so proud of being part of this process to bring this baby to life. A great achievement that would go down in history, a historic moment that everyone wants to be counted in.  No need to read the fine prints.

So, is it really that fantastic a scheme? What does it seek to achieve or to replace? Let me think, I thought, yes I thought, it would replace all the schemes in the CPF and those private insurance.  I thought it would replace the Medishield A and B plans. And I think that’s it. Someone was asking me, you mean this comprehensive, national, compulsory and mother of all insurance scheme that was praised sky high by the MPs only replaces the CPF Medishield Plans?

What about the Medisave, what about the Medisave Minimum Sum Schemes, still existing in toto, still got to put money in them like before, still increasing every year? So what, does it mean that the Sinkies would now have to pay for this comprehensive national health plan, and still got to sink in money into the Medisave and still got to have their money locked up in Medisave Minimum Sum, and the amount keeps adjusting upwards with inflation, with no age or time limit?

Wah lan, what is happening? Cover head, cover bottom, cover front, cover backside. The only thing that is not covered is the people’s money, keep going out into all the schemes.

So, are the Sinkies better off? Sure, except that their money in the CPF may not be enough for retirement. And for those who are not working, the jobless and retirees, got no money to put into all these schemes, maybe they would get some subsidies to help them pay for all these schemes.

Did Sinkies ask the govt for it? Did Sinkies ask the govt to help them? Never mind, the govt will help even if the Sinkies did not ask the govt to help them and then point the finger insisting that the daft asked for help, asked for it. It is another entitlement thing, the govt is entitled to come out with any schemes and make the people pay. Sinkies are also entitled to govt help for all kinds of schemes to make life better for the Sinkies, except Sinkies ended up paying. Sinkies must be very grateful for all the help from the govt. What a blessing.

Want the govt to help some more?

Medishield Life – What is so comprehensive about it?

This is touted as a comprehensive national health insurance for all Singaporeans and PRs, a ‘health care safety net that leaves no one behind’. The only thing comprehensive, other than including all Singaporeans and PRs, is the collection of premiums. Here no one is left out, no one is left behind even if you are 100 years old. You PAY ok! And if you are working overseas, you PAY ok! Whether you are paying another insurance premium overseas that is mandated by the host country of your residence, you still must PAY. Any exceptions? I have not heard of any.
 
I will talk about what this Medishield Life is NOT comprehensive in another article later. So, what is the real intent of this Medishield Life other than the broadcast altruistic mission of providing every Singaporean and PR with a national health plan? Anyone wants to guess? And mind you, the govt provide the national health scheme, you PAY!
Oh, the govt is contributing $4b in subsidies. When is the subsidy money coming from? Where is the subsidy money going to? Anyone wants to guess? It would be more exciting and look more generous if the premium is jacked even higher and the subisidy, instead of $4b, make it $40b. Again, ask where is this money coming from and going to? Definitely not a cent goes into the people’s pocket.
 
Think what this Medishield is to you, what it means to you and your pocket. Who is the real beneficiary of this scheme? Must be You right? The answer is so easy.
 
The bill was passed after the mandatory and expected routine of asking questions but nothing change. The bill was passed lock, stock and barrel. The MPs may ask 100 or 1m questions, they will remain as questions. Period.
 
Would anyone want to know why the govt does not say it out loud that the scheme is a NON PROFIT making scheme? Is it so difficult to assure the people that this scheme is all about providing health care to the people and not to make money from the people?
Does anyone want to know why people must pay and pay until they die, if they are so ‘heng’ or so ‘suay’ to live to 100 or 200 years old?
 
Does anyone want to know why Sinkies must be made to pay for two insurance premiums if they happen to work in another country?
 
Does anyone want to know if excess premiums be ploughed back into the scheme to reduce the burden of the people or would it be, like excess S&CC be dumped into another dark hole, as reserves, and people continue to be made to pay happily ever after?
 
What is the assurance that medical fees are allowed to spiral uncontrollably, by ‘market forces’ and nothing can be done about it, like HDB property prices?
All the MPs are so happy about this scheme that they must be popping champagne to celebrate a job well done. And the people must also be so happy and grateful for this scheme. Any more great schemes in the pipeline?

Taking national security for granted?

Magdalene Choo, a research associate at the Institute of Policy Studies conducted a survey on Singaporeans’ attitude towards national security. She was concerned and so was the IPS about our national security. She may want to relate the thinking of Singaporeans and how it would affect out national security. This is a very serious study and I believe the relevant national intelligence agencies would also have our national interest in their minds and would have been monitoring the threats to our country.
It is a good effort to raise the interest of our peoplke with regards to our national security and not to take our national security for granted. This is our country and if Singaporeans are not interested or concerned with our national security, then it is an area of grave concern.
 
We have spent a lot of money and resources on our national security and defence. Our young men have devoted their whole life to the country and paying a very heavy price for it, including family members and compromising their career development.
 
The question is, what is the point of worrying whether the people are interested or concerned with our national security when the Trojan Horse in inside our country? And it is not just one Trojan Horse but many. What is more important is that people who should be concerned with our national security must be thinking about our national security and not compromising on our national security? How safe are we as a country when more than half of the population are foreigners with questionable affiliation, loyalty and interest to our national security? How safe are we when our economy and vital professions and installations are run or dominated by foreigners?
 
What kind of joke is this? I can remember the joke about the British pointing all their big guns at the sea when the Japanese came in from the Malayan mainland. We are concerned that the people are not interested in our national security when we don’t mind sleeping with strangers or inviting strangers into our homes? Do we have any intellect? Do we know where the threat to our national security is coming from? It is like the sheep all up in arms guarding the pen when wolves made up half of the flock in the pen.
 
How stupid can Singaporeans be?

Public Transport Fare Hike obtained by Fraud and Misrepresentation?

Did PTOs Lie to obtain Latest Fare Increase?

By MIKOspace

The True Lies of Singapore Public Transport Operators (PTOs)

Was Law Broken in order to Profiteer?

The Case is strong, definitive and irrefutable. The glaring implications of fraud and misrepresentation are prevalent to demand clear and unequivocal answers from the PTOs. The PTOs, ComfortDelgro and SMRT, are reported to have cited incredulous rising costs and lower profits to justify a public transport fare hike, and to which the Public Transport Council (PTC) have agreed as 2.8% effective April 2015. 

According to Section 24 of the Public Transport Act (Chapter 259B), the PTO’s case for any fare increase has to be supported by submitting to the PTC such documents it desires. None of these documents have been deposited in the public domain in the interest of transparency.

These documents should not be fraudulent or contain misrepresentation to the extent that such misconduct would render any approval voidable.

The PTC shall thereafter consider any fare increase request from the PTOs according to whether such fare increase was NEEDED to maintain the financial viability of the PTO and whether the public interest is safeguarded, among other things.

The Financial Viability of PTO

No reason has been evinced to support any conclusion that the financial viability of Singapore PTOs would be adversely impacted without the approved fare increase.  The over-whelming facts and evidence from various sources are unanimous in their happy finding that both PTOs would be reaping revenue and profit windfalls in 2014-2015 and in the years ahead mainly due to the drastic drop in global oil prices of more than 50% in the last 6 months of 2014.  The financial viability of the PTOs DOES NOT require the 2.8% fare increase because their expected windfall revenue and profits far exceed this amount significantly.

The following paragraphs are adapted from an independent DBS Bank Report dated 20 Jan 2015 BEFORE the transport fare increase announcement.

“Factoring in lower fuel prices, we’ve raised 2015 earnings for Singaporetransport operators SMRT and ComfortDelgro significantly by 7% and 4% for 2015 respectively.”

“The top performers over the last 12 months (of 2014) were led by Singapore’s land transport stocks, with SMRT up 38%, followed by ComfortDelgro with 29%. This can be attributed to the May 2014 announcement of the transformation of the public bus operations into a Government Bus Contracting Model [thereby making ComfortDelgro asset light].”

“Energy and fuel account for 9% and 14% of ComfortDelgro’s and SMRT’s costs respectively, and ComfortDelgro has hedged 70% of its diesel requirements for 2015.  Positive changes their EPS (earning per share) also take into account lower oil price, offset by stronger S$ and lower fare increases.”

Read more in Full Article

“ComfortDelgro has actively hedged its fuel/energy requirements to the best of its ability. It has hedged around 70% of its Singapore diesel requirements in view of the lower oil price. Even if oil price were to trend upwards, the positive is that we would see a lower diesel cost for the Group, given its hedges that are in place.”

The main conclusion of the independent DBS Bank Report is that BOTH PTOs are in the best of financial health in 2015-2017 (at least) and at the top of unprecedented profitability windfalls.

The savings from falling global oil and gas prices are real and substantial. Between July 2014 and January 2015, average gas prices fell by 19 per cent. As fuel costs make up around half the tariff, the electricity tariff between July 2014 and March 2015 has been accordingly reduced by 9.3 per cent.  SMRT depend more on electricity to drive its train and diesel for its buses. Prices at petrol pumps have fallen by 15 per cent between July and December 2014, and are expected to continue falling into 2015. 

Did Fare Increase Safeguard the Public Interest?

Public Transport Fare increases must be “Affordable” and “Justifiable” is the Test for public interest stewardship. 

The latest fare increase requires a S$7.5 million subsidy in the form of 250,000 public transport vouchers of $30 each to help needy commuters to mitigate its negative impact on them.  This is tantamount to subsidising the profits of highly profitable private PTO companies.

It is further announced that ComfortDelgro and SMRT would contribute $13.5 million of the increased fare revenue to the Public Transport Fund for the subsidy of $7.5 million!

Whither then the case of non-financial viability?  The subsidy is also unnecessary if the fare increase were affordable.  It is conclusive evidence that the public interest has not been safeguarded in this fare increase.

Investigation of Fraud by PTC

The Betrayal of Public Trust has finally come to a head as our public transport operators (PTOs) traded social conscience and responsibility for profits when they gradually erode the sacred Social Contract in Public Transport with Singaporean commuters.

Under the PTC Act, the PTC can revoke any approval for public transport fare increase if it found that the increase has been obtained by fraud and misrepresentation.  The PTC should now initiate an investigation as to whether such is the case, if indeed the PTOs did cite rising costs and lower profits to justify a public transport fare hike.

Read Full Article:

Singapore – The True Lies of Public Transport Operators

CPF – Silver Brigade beware

When I hit 55, I was informed that my minimum needed to be retained by the CPF was $X. This sum is fixed and would not increase over time or as the years go by. This is quite assuring haven’t decided that leaving a small sum for retirement uses is reasonable, and with half set off by the value of the flat. This does not mean that I agree with the principle that anyone or govt could use the excuse that it is good for you to withhold your savings. This is fundamentally wrong.
 
Many seniors grudgingly allowed their money to be held in ransom by the CPF and had to squeeze their balls as they have no avenue to fight this policy, at least under this govt. Maybe a change in govt would give them a chance to reverse and get rid of this monstrous logic for good.
 
Then there was another minimum sum that was not that big then, the Medisave Minimum Sum. I would think that the principle governing retention of the people’s savings in the MS would be the same as the Minimum Sum for the whole savings. This is NOT the case. The MS for the Medisave continues to go up over the years. It does not freeze at the time when a member reaches 55. It keeps growing as and when the CPF choose to be ‘caring’ and decides how much to increase every year.
 
How can this be the case? Seniors who are still working or self employed would have their contributions transferred to the Medisave MS whenever it is raised. What the shit! Why is this MS allowed to keep increasing over the years? CPF no money? CPF needs more money? Money sucked into this Medisave MS is like entering a dark hole and can be there until one surrenders the IC. It is as good as money not yours except for those who need to use them for approval medical treatments.
 
I hope all of your can join me to protest against this obnoxious policy of taking our money as and when they like on the pretext of it is good for us. I say bull. Don’t think you can get away with this in the next GE.