Thursday, February 21, 2013

Medishield Premium Increases from 1 Mar 13

CPF Board has sent out unwelcome letters to inform us that they are going to deduct more money form our CPF account. The usual strategy use by the govt under PAP whenever they increase fee is to give us 'peanut' and ROB us of our 'walnuts'.

So my medishield premium is increased by $120, from $225 to $345. This is more than 53% at one go!!  They have the cheeked to tell us that the govt will provide a one time top-up to 'help' offset the premium increases so that we can 'enjoy' the 'enhanced' Medishield benefits. The top up is suppose to offset the premium for 2 years.

My top up is $200, which means the offset per year is $100. It is not even enough to cover my annual increase of $120.  The worst is I have to fork out so much more premium in the future !

Notice all the positive words they use - 'help', 'enjoy', 'enhance'.  Then CPF will use the highest figure, $400 of top up for illustration, basically to present 'brighter' picture. All craps !

What enhancement are we talking about when they increase the deductible by $500 !  It is the hefty deductible ($1500 for Class C and $2000 for Class B wards) that makes medishield a white elephant scheme to most of us. Personally I have underwent 4 day-surgery in hospital over the years and have not been able to claim medishield even once due to the high deductible. Now it is even higher !

In fact the medishield scheme is not design to help as the deductible for day surgery used to be even higher than hopitalisation.  Most of us will opt for day surgery if we can to save on hospitalisation cost.  But the scheme favours hospitalisation. The reason is obvious - to make more money from us even when we are sick. The worst is that it aggravates the demand for hospital bed, which is already short in supply, as govt neglected to boost up healthcare while busy importing immigrants to jack up S'pore economy.

For the elderly, medishield is killing them as the premium and deductible are sky high. At its current max - it is $1190.  The deductible for the elderly age 81 to 90 is $2000 for class C, $3000 for class B ward. For day surgery it is $3000 ! Our seniors are near the end of their lives and their savings will be at the lowest. They will be hardest hit should they not fall seriously sick or died. Their CPF will be suck dry and they still have to fork out hard cash for their healthcare needs.

The medishield scheme is not helpful at all as it is design for very serious and terminal cases. Basically for normal and aging healthcare needs - we are coming out cash. CPF is just using this scheme to profit as much as possible from all its members.

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