Saturday, September 28, 2013

Affordable + Promise

They have not work out the details and yet our govt has been running propaganda over the TV aggressively.  They are telling us Medishield Life would be 'affordable' and how 'good' the policy is. When they start giving promise without details - it is very worrying.

We have experienced promise which either never materialized or headed in the opposite direction. We have seen how when it is clearly not affordable (HDB flat), they would get their minister in charge to try to brain wash us with skewed statistics and numbers.

How can it be affordable when existing scheme under CPF Medishield is not once you cross over to the senior citizen group? Currently they don't even cover pre-existing illness and also not till you die. The new scheme covers everything under the sun, which private insurance scheme dare not even touch.  How then can the premium be affordable ?

Since it is for life - does it mean from birth ? If so, parents have to start footing the Mediashield Life premium till the child grows up and take over ? We know how stingy our govt is towards us, so if those elderly who have children though they are struggling to make ends meet, do they need to forgo food just to pay up the premium ?

Pity the person if he/she is the sole breadwinner for the family.  Besides footing his/her own premium, there are those of spouse, parents, children and even in-laws to pay up in the worst case scenario.  

The current deductible is high, so likely Medishield Life deductible will be even higher.  Since all our hospitals are privatized, it is likely they will take this opportunity to profit from the new policy. Medical cost can only go up.

Our govt is very good at paper exercise. When it comes to actual policy and implementation, things often turn out bad for us at the receiving end.  We can say bye to our Medisave saving that is for sure. It will be suck dry by Medishield Life.  For low wage earners, if they have no cash to meet immediate medical cost, they will not be able to tap on their Medisave account in future. It is surely a bright future for those in the money lending industry.

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