Insurance
The Oprah Show
By Patrick Lim  •  January 16, 2008
By: Patrick Lim Just caught the Oprah show - "Sick in America, it can happen to u" on the hallmark channel which was telecast from 10 to 11 pm. One of the guests for tonight's episode is a celebrity film-maker, Mr Michael Moore, who gain fame for his documentary, Fahrenheit 9/11. Tonight's show highlights his latest piece, sicko which is an investigation of the American health care system. Here is a piece of statistics that is indeed startling because there is an estimated 47 million Americans who are not covered by medical insurance. Today's show also focuses on the exorbitant healthcare costs in USA. For example, to treat leukemia costs a whopping US$600,000.00! Michael Moore cited that the number one cause of bankruptcies and homelessness in America was the inability of Americans to pay medical bills. Patrick's Comments: Understandably, healthcare costs will always remain a topical issue in any country. we emphatise with all of the 47 million Americans without medical insurance for one reason or another. Our health minister, Mr Khaw Boon Wan has done sterling work with many initiatives in place, one of which was the implementation of the integrated shield reform in mid 2005. Another significant one was the move to automatically insure all new born babies under the basic Medishield scheme.
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.
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