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My letter to ST Forum recently. Believe they will ignore me again as they never seems interested to publish financial planning related issues or maybe that I’m not a big shot enough…
** QTE **
Medishield is a low cost catastrophic medical insurance scheme introduced in 1990 to help CPF members meet medical expenses from major illnesses. Over time, several insurance companies introduced their version of shield coverage meant for those who wish to stay in higher wards and hospitals. These shield plans operate on a co-payment feature by mean of “Deductible” and “Co-insurance”. These insurance companies later also introduced riders with premium payable by cash to cover the deductible and co-insurance of these shield plans which mean that their policyholders need not pay a single cent in event they are hospitalised.
Though it is not a desirable thing to be hospitalised but to transfer 100% of the risk back to insurer may increase the chance of exploitation by hospitals and patients. The hospital may order for treatments and diagnostic test, which may not be cost effective and yet generate consumer demand for these intense and costly services. Over time, medical inflation rate will likely rise faster than the national inflation and Singaporeans’ wage increase rate. Read more...[caption id="attachment_1975" align="alignright" width="150" caption="Photo by Bombardier"][/caption]
My letter to ST Forum recently. Believe they will ignore me again as they never seems interested to publish financial planning related issues or maybe that I’m not a big shot enough…
** QTE **
Medishield is a low cost catastrophic medical insurance scheme introduced in 1990 to help CPF members meet medical expenses from major illnesses. Over time, several insurance companies introduced their version of shield coverage meant for those who wish to stay in higher wards and hospitals. These shield plans operate on a co-payment feature by mean of “Deductible” and “Co-insurance”. These insurance companies later also introduced riders with premium payable by cash to cover the deductible and co-insurance of these shield plans which mean that their policyholders need not pay a single cent in event they are hospitalised.
Though it is not a desirable thing to be hospitalised but to transfer 100% of the risk back to insurer may increase the chance of exploitation by hospitals and patients. The hospital may order for treatments and diagnostic test, which may not be cost effective and yet generate consumer demand for these intense and costly services. Over time, medical inflation rate will likely rise faster than the national inflation and Singaporeans’ wage increase rate. Read more...
[/caption]
My letter to ST Forum recently. Believe they will ignore me again as they never seems interested to publish financial planning related issues or maybe that I’m not a big shot enough…
** QTE **
Medishield is a low cost catastrophic medical insurance scheme introduced in 1990 to help CPF members meet medical expenses from major illnesses. Over time, several insurance companies introduced their version of shield coverage meant for those who wish to stay in higher wards and hospitals. These shield plans operate on a co-payment feature by mean of “Deductible” and “Co-insurance”. These insurance companies later also introduced riders with premium payable by cash to cover the deductible and co-insurance of these shield plans which mean that their policyholders need not pay a single cent in event they are hospitalised.
Though it is not a desirable thing to be hospitalised but to transfer 100% of the risk back to insurer may increase the chance of exploitation by hospitals and patients. The hospital may order for treatments and diagnostic test, which may not be cost effective and yet generate consumer demand for these intense and costly services. Over time, medical inflation rate will likely rise faster than the national inflation and Singaporeans’ wage increase rate. Read more...
