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Old 4th June 2018, 03:20 AM   #1 (permalink)
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Calculation: Medishield-life is a Swindle of Singaporean Poor.

Calculation: Medishield-life is a Swindle of Singaporean Poor.

Rich Singaporeans claim 2.03786x more then middle class, what more the poor?

According to MOH stats, "Nine per cent of full rider policyholders made claims in 2016, compared to 7 per cent of those without riders"

"According to MOH, the average bill claimed by a full rider policyholder cost S$9,093 in 2016, about 58.5 per cent higher than that of an average IP holder (S$5,738). Patients with riders were more likely to visit private hospitals than those without riders, contributing to a bulk of this differential. "


Calculation:
Since hospitalization claims rate for rider holder is 9% as opposed to 7% for non-rider holders and also 1.585X more for rider holders,
Increase payout value to rider holders= 9/7 X 1.585= 2.03786 times that of average IP holders.

Since private insurers selling IP plans make claims from (and basic premium payments) to MOH wrt medishield-life, it can be said that those with full riders make in excess of 2X claims from the common medishield-life insurance pool.

Pls note that the actual multiple may actually be even higher than 2.03786 times, since MOH own definition of the 'average IP' holder is likely to also include BOTH partial and full rider holders, the latter of whom make up 30% of the IP pool which in itself is constituted by the more wealthy 68% of Singaporeans.

It was also reported that poorer Singaporeans are unable to receive proper public healthcare cancer treatments because even the public transport costs to and from hospital may turn out to be a hindrance in itself.

It is also noted that the MOH is subsidising many wealthy Singaporeans indiscriminately just based on their declared household address and income levels even though by the fact that these Singaporeans can afford not just IP plans or worse, even very expensive full rider add-on plans, remains prima facie evidence that (MOH is squandering state funds to buy votes given that) by their expensive taste for expensive insurance products, these same wealthy folks are indeed very well to do.

In its inception, MOH explained the huge jump in compulsory medishield-life premiums over the old optional medishield plans by using 'prefunding' (with the option of future premium discounts and refunds) as the reason why basic medishield-life premiums for the young increased so much. Yet, short of doing IP plan insurance companies a business favour and helping them mediate amongst themselves an agreement to cease the sale of loss making full rider for medishield-life IP plans (and coincidentally reducing the population of (double value claims) full rider holders in the process), MOH is doing precious little independently to lead in reducing the raw deal that medishield-life especially gives to the poor ('prefunding') and the SQUANDERING OF STATE FUNDS, aka increase in GST. Perhaps, for a start, all basic medishield-life subsidies to anybody with an IP rider should be REMOVED with immediate effect and those with IPs, 1year later. Only those on BASIC medishield-life compulsory insurance (and no other hospitalization insurance plans) can qualify for medishield-life premium subsidies of any form.

In short, medishield-life and its subsidy structure is a raw deal for poorer Singaporeans and a big extravagance of government funds with the consequence that GST has to be unnecessarily raised for all.

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Last edited by BicCherry; 4th June 2018 at 05:20 AM.
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Old 20th June 2018, 06:47 PM   #2 (permalink)
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Re: Calculation: Medishield-life is a Swindle of Singaporean Poor.

Originally Posted by teaserteam (SGtalk)
So the Gov protects the insurers from losing money at the expense of citizens just because there are a few black sheeps who misused the insurance to pay many unnecessary hospital bills? Why the bulk of us have to suffer because of this?
Doctors like the following (Dr Lim Wee Kiak) also equate high earnings with dignity, they are medical specialist in private practice and also sitting as MP in parliament. As mentioned, medishield-life insurance MAIN PURPOSE is to protect against HIGH hospitalization bills, not ALL hospital bills. The design of medishield-life makes the patient one important safety check that treatments are cost effective and not merely cosmetic or to bankroll doctor's path to get filthy rich.

Law is law...gahmen says no drugs/private gambling, do doesn't mean that within confines of private residence can do drugs or operate gambling den.

Likewise, medishield-life basic and all its other permutations are like NATIONAL SERVICE , non-negotiable even if later u wan to drop Singapore citizenship, serve first, talk later... Ditto medishield-life, u can choose to claim private, foreign or company health insurance cover but U still have to pay medishield-life basic premiums because it is a form of National Service and deserters whether AWOL from medishield-life or National Service all have to serve time in PRISON.

Thus, whilst the current case is that of the tail wagging the dog, where MOH is behaving like the Public Relations manager of the Singapore Private Health Insurance Business Federation, there are actually genuinely important reasons why private riders are INCOMPATIBLE with the original design and purpose of medishield-life to begin (and should NEVER have been allowed to be sold beginning since 1994).
Normally, two wrongs do not make one right, but in this case it does. As egged on by insurers, MOH is now making amends for the mistake it made in 1994, to allow private insurers to begin to sell medishield-life with the option of adding on riders. This 'rider business' has all along been INCOMPATIBLE with medishield-life being designed to insure ONLY against high medical bills, however the flaw of the 1994 decision has only with audit come to recently to light, that claims by rich Singaporeans (using riders) were 2.04 times that by middle class Singaporeans (with none/partial riders) meaning that ironically , poor were subsidising the rich which is antithetical to Singapore's status as an egalitarian nation state.

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Old 20th June 2018, 06:48 PM   #3 (permalink)
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Originally Posted by Chromesthlesia(HWZ)
Erm, I kind of think it is a chicken and eggs problem though. Poorer people try to claim as minimally as possible because they can't afford the ip riders premiums.

But rich people claim frequently since their rider covers 100%, even with the new inclusions of 5% co-insurances.

My point is: even if you changed the premiums revision, which is a good thing, you can't exactly solve the bigger underlying problem which motivates a rich/poor person's claims;

Poverty.
Which is why all these stupid tag-on integrated shield plans should either be scrapped (dissociate themselves from basic medishield-life) or else MUST conform to the basic principles that enshrine medishield-life: universally enforced deductible and co-payment % amount, pro-rated for hospital type and class: same philosophy as for NATIONAL SERVICE : 2yrs at 18yrs age to be served without delay regardless if person wants to later change citizenship or if family is influential/ rich because its a national security issue.

If the individual wants to have other alternative private insurance plans, he can have whatever he wants from anywhere in the world; however, he must first pay his dues to basic medishield-life and thereafter buy whatever he wants. Just as for NS all have to serve when called to do so and all defaulters are immediately sent to jail.

Technically PAP planned medishield-life it this way (it is self-explainatory by its design), however in between, they chose the populist path, wanted to please the rich and also profit the insurance companies ... this time bomb could be hidden by the then youthful and healthy population, juvenile(inexpensive) medical technology and facile audits of medishield-life claims since riders were sold starting 1994... ends up, with today's high costs medicine and aging population, the cat is now out of the bag with evidence that the system is broken with the poor having to subsidise the healthcare costs of the rich- which is a grave injustice and the antithesis of a modern egalitarian cosmopolitan society.


Last edited by BicCherry; 20th June 2018 at 08:16 PM.
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Old 5th September 2018, 06:14 AM   #4 (permalink)
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