Do anyone understand this complex medishield life? What are we paying this $300-500 per year for?
how come not free, why must pay the deductible ($1500-$2000 for class C and B respectively) first?
Sounds like jin lugi leh.
From what I decipher from the booklet they had sent me, I read & read & reread to understand, is this what I understood. In the past, we contribute to medisave, which should be enough to cover our medical bills when we go to the HOSPITAL, then it was not enough, they introduced MEDISHIELD, which have a higher covering than Medi-save; then they farmed out MEDISHIELD to private insurers for even BETTER COVERAGE.
Now they have re-started MediShield ( right?), those of us, including me, will pay for our private medishield premiums which will be increased to factor in the additional component MEDISHIELD LIFE, that is, you pay the private insurer, a portion goes to them & a portion does to CPF. Those who does not have say, INCOME SHIELD pay, directs to CPF for MEDISHIELD LIFE.
But paying for two medical insurances as those like us with INCOME SHIELD...does it mean that, we do not have to pay any more, when we have to seek hospital stay??
The subsidy for the premiums is for 5 years fro, 2015, on a drawn down scale....that means, after 5 years, our private insurer plus CPF can RAISE PREMIUMS....& make it more AFFORDABLE for us all??