- Joined
- Dec 30, 2010
- Messages
- 12,730
- Points
- 113
MediShield
I asked Health Minister Gan Kim Yong for a breakdown of MediShield Basic premiums and claims over the past 10 years. His answer revealed that in each year since 2001, there have been much more premiums collected than claims paid out for this national health insurance scheme. Between 2005 and 2010, $2.11 billion in premiums were collected and $1.26 billion in claims were paid out. Yet the minister emphasised that MediShield operates on a not-for-profit basis and that premiums are actuarially calculated to cover all liabilities for current and future years
- http://geraldgiam.sg/2011/11/parliamentary-questions-rental-housing-and-mrt-overcrowding/
I asked Health Minister Gan Kim Yong for a breakdown of MediShield Basic premiums and claims over the past 10 years. His answer revealed that in each year since 2001, there have been much more premiums collected than claims paid out for this national health insurance scheme. Between 2005 and 2010, $2.11 billion in premiums were collected and $1.26 billion in claims were paid out. Yet the minister emphasised that MediShield operates on a not-for-profit basis and that premiums are actuarially calculated to cover all liabilities for current and future years
- http://geraldgiam.sg/2011/11/parliamentary-questions-rental-housing-and-mrt-overcrowding/
) for his bypass is that they were losing money paying out until they opt to let private insurer take over. at the end of the day, it's still money over welfare. so much for pappies! imagine if you have to be hospitalised, you still need to worry on how much you need to cover the balance of your bill. that's why i decided to opt out medishield and go entirely on private insurer and if *touch wood* i need to be hospitalised, i can be assured i will stay in mount E and have the best doctors to treat me. 
