- Joined
- Oct 30, 2014
- Messages
- 36,768
- Points
- 113
I am disappointed with the Ministry of Health's (MOH) response to Forum letters on the MediShield Life review (MediShield Life premiums will be kept affordable, Oct 7).
Instead of providing the yearly premiums collected and actual payouts for the last five years as I requested, readers were told to go search for the information on MOH's website.
It took me about half an hour to eventually fish out the information:
• Premiums collected from 2016 to last year: $7.578 billion
• Claims paid out from 2016 to last year: $3.533 billion
• Which means the actual payouts are 46.6 per cent of what was collected.
Based on the above, even though I understand that the scheme is meant as an insurance plan for the future, and taking inflation into account, how does the MediShield Life Council justify an expected increase in premiums of up to 35 per cent?
I am sure that, like me, many would want to know what MOH does with the reserves.
Phua Tiang Soon
https://www.straitstimes.com/opinion/forum/medishield-life-payouts-less-than-half-of-premiums-paid
Instead of providing the yearly premiums collected and actual payouts for the last five years as I requested, readers were told to go search for the information on MOH's website.
It took me about half an hour to eventually fish out the information:
• Premiums collected from 2016 to last year: $7.578 billion
• Claims paid out from 2016 to last year: $3.533 billion
• Which means the actual payouts are 46.6 per cent of what was collected.
Based on the above, even though I understand that the scheme is meant as an insurance plan for the future, and taking inflation into account, how does the MediShield Life Council justify an expected increase in premiums of up to 35 per cent?
I am sure that, like me, many would want to know what MOH does with the reserves.
Phua Tiang Soon
https://www.straitstimes.com/opinion/forum/medishield-life-payouts-less-than-half-of-premiums-paid
