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MediShield premiums could rise, Health Minister says


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MediShield premiums could rise, Health Minister says

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Updated 02:29 PM Mar 07, 2012

SINGAPORE - Health Minister Gan Kim Yong said MediShield premiums are due for an increase soon.

Mr Gan, speaking in Parliament at the Committee of Supply debates today, said the premiums "need to be adequate to sustain MediShield members' claims and to fund future liabilities under the scheme".

"As MediShield premiums are set to be sustainable for a five-year period and the last increase was in 2008, we are due for the next update soons," said Mr Gan, noting that MediShield has paid out 21 per cent more in claims each year between 2008 and last year, during which time the premiums collected grew by only 10 per cent a year.

"Ultimately, MediShield operates on a not-for-profit basis, with premiums actuarially calculated to cover expected payouts and meet risk and reserve requirements. The reserves ensure that MediShield will be able to honour policyholders' future claims."

He said a 45-year-old may see a premium increase of S$7 per month, with younger age groups seeing a smaller increase, while a 75-year-old could see an increase of S$25 per month.

To offset these increases, a one-time Medisave top-up of up to S$33 per month was announced in the recent Budget for all Singaporean policyholders to help cushion the impact of the increase.

In addition, older policy holders who are beyond the re-employment age of 65 will receive direct and long-term assistance via Medisave top-ups under the GST voucher scheme, up to S$37.50 per month which can offset the premium increase in full. CHANNEL NEWSASIA

URL http://www.todayonline.com/Hotnews/EDC1203...h-Minister-says

Copyright 2012 MediaCorp Pte Ltd | All Rights Reserved

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KNN playing with numbers again???

 

 

"MediShield has paid out 21 per cent more in claims each year between 2008 and last year, during which time the premiums collected grew by only 10 per cent a year."

 

this 21% correlate to how much in actual sum???

 

the 10% growth correlate to how much in actual sum???

 

DUN TALK C0CK!

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stupid health minister... just allow bagala and ah tiong doctor in and health care cost will drop liao loh.

those rich people can go private specialist and tat will still keep our existing medical folk employed.

 

come think of it witch doctor also can lah especially for those terminal cancer patient. [laugh]

 

 

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Neutral Newbie

stupid health minister... just allow bagala and ah tiong doctor in and health care cost will drop liao loh.

those rich people can go private specialist and tat will still keep our existing medical folk employed.

 

come think of it witch doctor also can lah especially for those terminal cancer patient. [laugh]

Actually, I think healthy lifestyles is the better way to save up on healthcare costs.

 

SG govt doesn't seem to care/ reward Singaporean's for being healthy, just harp on their 3Ms framework, what wonders it can do etc etc.

But guess when Medisave (MS) get too $$$ and ppl use medifund... then revenues will have to go up as Minister Tharman has just warned in 'New ways to raise revenue needed, says DPM Tharman': "Beyond 2016, the Government will have to find new sources of revenues, including tax revenues." [TDY, 02Mar2012][pict]

 

Perhaps MS should encourage its members to take care of their own health by rewarding the healthy with lower premiums etc.

 

And certainly, MS should have no business sponsoring perverse lifestyles such as:

Woman aspires to be the world's fattest female [Tue, Mar 16, 2010; The Daily Chilli]

20100316.170104_dailychilli_fattestwoman3.jpg

- maybe MS should have an appropriate obesity premium for members like her!

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We are probably the only developed country paying a chunk of our monthly salaries and NO safety net of insurance when we fall sick.

 

Gov rather bleed you dry first.

 

Miser gov, miser people. Sad.

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Actually, I think healthy lifestyles is the better way to save up on healthcare costs.

 

SG govt doesn't seem to care/ reward Singaporean's for being healthy, just harp on their 3Ms framework, what wonders it can do etc etc.

Got meh, every year go back in camp training & IPPT test every year. Fail, got free training for you. Where got not concern about our fitness. [:p]

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(edited)

Got meh, every year go back in camp training & IPPT test every year. Fail, got free training for you. Where got not concern about our fitness. [:p]

I mean discount fr the continually increasing MShield premiums, not punitive action like forcing U to train which might be stressful for some: e.g. if they have families etc. Also, some might NSmen do keng to downgrade and so escape from IPPT/RT; and NS is for limited time only.

 

Perhaps much more needs to be done then just raising GST and pouring in $$$.

 

As prev mentioned, the worst thing tt can happen is if people leave MShield bc its too costly and then depend on medifund... then U really have to pay more in GST/ tax (until y'r nose bleeds maybe) just to fund medifund claims (which is what Minister Tharman just said).

 

 

The right heart ware needs to be in place than just empty talk only I guess.

 

first-class-tpt.jpg

pc_600x450.jpg[source]

 

Rgds

B.C.

Edited by Bic_cherry
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But guess when Medisave (MS) get too $$$ and ppl use medifund... then revenues will have to go up as Minister Tharman has just warned in 'New ways to raise revenue needed, says DPM Tharman': "Beyond 2016, the Government will have to find new sources of revenues, including tax revenues." [TDY, 02Mar2012][pict]

 

theres only so many land parcels to sell here.. ^_^

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MediShield Life to offer S'poreans more coverage and benefits next year under proposed changes; premiums may rise by up to 35%

https://www.straitstimes.com/singapore/health/medishield-life-to-offer-sporeans-more-coverage-and-benefits-next-year-under?fbclid=IwAR3BhlfC3L97uLSjPPv4sZSGpZUTYPF8KACrt_-9G7ZEhh5Trc0MkAFfOS4

Edited by Fcw75
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They really have to revamp the healthcare in Singapore. It is getting more and more expensive and now they are forcing EVERYONE to pay more and upping the claim limits. 

What are they doing to review the healthcare costs? What the people really want is to keep the cost down.

I went to Taiwan hospital in one of my vacation, it looks really run down but it was only SGD90 for an xray and injection for food poisoning. $90... for a foreigner... I wonder how much it will cost in singapore

The docs in Taiwan dont get paid as much as singapore. We really need to start training more doctors and tracking outcomes

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