Lee ‘Hsiao’ Loong’s mad plan to medisuck your funds dryMessage 1 of 1 , Aug 20View Source
In my last post, I mentioned the pointlessness of having medical insurance beyond the age of 90 - PM Lee’s croco tears at NDP Rally Speech 2013 and the mad medisave plan. In this article, we will take a look at how it is the insurance companies who will be laughing all the way to the bank because everyone will be included in the scheme. But the question remains, will the individual Singaporean benefit?
Lee Hsien Loong. With a firm hand, he forces everyone, insurable or uninsurable and below 90 or above 90, to be on a new compulsory medisave scheme, which will be called the Medishield Life. Whether it would benefit everyone is yet to be seen. What we can be sure is that the insurance companies will be very happy to have unsolicited customers being forced to pay them premiums. No marketing costs to have this avalanche of new clients!
Forced on you, like it or not -
Here is the forced medishield plan. PAP doesn’t care if you want it or not, or like it or not - Premiums for MediShield Life to be kept affordable
The impact of higher MediShield premiums will be studied carefully to ensure that every Singaporean can afford them, said Health Minister Gan Kim Yong yesterday.
Hey, that’s what they’ve been saying about HDB flats for decades. But there are still many who can’t afford. The PAPpy guys think they can play the same lying tune over and over.
But one thing will not change – Singaporeans will continue paying part of the bill to maintain “discipline”, he said, even as he seeks the public’s views on this “very significant shift” in the national health insurance system.
Note that the same audacious and arrogant “I know you better than you know yourself” attitude PAP is holding against its citizens. Yeah, they are doing it for us, not for them to get more money from of us. Right, suuure!
Currently, those 20 and below pay as little as $50 in premiums every year. But rates climb to as high as $1,190 for an 86-year-old.
Again, that’s the PAPpy style. Give you some arbitrary figure to scare you initially, so that you would be softened up to accept it when the time comes. Just like the arbitrary 6.9 million population figure given.
It will also be important to hear what members of the public have to say on the kinds of hospital costs they want MediShield Life to cover.
Once again, note the very presumptuous PAPpy guys. They assume “everyone wants” the scheme, making the only difference to be “what type of scheme”. It never occurred to them that there are those who do not wish to have the scheme at all, either due to pre-existing illnesses which would make the policy very unattractive due to loading, or simply due to lack of affordability and lack of funds.
How insurance companies offset high risk policyholders -
It is known among many that insurance premiums will increase when the insurance companies accept more high risk policies. Those who are aged over 90 and those with pre-existing illnesses will definitely cause an overall increase in insurance costs due to higher risk. To offset this higher risk, a higher premium is set.
A person with a pre-existing condition will be considered a higher than normal risk. As such, the insurer will “load” the policy either with a higher premium or with exclusions, or a combination of both. On the part of the to be insured, he will have to decide if the final premium he pays is worth the less than favourable benefits he would receive compared to an unloaded case.
Hence if he feels that is OK, he willingly takes up the contract with his eyes opened. If he is not OK with the terms, he rejects and finds another insurer who may be willing to undertake his risk. This is fair play and fair terms for both the insurer and the insured. Both see the modified policy as amicable terms and both end up happy.
How the Lee Hsiao Loong Medisuck Plan allows the insurance companies to steal your money -
Now comes the silly Lee Hsiao (“siao” is mad for Hokkien) Loong Medisuck Plan. Everyone above is FORCED to be in the plan. Even those with pre-existing illnesses. While that sounds fantastic to the ignorant, those familiar with insurance practices will know that would mean the policy would be loaded, either with a higher premium or with exclusions, or a combination of both. Due to loading, this high risk guy will now be FORCED to accept the very unfavourable terms which he may not want in the first place. This guy may well think that the premiums or exclusion is such that it is not worth for him to accept the policy. Yet, he is FORCED to accept the unfavourable terms.
Imagine at 70, a person with a record of high blood pressure, he is are forced into this Lee Hsiao Loong Medisuck Plan. Imagine the Medisuck Plan has a clause that EXCLUDES the payment of hospital bills for illnesses that arise from his high blood pressure.
Heck, about anything sickness can be argued to be related to high blood pressure. Stroke, heart disease, kidney failure, diabetes. And a whole host of others. That means that if this person is warded for any of the above, the insurer will be able to argue it need not pay a cent. Hellooo? Why then should this person be forced to pay premiums, and a loaded insurance policy too, for all the previous years prior to his hospitalization?
Isn’t the Lee Hsiao Loong Mad Medisuck Plan really mad?
Insurer underwrites the risk, but who regulates the underwriter? -
Some will argue that the insurer has a guideline on what and how to load cases. But the insurance company’s bottom line is still profits. So come what may, the loaded policy will always be underwritten in favour of the company and not towards the policy holder. Who is to regulate this unfair advantage the company holds?
Secondly, the right on the part of the customer to reject the unfavourable terms of the policy is no longer there. The Lee Hsiao Loong Mad Medisuck plan mandates that it is compulsory for you to be under the scheme, like it or not, favourable to you or not.
In short, there is no fair play. It is all about more money for the insurer and more frustration for the layman.
Medisuck Plan another con job -
The Medisuck Plan is designed for the govt to hold onto your money. With insurance premiums expecting to shoot up, the gahmen will justify why it needs to increase the capped amount needed to be in your medisave – only for it to go into insurance premiums. You will never get to see your hard earned money.
This is no different from the same govt that keeps allowing HDB prices to increase, so that all your hard earned money in your Ordinary Account of the CPF will be paid for the flat. Likewise, all your hard earned money in your Medisave Account will now go to pay medical insurance premiums.
So with the various schemes and the ever increasing minimum sum that the govt expects you to have in your CPF, purportedly to help you in your retirement age, all your hard earned money will be given back to the govt and their complicit partners. Doesn’t that sound like a con job now?
Quick last few words and conclusion -
On the surface, the latest Medisave plan suggested at the NDP 2013 Rally sounds good. But in reality, it is a well designed con job. While PM Lee may not be very familiar with the details how insurance companies calculate their costs, surely he would have had advisors telling him what to do. Surely these advisors would have known the very unfavourable terms that would be thrusted upon those with pre-existing conditions, as well as unto the general public.
Are these advisors sleeping on the job? Or are they complicit with the big insurance companies, as with many agencies of the govt, in trying to bleed as much money from you, so there would be enough money to fund their fat salaries?
* The writer blogs at http://wherebearsroamfree.blogspot.com-->>>>>>>>>> TO HELP ME, COMPLETE THESE STATEMENTS, THANKS: http://roberthorequestforstatements.blogspot.com/My wife, an accountant, then a manager in an MNC drawing a 5-figure salary before she retired, can confirm that I write the Truth in all these. <<<<<<<<<<RH: LKY LHL WKS ELECTION RIGGINGS EMAILED TO ALMOST ENTIRE GOVT:
ME ON VIDEO DESCRIBING lky lhl wks NUMEROUS ELECTION RIGGINGS + PoBoB and CCTV Ideas:
MY ACQUAINTANCE, MR DAVID DUCLOS, A FORMER POLICE INSPECTOR, AND HIS LAWYER FRIEND, EYEWITNESSED LEE KUAN YEW RIGGING THE 1997 CHENG SAN GRC ELECTION. READ MORE AT MY BLOG ENTITLED "I CAME, I SAW, I SOLVED IT" :http://i-came-i-saw-i-solved-it.blogspot.com/
MY ONLINE POLICE REPORT ON LKY LHL WKS CHEATING ELECTIONS:
a. MY SWORN AFFIDAVIT OF 16 JULY 2010:
http://i-came-i-saw-i-solved-it.blogspot.com/2010/07/my-sworn-affidavit-of-16-july-2010.htmlb. SWORN EXHIBIT IN SUPPORT OF AFFIDAVIT:c. SOME LEGAL PRINCIPLES ON WHICH I GROUND MY CASE:d. THE PATTERN OF CRIMINAL WRONGDOINGS THAT PROVES MY CASE;e. 3rd EMAIL TO UK PM FOR OBSTRUCTING, PERVERTING JUSTICE:LEE Kuan Yew, LEE Hsien Loong, Tony TAN, HO Ching corruptions and theft of billions:
"POWERFUL POLITICIANS WHO CANNOT CREATE, INVENT, SOLVE PROBLEMS AND CHANGE THE WORLD CAN ONLY TAKE SATISFACTION BLOCKING, DEGRADING, THOSE WHO CAN."