Hi Mr Tan,
I wish you can read the newspaper article on Sunday Times on 4 November, about a person who lost 40 years of hard earned Medisave funds, just because he wants to save on the premium on a private Shield plan.
REPLY
For every person in this unfortunate situation, there must be many thousands of people who paid a lot more in insurance premium for unnecessary coverage.
Many people do not have sufficient savings for the future, because they spent too much on unnecessary coverage during their younger days, due to poor advice given to them by people with vested interest.
If you are insured under Medishield, you should go to a subsidised ward, where the cost is capped. There is no need to go to an expensive ward or private hospital and incur unnecessary medical cost.
In the case mentioned above, I was told that this person did not have any coverage, not even Medishield. If he had bought Medishield, he would not have to wipe out 40 years of Medisave savings. He only needs to pay the Deductible and Co-insurance.
Hi --
ReplyDeleteFor that particular Nov 4 Sunday Times article, it wasn't a case of private Shield vs. Medishield.
The man had no medical insurance for his son.
What would the parents' costs have been had the boy been covered under Medishield vs. a private shield plan.
That is the relevant comparison.
Sincerely,
Larry Haverkamp
Hi Mr Tan,
ReplyDeleteWould there be a situation where a patient has no choice but to seek treatment from a private hospital? For instance, that doctor or surgeon only practices in a private hospital.
starlight
If you are rich, or you are well insured under a "as charge" plan, you can go to a private hospital and choose your own doctor.
ReplyDeleteMost people do not need to be treated in a private hospital. Our restructured hospital have the facility and competent doctors, including specialists.
It is very unlikely that your need to be treated by a specially selected doctor.
The exception is when you have a heart condition and you are treated by a private cardiologist. I am not sure what is the best approach in this situation.
I wonder if the man has bought any insurance on his own life. Wonder he has been properly advised about what insurance can do for him and his family. If he has , surely the insurance agent would have told him about the need to cover his family as well and at least with affordable insurance which might not be from a private company. This is the problem when commission is involved. If there is nothing that the agents can gain from they usually would not suggest
ReplyDeletealternatives.