Means testing criteria loophole. PAP government Squandering >$1224 p.a. on CHAS holders? (Up to >$2000/pax p.a.).

[bic_cherry]

Means testing loophole. PAP government Squandering >$1224 p.a. on CHAS holders? (Up to >$2000/pax p.a.).

Pioneer don't need means testing and some very rich people staying in big bungalows just have to declare a tiny income to qualify for CHAS subsidies as the case may be.

And government is gonna INCREASE GST to pay for the healthcare costs of these rich people???!!!

https://www.chas.sg/content.aspx?id=636

Why can't asset rich Singaporeans just reverse mortgage their properties to raise $$$ for healthcare costs; after all, the younger generation are already burdened with the high costs of property in Singapore as a consequence of property value gains from the surge in property prices since Singapore gained independence.

Why should the younger generation have to pay higher GST to subsidise asset rich Singaporeans/ retirees healthcare costs?

There is already no inheritance tax in Singapore (to help make the rich families richer), now the poor also have to pay increased GST to subsidise rich people's healthcare costs???!!!.

PS: Rich people staying in private property/ bungalows who earn lots of $$$ from capital gains from property trading, SGX stocks, foreign properties etc can always selectively declare these income sources and obtain the blue CHAS medical coverage card for themselves as they won't be means tested at all under the annual value of residence category. Pioneer generation don't even have to be means tested as they qualify for the highest subsidies instantly.

$1224 is calculated as 24*$28.50 for acute illness GP visits (total= $684) and $540 for up to 4 GP chronic complex condition visits.

The rest of the (unlimited) subsidy is in the form of dental treatment subsidies which can be up to $266.50 subsidy per dental procedure.

This loophole is created despite PAP/ Lee Hsien Loong knowledge that government finances will be in shortfall from healthcare costs and that GST needs to be raised to compensate for this shortfall:
"In the medium term, Singapore will have to find new ways to fund healthcare spending." (ST, 24.3.2019)

https://www.straitstimes.com/singap...ealthcare-sustainable-says-pm-lee-hsien-loong

 

[bic_cherry]

They are key vote bank. Otherwise why they coming with the nonsense of giving welfare to the so-called asset rich cash poor when they can bloody sell their landed and downgrade to get cash for retirement? :s8:

Either many PAP cronies own lots of property or PAP is trying too hard by half to prop up property prices by not encouraging elderly people to reverse mortgage.

Singaporeans have so many banking options and surely banks are willing to progressively extend up to 60% loans on property value for elderly to use as pocket money so long as property prices in Singapore are stable and loan limits imposed to prevent sub prime mortgage crisis/ paradoxical property price increase instead.

This would also reduce structural unemployment amongst younger Singaporeans because property prices will then be lowered with more private properties available for sale to repay mortgage after death of the elderly owner. With less hording of properties for investment, younger people don't have to work so hard doing the same job with no time to explore other occupational options (e.g. professional conversion) until they fall sick from stress or are retrenched and then it's too late.

Something tells me that this PAP artificially propping up of property prices is not going to end happy in so far as it increases inequality and social tensions which can well explode suddenly/ go out of control.

And increase in GST is only going to worsen the social tensions of which racial discord, terrorist activity are possible outcome options.

 

[knowwhatyouwantinlife]

Are u saying the merdeka package should be tiered according to what property one lives in so that the rich can self fund more and more excess can be trickled down to the poor? Haha votes come from where?

 

[winnipegjets]

They cap subsidy, instead of capping payment. Damn PAP!!!!

 

[laksaboy]

You see... the PAP govt has mastered the art of telling half-truths.

Certainly, you need to increase revenue to subsidize all that CHAS claims. But what CHAS does is provide a pretext to increase taxation for collecting revenue over and beyond what is necessary for the subsidies.

 

[Soul]

Is it true that when u use CHAS card, your medication is lousier?

 

[knowwhatyouwantinlife]

Louiser is not an objective word..alternatives or generic is the more objective word