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NO REGRET losing $270B but...
<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>MOH exploring MediShield cover for congenital illnesses
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->IN HIS letter last Friday, 'Work towards MediShield for all without exception', Mr Stanley Jeremiah urged that MediShield be extended to cover those with congenital illnesses. We are studying the proposal with our actuaries.
There are two ways to help these patients: through MediShield so the healthy cross-subsidise those with congenital conditions, and/or through government subsidies and Medifund whereby taxpayers help fund their bills. The former will require an increase in MediShield premiums, while the latter will raise the tax burden on all.
=> 3rd way is to for the the likes of GeeAyeC and Temasick to return the money back to the Peasants, right?
There are trade-offs to be made. For example, if MediShield premiums become too high, more people, especially the healthy, may opt out, and the MediShield risk pool will be compromised.
Mr Jeremiah asked about loss ratios and profitability of the MediShield scheme. This is public information. MediShield is non-profit-making.
However, this does not mean its annual premium collections must only just cover the claims that year, which is a short-term approach.
Unlike group health insurance, much of which is renewed annually, MediShield must build up sufficient reserves to fund future claims as it is a long-term health insurance policy. Most policyholders are likely to claim only in the future when they age.
Julie Sim (Ms)
Deputy Director (Media Relations),
Corporate Communications
Ministry of Health
<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>MOH exploring MediShield cover for congenital illnesses
</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->IN HIS letter last Friday, 'Work towards MediShield for all without exception', Mr Stanley Jeremiah urged that MediShield be extended to cover those with congenital illnesses. We are studying the proposal with our actuaries.
There are two ways to help these patients: through MediShield so the healthy cross-subsidise those with congenital conditions, and/or through government subsidies and Medifund whereby taxpayers help fund their bills. The former will require an increase in MediShield premiums, while the latter will raise the tax burden on all.
=> 3rd way is to for the the likes of GeeAyeC and Temasick to return the money back to the Peasants, right?
There are trade-offs to be made. For example, if MediShield premiums become too high, more people, especially the healthy, may opt out, and the MediShield risk pool will be compromised.
Mr Jeremiah asked about loss ratios and profitability of the MediShield scheme. This is public information. MediShield is non-profit-making.
However, this does not mean its annual premium collections must only just cover the claims that year, which is a short-term approach.
Unlike group health insurance, much of which is renewed annually, MediShield must build up sufficient reserves to fund future claims as it is a long-term health insurance policy. Most policyholders are likely to claim only in the future when they age.
Julie Sim (Ms)
Deputy Director (Media Relations),
Corporate Communications
Ministry of Health
