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[quote="FaTa" pid='2850480' dateline='1527589960']
Based on non-compulsory Eldershield payout-collections ratio of 3.85% ($100mil-$2.6bil),
compulsory Careshield looks more to me like a scheme to amass more billion of funds with low payouts (few qualified claimants)...and higher premiums.
Get it?
:surprised
[/quote]
Historically (at least in 2009) Singapore insurance company owners/ share holders pocketed 18% as PROFIT in healthcare insurance premiums paid. The staff and management creamed another 36% for assortment of costs, not least staff salaries as well as generous staff welfare benefits such as a Porsche as lucky draw prize during company dinner and dance event (reference pict below); only 46% was earmarked / or actually paid out in insurance claims (see chart below).
Majority of Warren Buffett investment wealth is from investments in shares of insurance companies.
Besides being a means to INDEMNIFY gahmen coffers against increasing social welfare costs demands, insurance is thus a highly profitable business that the Singapore PAP gahmen cannot miss out on a profit opportunity from. Even if shareholder profits are ostensibly zero (they call it a 'non-profit'), such a national level insurance system will produce many high salary, low productivity jobs for PAP cronies, the vast majority of who will campaign for the PAP from within the civil service / PA and also the run up to General Election campaign activities.
https://dollarsandsense.sg/who-shou...tainable-increase-in-private-healthcare-cost/
Porche 718Boxster car as lucky draw prize during Prudential Insurance Company (SG) annual D&D.
https://forums.fuckwarezone.com.sg/...cy-last-can-sleep-well-night-5464743-364.htmlappleyum (HWZ) said:Prudential agent thanks all the kum gong friends, relative and strangers for sponsoring this luxury car for their dinner and dance.
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