I don't remember precisely at this point but it is something between 2 to 7k (SGD) dependent on your age, where the range is here for the age up to 50s (older, gets of course more expensive). The good thing about it is that if you are relatively healthy (like myself, knock-knock unpainted wood), you may chose to pay premium where the first XXX is not covered so you need to pay it by yourself, but then the premium is also much reduced. Say (made up example), premium is 7k, I chose first 5k not covered, premium to be paid 2.5k. With this approach, if something gets wrong (and only then), you lose this $500. If you become chronically ill or have longer-term regular expenses, you just chose at the renewal to pay the whole 7k premium.earthfriendly wrote:May I ask how much is your premium? Just doing hypothetical math here. If a person pays $800 (I have no idea what is the average, just hypothetical) yearly premium and runs up a bill for $5500. That would take about 8 years to even come close to breakeven. This is over simplistic but you get where I am going.
We are now on high deductible plan. Although, I think we are entitled to a free annual checkup/wellness visit (which actually helps to keep cost down if issues are caught earlier and it encourages prevention). Deductible for a our family of four is USD5,000 (or maybe 6K???). Insurance will not kick in unless we have expended this $5k ourselves. Many companies are going this route. Just so they can still afford to offer health insurance to its employees. And I will only foresee the deductible to go up, and not down.
I see this as the way to go. High deductible actually encourages people to be more judicious about using the system. Be sensible about it so there is more to spread around for more people to enjoy.
Well, what it really does is encourage pulling forward the date when PRs (mostly) and citizens (a few) who were already planning to "disconnect" actually disconnect. Yes, of course the government designed MediShield Life primarily for its medical insurance characteristics. But the revenue raising part of it does introduce a "membership fee" to remain a part of Singapore civil society as a citizen or PR, even when living overseas. That then will have certain side effects, at the margins.x9200 wrote:I think the No of people that would be here chased away is insignificant....
I will definitely add that request to my renunciation letter.PNGMK wrote:Remember you should get a refund pro rata for your "unused" premium if you cancel PR part way through the year.
Nah, JR8 has been left miles behindearthfriendly wrote:JR8 in the making . I will sieve thru this tomorrow. I really got to do some zzzzzzzzzzzzzz..... My hubby is waiting or shall I say, pining .
I have a suggestion for you to stay away from any form of advertising on this board, both in the open forum and via PM.chrisalves wrote:Ping me if you guys need any help and suggestions
The company has continued to lose money this year, even after increasing rates by an average of 29.7 percent.
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