When Medishield Life kicks in, a family of four with the parents in their mid or late thirties will be paying around or more than S$1000 annually in just Medishield premiums, much higher if they have opted for IP plans. This is fine - after all the government is giving additional coverage and risk pooling the entire population. As long as you are in Singapore, you will be the beneficiary of the cover if and when you are hospitalized.
However, why should Singaporeans and PRs living overseas have to pay these premiums? What benefit do they get when they are hospitalized in the country they are living and working in. They, after all, will have to take a local health cover wherever they are residing. Medishield Life, too, is a local health insurance policy applicable only within the boundaries of Singapore. A better policy would be that these citizens and PRs be charged the annual premiums only when they move back to Singapore and that is when they would benefit from the coverage .
When I enquired about it, I was informed that Singaporeans can make use of the cover if they return to Singapore for some treatment (doesn't quite sound a convincing response to me!). Even if this reasoning were accepted, what reason would a first generation citizen or PR have to come to Singapore for treatment? Such a person will have no base in Singapore if he is working overseas. No parents, no relatives as a support mechanism while he is getting treated. Will his family also relocate for his treatment and set up camp in a hotel during the whole period (the assumption being a short term period)? I feel the policy makers should give this due consideration when Medhishield Life kicks in at the end of the year. After all, the population nos we are talking about is quite a small percentage (only 212,200 overseas Singaporeans as of last year) of the population base. But for them, the premiums would be an additional (and possibly substantial) burden on their finances with no apparent benefit.
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