Did anyone see today’s Sunday Times about a father whose Medisave of $30,000 was wiped out when his daughter was diagnose with ovarian cancer? I really pity the family. The family admitted that they should have bought medical insurance. I calculated, that with $30,000 the interest generated a year is 4% x 30000 = $1,200. Based on an annual premium of $144.14 of an as-charged medical insurance for private hospital, that interest can pay for 1200/144.14 = 8 children !
The original Sunday Times article can be view here: 40 years of his Medisave wiped out in 3 months
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