It was announced on 19 January 2015 that the government will be given the power to access people’s income without their consent so as to determine the level of subsidy for Medishield Life’s premiums. At the same time, similar power will be given to the government to access hospital records of all Singaporeans and Permanent Residents. This is because there will be a 30% premium loading for 10 years for Medishield Life for those who are currently not insured with Medishield and has pre-existing conditions. Thus, determination of health status is required for this group of people.
My comments:
The premiums for Medishield Life depend on:
- Your income level;
- Annual Value of your residence;
- Whether is there a premium loading ;
- Age; and
- Whether do you belong to the Pioneer Generation.
In view of the huge number of possible premiums, I wonder how is the current Private-Integrated Shield Plans going to be ‘integrated’ with Medishield Life.
For those who want to know everything about Medishield Life, feel free to download this report: MediShield Life full report.
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Too bad. But still lesser evil compared to giving full reins to private insurance companies in a pro-business legal regulation society. S’pore has been & always will be like this, until our human rights reach the same standards as US, UK, Canada, Oz. This will then impact on basic rights of individuals, employment rights, property rights, consumer protection, financial standards, fiduciary regulations, etc etc. They are all inter-related — you can’t have one without the others.