Most people won’t understand our complex
healthcare system until they received their hefty medical bills. Many wouldn’t bother
to read the details or understand the system since their medical bills are paid
by their insurers. There is little or none out-of-pocket payment by cash. Why bother?
You see, this is exactly the biggest
problem. Most people don’t realize there are 2 “blood suckers” in our
healthcare system. One sucker is the escalating medical costs charged by
medical providers. They argue that today’s medical advancement and newer
treatment technology equate to higher fees. Sigh!
The other suckers are those health
insurers who sold you their “As-Charged” Integrated Plans (IP) to cover your
medical bills no matter how much medical providers charge you. You just
continue to pay the A-Plan or GOLD-Plan premiums. If you are worry about out-of-pocket
expenses, no worry, you can buy insurance “Riders” linked to you’re A or
GOLD-IP. You just need to pay more.
Insurers' motto to those insured: You want to
have maximum coverage and full protection? No problem, you just need to pay and
pay and pay more!
When our ‘Big Brother’ changed the healthcare
system in 2015 from MediShield to MediShield Life, my premium went up a lot because
‘Big Brother’ said: Better Protection. For All. For Life!
In reality, our ‘Big Brother’ wanted to
cover those already with health issues who were previously rejected by the
insurers. Now, the healthy people are paying more to cover/subsidise those who
need long term medical care. This year is the last year ‘Big Brother’ is giving
little help to subsidise the premium increase. From next year onwards, I’m going to
pay & pay the full increased premium year after year till I call it a day.
To add salt to the wound, every time I
reach a new age group, my premium would increase again. There is no such thing
as no-claim discount, unlike motor insurance.
So now you know, the 2 suckers are always in a win-win over those insured who keep losing more and more. Who is smarter?
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