6 May 2012, 8.33AM
Bad Deal for Singaporeans in Health Insurance
A few years back when I decided to shop for a health insurance I was disgusted and appalled! Almost all the insurance companies, including NTUC Health Insurance, cover up to about 75 years of age!!! Thereafter, you are NOT covered! Other developed countries insurances cover for life - yes, until you die.
What that mean is the insurance companies take your premiums when you are healthy and abandon you when you needed cover! This is a RIP OFF!!! Because of this, I actually planned to go to Australia for retirement! No kidding.
Must our government invent everything from scratch? Can it not just go to Australia, UK, Europe, Canada & USA borrow their health policy books and learn from there? Ultimately, if we citizens do not have insurance cover, we will eventually end up at the government hospitals. Is this not costly for the government???
Thank you Prof. Tommy Koh. Now, I may have a chance to retire in Singapore.