MediShield Life helps more people

By: Leong Sze Hian

MediShield Life helps more people a year on

I refer to the article “MediShield Life helps more people a year on” (My Paper, Nov 1). It states:

“One year after Singapore introduced MediShield Life – a universal insurance scheme, more people are getting help with their medical bills. Nearly 400,000 claims were made between last November and September this year. A total of $614.3 million was paid out.

Of this, $102.5 million went to people who were previously uninsured, a Ministry of Health (MOH) spokesman told The Straits Times. Over the same period in the previous year, $307.5 million was disbursed for 291,500 claims.

There is a trade-off. Premiums rose, mounting to $1,736 million in the 11 months from its launch – compared with $685.7 million in the same period the previous year. Almost half was paid by the Government, largely as premium subsidies.”

So, does it mean that the claims to premiums ratio over the same period in the previous year was 44.8 per cent ($307.5 million claims divided by $685.7 million premiums)?

70.8% claims to premiums ratio from its launch?

And the claims to premiums ratio in the 11 months from its launch was 70.8 per cent ($614.3 million claims divided by $868 million premiums ($1,736 million x 0.5 as half “was paid by the Government, largely as premium subsidies”))?

“Premiums not disbursed will be invested in the Special Singapore Government Securities as this has stable, long-term stability, said Fang Ai Lian, who chairs the MediShield Life Council.”