Well, we are rich. But really the state can only do so much.
Ultimately, ur health, ur body and stuff abt urself... Its still the best way to sniff out the best insurance tailormade to suit urself and ur budget.
Kinda like a... the choice between getting a tailored suit vs one that's mass produced (hit & miss affair).
The State can do much more, they are unwilling to do so. They rather invest in other countries via JV industrial park, overseas propereties etc, than the health of its citizens.
The State want to outsource its medical liabilities to pte insurance, that is why we now buy medishield and eldershield from insurance companies instead of cpf, because the States want us to believe that pte insurance companies will cover us more. Why can pte insurance companies cover us more, because the State wants us to believe that the pte insurance companies can invest our money better, and get the return better than the State own investment arm.
Hospitals have privatised, they got less subsidies from the State, consultation fee went up after GST increase, and no reason was given, Anti-profiteering committee also have no say, cos it is "up to market forces."
The State want to let the market forces determine the up and downs of medical costs. Medicine cost 2x as much compared to Malaysia,why? because of market forces, supply and demand, the drug companies and hospitals are exploiting us, Vitamins and supplements cost much cheaper in USA than in Singapore. When the medical costs go up, the cost of medical insurance will go up, and the consumer will pay more. We dont have a choice, because of "market forces".
It is very difficult to get help from social worker, they will look at the financial status of the WHOLE family, if you son/daughther is working and have HDB flats, they expect your son/daughters to help you first, before the State help you. The state will not care the financial obligations of your son/daugters, eg children's education, mortgages.
Morale of story: Buy term insurance when you are young and cost is low. Dont wait.
Cover more than 250K if you have history of family crtical illness. One of my family members spent 100K (not kidding) for a critical illness, we have to get the MP to have his company cover his medical expense. If there is a relapse, we will face with financial difficulties, though we are better off than a lot of Singaporeans, all the family members will be real broke if we want to cover another 100K of medical expenses, we have to sell our flat away.
The heartlander saying is true, "Puah Beh Dio Ai Si", if you are sick, makre sure you die.
I think if you are sick, make sure your family is really poor, so that you will get aid easily.
If you are middle income, neither rich or poor, it will be a hard time.