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4 replies to “The Woke Salaryman guide to Insurance (Explained as AVENGERS heroes)”
The healthcare inflation part is wrong. It’s not like it is growing 10% year after year. So it doesn’t multiply like composite interest. I think you will need to correct this misinformation, not try to spread FUD.
I hate to break it to you, but medical inflation does happen year on year. It does multiply like compound interest.
You might wanna have a read:
Ouch, the number might be exaggerated, but still it is unsustainable at this rate. Medical industry will need to innovate faster to provide a better efficacy. Insurance companies can only shield us so long for a couple more years until the entire system crumble down under its own weight. In fact insurance companies can do more harm by giving the guarantee that there is always a pool of money medical institution can milk from, hence hampering innovation for more affordable healthcare.
To reduce medical costs, we will need to start to look at practises like upfront cost quotations, transparent prices list, educating families about palliative care, legalising euthanasia, combating diabetes etc.
And remember to always ask for itemised bill. Even if you are insured just to avoid chance of bill getting inflated.
My view is that it makes sense to go for the government referral via polyclinic and seek treatment at the government hospitals. The cost will be lower.