[sgbuffett]

It has to be raised because of inflation and medical cost has higher inflation than other things.

No other country used force savings to fund medical care costs....we should as why Singapore has such an unusual scheme a d whether it is good.


Why this is a bad idea.
1. If you want to put aside adequate sum, it has to be alot as you won't know what will hit you.

2. Because this is some is large, many will die of various causes that result in it being under uitilised if your death is fast and instant. Meaning unnecessary large amount of savings set aside...and alot of it is kept until person dies unused.

The better solution would be to create a pooled scheme so that we all share the risk:

1. Each person put aside a much smaller some so everyone can afford it. If you need tap from the pool.

2. You have more for use in retirement instead of parking a large sum aside for medical.

Above is like insurance scheme but insurance always result in surplus pools and kiasu safeguards  that leads to higher than necessary premiums.

Anyway not other developed country has anything similar to Medisave...it is a bad idea and locks away too much.