Biggest problem with Medishield Life

The other day, I wrote about the problem with lack of transparency of CPF Life, first and foremost, that “CPF Life” needs to be separated as an independent entity with its annual financial statements and audits! 

The same also applies to Medishield Life! 

Medishield Life needs to be separated as an independent entity with its annual financial statements and audits as well! 

Next, there needs to be transparency of how premiums for Medishield Life are derived and calculated.  Only when “Medishield Life” is a separate entity with its financial statements will we know whether accumulated over the years, are managers of Medishield Life recommending Medishield Life premiums that is much above optimal amount and a lots of profits have been accumulated, thus that should allow Medishield Life premiums to be reduced!  Without a separate book (i.e. financial statements), Medishield Life in its current form which is not detached from CPF Board means that when there are profits accumulated, it belongs to CPF Board (and hence the Government)? And when Medishield Life premiums are adjusted higher in future (just a matter of time I suppose?), then we will know is it because of trying to accumulate more profits or really the existing Medishield premiums are too low and hence not sustainable?  Empty words are just useless!  Actions speak louder than words!  By continually refusing to separate Medishield Life into a separate entity with its financial statements and cashflows and publish them annually etc, you can't fault people from starting to speculate and believe that they are trying to make profits out of the Medishield Life scheme isn’t it? 

Transparency, transparency, transparency!  We really need transparency and separate book (i.e. financial statements) for Medishield Life individually (and separate from the book of CPF Board)!!!!!!!!!!!!!!!!!!