Here in Welfarism the PAP way I gave an example (share of taxes paid) that the PAP did welfare: corporates get welfare, not the people
Here’s another: the new requirement that Integrated Shield Plans (IPs) with riders have a co-payment portion of at least 5%.
When the PAP introduced this welfare scheme for insurers, a minister talked about “buffet syndrome” of policyholders.
Well the insurers should have allowed to wallow in their own urine and shit.
The problem was self-created. The “free” riders were created to increase their profits, or so they tot. Now that it was not working for them, the PAPpies should not be riding to their rescue. They should simply stop marketing the products. And start increasing the premiums for existing holders to reflect previous pricing mistakes.
But to be fair to the corporate loving PAP govt: the change has not mandated any change for the 1.1m people who already have full riders for their Integrated Shield Plans (IPs) – which means they still will pay nothing for hospital bills.
But the freeloaders and scroungers that are the insurance industry will not stop lobbying for this to change. They had wanted the co-sharing to apply to the existing contract, or so Secret Squirrel and Morroco Mole tell me.
But the PAP govt didn’t want another public row what with its plans to raise GST after the next GE.
Thoughts of a Cynical Investor 
Perhaps the reason why they were priced the way they were priced was becos the insurers expect to be bailed out if it goes pear shape.
I’m told it will apply to existing customers in 2021/22.
No worries man. Premiums for “free” riders will go up 100% over the next 1 or 2 years. They’ve gone up by an average 20% per year for the last 5 years already.
Writing is on the wall that those holding “free” riders will be priced out eventually.
Already some of my friends with “more atas than free” riders are rushing to make full use of them … in just the last 2 weeks, couple of them went to see specialists in private hospitals/medical centres for symptoms & conditions that were more appropriate to be seen by GPs.
Or to request for discretionary full body checkups, colonoscopy etc that will be fully covered by their ultra-atas riders.