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The German Healthcare System

Jacques — Wed, 21 Apr 2010 01:00:29 +0000

Seventh in my series on National Healthcare System is the German Healthcare System.

It just went live on the Lighthouse website a few weeks back, and we got good feedback from our German clients. As with many universal insurance system, overall health care expenditures rose to more than 10% of GDP in recent years. German legislators are trying hard to contain costs, and with the ever-ageing German population, they will have to double their efforts in the future.

A little teaser to entice you to follow the here above link.
You will discover that the German system:

is very decentralized ;
is the oldest universal health care system in the World;
lets individuals choose among the statutory funds in their region;

Choice Is King – SodaPopStop

Jacques — Sat, 07 Nov 2009 13:00:42 +0000

I just came across this video and loved it. Its message is simple, and resonate strongly with me: the simplicity of choice and passion makes a business possible.

The reason it moves me is that this is what I’d like to achieve – i.e. find many trusted partners, each with their differences, so we can offer clients solutions which match their situation and expectations. A lofty goal indeed !

Revocable Nomination Option Available in Singapore

Jacques — Mon, 14 Sep 2009 01:00:46 +0000

With effect from 1 September 2009, the Singaporean Parliament amended the Insurance Act to provide a new framework for nominations of beneficiaries under an insurance policy. This mouthful of a sentence is an important piece of legislation for life policy holder as it will solve two serious problems.

Previously, when a policyholder denominated a spouse and/or childern as beneficiaries, a trust was automatically created in their favour. As a trust can only be amended with the approval of all the existing beneficiaries, this created difficult situations. Ex: a divorcee could not change the beneficiaries to his new wife without the consent of his ex-wife. Worse, the loss of benefits includes payout made for claims such as critical illness of total permanent disability.
The nominations were restricted to spouse and children.

The new system now offer you a choice between a trust nomination, and a revocable nomination. With the latter, you retain all of your living benefits, you can amend or revoke nominees as you see fit, and you can nominate non family members. The only drawback is that your benefits are not protected against bankruptcy as they are with a trust.

A good piece of legislation.

If you have a life policy but did not nominate beneficiaries, you should do so ASAP. Your family / beneficiaries will be able to receive the payout from the insurance faster and easier.

Obama’s speach on US Healthcare Reforms

Jacques — Fri, 11 Sep 2009 01:00:26 +0000

Obama rose up to the challenge and delivered a great speech to defend his agenda this morning. One that is at the same time a vibrant manifesto for healthcare reforms, an inspiration for his party to push forward, and a hand extended to the opposition. The mood was set very early on, thanks to powerful tag-lines such as “We came here to build a future.” and “The time for bickering is over. Now is the season for action.”

The American system is broken. It cost twice as much compared to other developed nations, and it does a poor job of treating its people. How can the flagship of democracy and development not have a decent universal health care system is beyond me. I truly hope Obama will be able to pass his reforms through. And the speech he just gave is a huge step in this direction. Finally.

Medicare Australia and Expatriates

Jacques — Thu, 10 Sep 2009 04:00:38 +0000

I recently did quite a bit of research on the Australian healthcare system and posted my findings on the Lighthouse website. The bottom line is that while the Medicare system does offer great cover to Australians in Australia, it is (1) quite complex, (2) heavily subsidised by the government, and (3) it does not cater to Australian expatriates living in Malaysia or elsewhere.

If you wish to read more – and you should if you are Australian, or are just curious about the Medicare Australia ! – you can check it here: Insurance for Australian expats