1Care could create RM50bn cash cow

With income from health insurance contributions, government funding via general taxation, and ‘co-payments’, the proposed 1Care financing model would create a huge health care financing fund.

The ‘social health insurance’ contributions would come from the employees, employers and the government.

The government’s contribution from general taxation would cover the poor (who have registered), the disabled, senior citizen (60 years and above), pensioners and civil servants (with up to five dependants).

The government would also increase its spending to closer to 3 per cent of GDP. (Why can’t it just increase its spending now to close to 6 per cent of GDP, which is the global average – and forget about 1Care and put a stop to more private hospitals?)

Then, there are the “minimal” co-payments for a “standard benefits package”.

Some estimate that the fund could have RM50bn in the kitty, which would probably make it the second largest piggy bank in the country after the EPF.

And you know what that could mean, don’t you? The corporate and crony vultures (think fund managers and administrators, pharmaceutical companies, other vendors, contractors and developers) would be likely to be circling around this (cash) cow to feast on it when no one is looking.

Tak nak 1Care!

- anilnetto