Monday, September 19, 2011

Are You Ready to Take Charge of Your Healthcare Costs?

I wrote about CPF's "Are You Ready" campaign recently and also did a quick check in my previous posting about "Are You Ready to Manage Your Cashflow".  Anyway, there is a contest also ongoing on the Are You Ready site and there are MacBook Airs and shopping vouchers to be won just by sharing your stories.  So do visit the site here and share your stories.

Anyway, thought I will do a continuation of what I did in the previous post and check my own readiness in terms of taking charge of my healthcare costs.  I went through the list of questions in the checklist and here are my answers (as honest as can be):

I Make/Receive Monthly Medisave Contributions

Yes.  My CPF contributions go towards the Medisave Account.  Thus far, my Medisave account has only been used to pay a certain part of the hospital bills when my first child was born.  I guess this question is really aimed at those who are self-employed and who ought to make contributions to their medisave account.

I Am Aware of the Importance of Medisave, Medishield and Eldershield

Wow, this is a pretty tricky question.  I guess I generally know these 3 terms mean thought I must admit that there might be some inaccuracy in my understanding.  But here it goes:

Medisave - An account held under CPF that can be used to pay off hospital bills (if certain criteria are met).
Medishield - A basic hospitalisation insurance plan.
Eldershield - A severe disability insurance scheme.  Especially useful if you require long term care in the future. It provides a monthly cash payout and is available when you are of age 40.

And the importance of them all, I think I can say I know the importance of them all even though I am too young to be covered under Eldershield now.

I am Insured by Medishield and/or an Integrated Shield Plan

Yes, I upgraded my coverage to an Integrated Shield Plan offered by Aviva.  I have covered my entire family with it.

I Exercise At Least 3 Times A Week

Errrr.........Okay, no.  I hardly exercise at all these days.  Have been making too many excuses not to exercise and this is a timely reminder that I should really be exercising more.  Maybe for a start, I will try to exercise once a week?

I Keep A Balanced and Healthy Diet

Well, generally, I would like to think that I eat rather healthily.  At least I do not have any health problems.  But I certainly think I could eat healthier (i.e. more vegetables, more fruits and less meat).  I am certain that I have room for improvement in this department.  Interestingly, somebody once did a guest post on this blog regarding the linkage between financial health and obesity so you might want to check out the article.


So done.  I have checked off the checklist and I think that while I am financially prepared to take charge of my healthcare costs, there is definitely room for improvement in terms of keeping myself healthy (by exercising) as well as eating right.  A good and timely reminder indeed.

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