I would like to take this opportunity to expose the various
loopholes found in corporate insurance all along and hopefully
bring about some awareness in the general public.
Loophole
number 1
If you are a staff in an established local company or MNCs, most
likely you, your spouse and dependants (kids) are covered
by your company insurance. This means that employees are entitled
up to $1,600(just an example, actual coverage might varies) in
their outpatient medical claims per policy year, which includes GP,
Specialists visit etc.
The loopholes is that if you and your spouse are working in
different MNCs, both of you can claim for each other or your
kids at the same time! Especially true if the insurance
company is different. Simply submit a claim on your side and after
a month, call up the clinic again and informed them that you have
visit them last month and are now trying to make a claim but
you have lost the original receipt, they will give you one
"original" receipt in no time and let your husband claim this time!
The extra reimbursements will be your
performance bonus for the month! LOL
It's a common sight to have specialist consultation incurred up
to a few hundreds per visit, so it's really not an insignificant
amount that people cheat. I've seen people who manage to use up all
their entitlements every year! I'm really disgusted to see
people who are taking advantage of this channel, especially
since they're earning quite a lot themselves monthly.
Loophole
number 2
Before we go into number 2, let me tell you how insurance works,
it is a business, and a business is to make money.
It take into accounts of the chances that you might be down with
cancer or illness etc, and only those illness or stage of
disease that less than 50% of the total amount of buyer
will be infected will be claimable. In other words, for every 10
people who buy the insurance, only less than 5(or maybe less than
3) will down with cancer. People buy because everyone scared
that they might be the unlucky 3 fellows.
It's not a problem though. I'm just highlighting this fact to
let people know that this is the reason why medical
screening/checkup is never being covered, since they're all carried
out "voluntarily" by people.
The loopholes appear when people go to a GP for a medical
checkup,such as blood test, urine test etc, and go claim as a GP
claim! The receipt will not show if you're visiting the doctor
because you're sick or if you're going for a checkup. If it shows
too much information, simply change to another clinic! This is
a reason why people are able to claim something which they are not
allow to. If every employees use this method and hit their maximum
entitlements every year, the insurance company will fail, as it is
suppose to ensure that only less than 50% of the total supposed
coverage/entitlements figure is paid to employees in
reality.
It is not hard to see that you can actually use both loopholes
together, do a medical checkup at some clinic, and claim both
side. Bingo! Money comes! Or just see a specialist for some minor
problem, and bingo! money comes!
More to come when i have the mood to type....