Yip Hon Weng on Central Provident Fund (Amendment) Bill
The proposed expansion of the Home Protection Scheme (HPS) offers a critical safety net, ensuring that people do not have to fear losing their homes if they face financial difficulties when a health crisis strikes. However, safeguards must be in place to ensure “unintended burdens” are not placed on those least able to shoulder them. MP Yip Hon Weng said this in Parliament on Monday (Oct 14). He sought clarification on several points, including whether premium loading based solely on health risks is fair; whether the policy will disproportionately affect those with pre-existing conditions and in the lower-income group; what medical conditions will be covered and how assessments will be made; and how frequently premiums will be reviewed and how such reviews will be communicated to the public.
The proposed expansion of the Home Protection Scheme (HPS) offers a critical safety net, ensuring that people do not have to fear losing their homes if they face financial difficulties when a health crisis strikes. However, safeguards must be in place to ensure “unintended burdens” are not placed on those least able to shoulder them. MP Yip Hon Weng said this in Parliament on Monday (Oct 14). He sought clarification on several points, including whether premium loading based solely on health risks is fair; whether the policy will disproportionately affect those with pre-existing conditions and in the lower-income group; what medical conditions will be covered and how assessments will be made; and how frequently premiums will be reviewed and how such reviews will be communicated to the public.
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