Medishield Comparison. Find out which is the cheapest

[windwaver]

It depends what kind of claims. It is best to declare claims and let the underwriter decides.

Do insurance companies bother about customers that make claims after 3 or 5 years of no claim?

 

[Nystalia1990]

Do insurance companies bother about customers that make claims after 3 or 5 years of no claim?

When comes to claims, company are very particular. So this is why I advised to declare any claims experiences before.

 

[AuGtiMuS]

Hi TS, Prices for GE and AIA is wrong from 51 yr old onwards. your cash outlay is correct buy premiums wrong.

 

[windwaver]

When comes to claims, company are very particular. So this is why I advised to declare any claims experiences before.

Agree, that's why if there's no need to choose a doctor, the basic medishield life for C/B2 ward is good enough.

 

[blurpandasg2014]

Hi TS, Prices for GE and AIA is wrong from 51 yr old onwards. your cash outlay is correct buy premiums wrong.

Thank u for the feedback. I will update the excel once I have the time. I will also include the latest pricing by insurers

 

[Soul77]

Hm... My Aviva plan increase so much. Need to top up $48 cash now as the $300 cap is exceeded.. Hopefully the government can look at this and increase the cap.

 

[jshares]

My humble take on private health shield:

Insurers don't earn much from health shield, but they leverage on volume to make up the risk and lower revenue; they prefer you buy sell Whole Life, Endow and ILPs.

You want to GTFO of hospital ASAP, not stay there to enjoy aircon, TVs & privacy, thereby incurring unnecessary costs.
Therefore, one should opt for at most B2 wards, save the $$$ from paying high premiums for other medical costs incurred.

Take it as DEFAULT that premiums will increase every 2 years at a X% rate and work up your costs till 40 years old. Why 40? Because that is the age with the highest possibility of getting retrenched with 6 to 12 months without income.

Calculate the costs from Age 41 to 70, without govt subsidy, assuming you are earning at 50% of your last drawn pay at age 40.
If you are young, assume you have pay rise at 3% per annum till age 40.

After factoring all these risks, the $$$ you save from getting the cheapest possible healthshield should be able to cover the extra medical costs; this is of course taking into account that you have an effective Term Plan and discipline to consistently save $$$.

And one last thing, always stick with local insurers. You will never know foreign insurers will still be around or play punk in this climate of uncertainties.

 

[dan1982]

Hi all,

Personal bad claim experience with AIA and my scenario applies for female and kids warded as private patient in KKH. BE WARNED!!

KKH will impose a general admin fee of $17.12 ($16 + 1.12 GST) for all patients that are claiming insurance per hospitalisation. But they absorb this charge if you are a subsidised patient. When the hospital e-filed, AIA excluded this item in the claim. I had some back and forth with KKH to ascertain this item they were sending me a bill of $17.12 for and once they confirmed what it was, I reverted to AIA. I had bought a private plan for my younger son and due to bed shortage at KKH, we had to settle for a B1 bed (For kids, this is bad as 1 noisy kid or kid crying in the middle of the night will set off a chain reaction). Final bill came up to be around $3k only for 5 nights stay, if I had webt private, they would have to pay more, so why should I pay this.

AIA then stated that admin charges were not covered under their policy. I explained that this was in bad faith as it was completely incidental to hospital stay. They say their fine print TnC. LLST.

I have emails to back me up, so am not flaming them.

GE covered this charge for my elder son's policy and after reading through AXA's plan, I believe this is covered as well for them. Not sure about rest, as they either increased rates or is NTUC (I had poor exp with their admin previously for a term plan, so never).

The amount is very small and insignificant, but it gave me added admin headache to have to pay $17.12. On top of that, the way our hospitals are run these days, what if next time my kid needs to be warded at KKH, but is placed on a lower priority because of an unpaid bill, all because AIA never pay or like how our polyclinics are run, you pay your previous outstanding then can register?

Lastly, for $17.12, you wanna flip prata already, if touch wood I got problems with bigger amounts, you flip 1 upsized murtabak, how?

I should be switching to another provider (Probably AXA, due to longer pre and post hospitalisation coverage at lower cost). Make $$ still jack up prices and flip prata! Had enough of AIA!

 

[windwaver]

Hi all,

Personal bad claim experience with AIA and my scenario applies for female and kids warded as private patient in KKH. BE WARNED!!

Lastly, for $17.12, you wanna flip prata already, if touch wood I got problems with bigger amounts, you flip 1 upsized murtabak, how?

I should be switching to another provider (Probably AXA, due to longer pre and post hospitalisation coverage at lower cost). Make $$ still jack up prices and flip prata! Had enough of AIA!

Bro, you can't switch if there is medical history and insurance companies know that consumers are at their mercy; Don't expect good service from them.

I can understand your frustrations.

 

[linusz]

Think should consider insurer in the black which mean good cost controls plus non negative claim experience and perhaps local.

Only 1 if based on above. Any thoughts?

http://www.businesstimes.com.sg/banking-finance/higher-medical-costs-claims-take-a-toll-on-3-out-of-5-ip-insurers#xtor=CS1-3

 

[windwaver]

Think should consider insurer in the black which mean good cost controls plus non negative claim experience and perhaps local.

Only 1 if based on above. Any thoughts?

http://www.businesstimes.com.sg/banking-finance/higher-medical-costs-claims-take-a-toll-on-3-out-of-5-ip-insurers#xtor=CS1-3

Local meaning NTUC? Rest are all offshore companies.

 

[akwl88]

As I am now a consumer of healthcare insurance, what I am learning about insurance companies scares me even more. I was in hospital for a few weeks in Oct and chalked up a bill of well over $100,000, which I had to pay out of my own pocket first. I blamed the hospital for being too kiasu by getting money from me first.

Then, a letter from the insurance company arrived and stating that they will not be paying anything until my oncologist replies to their list of questions. The insurance company tells that this process can easily take another 10 weeks! I then called my oncologist who kindly filled up the list of questionaire and sent it back to the insurance company. Let me see whether the insurance company finds other ways of dragging its feet.

Of course no one wants to stay in hospital for a few weeks unless he is very sick! Glad to say, I am now on the road to recovery ... but have still to sort out these insurance issues which I previously thought will be transparent to me. How wrong I was!

For those with private health insurance cover, be aware.... your policy may require you to have a few hundred thousand dollars sitting idle in the bank..... yes, this is not mentioned even in the fine print and certainly will not be mentioned by your insurance agent!

At best, if you have private healthcare insurance and intend to make use of the private hospitals or approved clinics, you should view your insurance plan as a reimbursement plan.... you have to pay upfront first and your insurance company hopefully will pay you back ( yes, there will be clauses in your insurance plan to allow them the flexibility of reviewing all charges before paying you back). Payback time is also up to the insurance company.

Read more: http://pertama.freeforums.net/threa...ce-cancer?page=1&scrollTo=14896#ixzz4SmCWtL3k

 

[Soul77]

What about public hospitals? are they willing to wait until the insurance companies paid the money?

 

[iCube00]

Re: your price comparion

how come GE & AIA you sum till 75yo while the rest you sum till 80yo?

like that can compare?

 

[windwaver]

As I am now a consumer of healthcare insurance, what I am learning about insurance companies scares me even more. I was in hospital for a few weeks in Oct and chalked up a bill of well over $100,000, which I had to pay out of my own pocket first. I blamed the hospital for being too kiasu by getting money from me first.

Then, a letter from the insurance company arrived and stating that they will not be paying anything until my oncologist replies to their list of questions. The insurance company tells that this process can easily take another 10 weeks! I then called my oncologist who kindly filled up the list of questionaire and sent it back to the insurance company. Let me see whether the insurance company finds other ways of dragging its feet.

Of course no one wants to stay in hospital for a few weeks unless he is very sick! Glad to say, I am now on the road to recovery ... but have still to sort out these insurance issues which I previously thought will be transparent to me. How wrong I was!

For those with private health insurance cover, be aware.... your policy may require you to have a few hundred thousand dollars sitting idle in the bank..... yes, this is not mentioned even in the fine print and certainly will not be mentioned by your insurance agent!

At best, if you have private healthcare insurance and intend to make use of the private hospitals or approved clinics, you should view your insurance plan as a reimbursement plan.... you have to pay upfront first and your insurance company hopefully will pay you back ( yes, there will be clauses in your insurance plan to allow them the flexibility of reviewing all charges before paying you back). Payback time is also up to the insurance company.

Read more: http://pertama.freeforums.net/threa...ce-cancer?page=1&scrollTo=14896#ixzz4SmCWtL3k

Excellent share.

Insurance companies are dragging their feet to see if they can avoid paying for any procedures ordered even if it's medically necessary.

Don't be surprise if a chunk of that $100K cannot be claim at all.

More people should post more of these excellent articles

 

[blurpandasg2014]

Updated Prudential/Aviva Premium. Also included AXA with General Rider as requested. Please continue to highlight any discrepancies so i can update the excel. Thank u all

 

[blurpandasg2014]

Re: your price comparion

how come GE & AIA you sum till 75yo while the rest you sum till 80yo?

like that can compare?

To avoid confusion, i have consolidated all premiums and calculated only until age 75 since not all insurers show the prices after age 75 on their website.

 

[RoLanTo]

Hi.. currently my 1st kid is on NTUC enhanced incomeshield preferred plan with assist rider..

i am going to have my second kid soon, just to ask about AXA shield plan..
it seems that i cant find an exact match of coverage like above, AXA plan A + Basic is like Income preferred + Plus rider... AXA doesnt have something similar like assist rider.

So benefit and cost wise, should i stay with Income Preferred + Assist rider OR Plan A + Basic ??

AXA general care rider provides benefit that doesnt include in Income any rider.. so i did not use that for comparison

 

[harky]

can share the data?

To avoid confusion, i have consolidated all premiums and calculated only until age 75 since not all insurers show the prices after age 75 on their website.

 

[harky]

no need agent le..

just go to their office/stall which location @ mall to get it done.

I having problem with NTUC.

Met up with an agent last month to get the enhanced plan (preferred). I have not paid for the rider as the stupid agent did not tell me that giro is only meant for renewal and I naively thought it has deducted from my bank account till i received reminder letter to pay for the rider. Told the agent that i want to pay via AXN machine and will like to cancel giro application. He has the nerve to tell me to get the Giro Cancellation form from the bank itself! (the form is in their website for goodness sake!).

Call the NTUC hotline to make a complaint. Decided to cancel the giro and also change agent. NTUC assigned another agent to me and she called me up. Okay, so i signed the change of adviser form and emailed to her. Till now no call/email from her. Totally nothing.

My qn is - will the main plan be cancelled automatically if i did not pay the rider (i have already cancelled the giro? Or I am still insured under the main plan(w/o rider of cos) till next year upon expiry date?

Sorry for the lengthy post.