With AIA premium increase by 100+ again, is it still worth it?

[Bnbstar]

Mine is medishield tie with aia hsg max c. I look at aia app, it show

1) private - standard room and below

2) hospital room & board per day is $450.

3) hospital max limit per year is $150000. Can claim this much if hospitalization.

4)
Premium payment term
10 years
Premium cessation date
01 Aug 2023
Does it mean it's expired or auto renew 10 years?

If I just used basic medishield...no enough. This I pay $520 annually.
I think can keep

This one got no cap on the co-payment right?

 

[Bnbstar]

If someone has any pre existing conditions and upgrading the plan from C to B lite or B, the pre existing conditions would still have coverage under C? Thanks

 

[BBCWatcher]

If someone has any pre existing conditions and upgrading the plan from C to B lite or B, the pre existing conditions would still have coverage under C?

Probably, but you should carefully clarify that point with the insurance carrier.

 

[Bnbstar]

does the hsg max c alone provides enough coverage?)(eg: like tio what type of illnesses would cause it to exceed coverage/alot of out of pocket expenses if opt for stay in B2/C wards) Or have to upgrade to plan b + rider for better coverage? Thanks!

 

[guangzong]

AIA HealthShield Gold Max A is AIA's Integrated Shield plan designed for private hospital care. It's their most expensive Integrated Shield plan, and it's arguably the best such plan in the market, actually.

AIA Max VitalCare refers to your rider (additional cost option) associated with the AIA HealthShield Gold Max A base plan. Rider premiums must be paid fully in cash, not with any MediSave dollars. AIA Max VitalCare is no longer offered to new customers, but existing customers can keep it if they wish.

You have the option to switch from AIA Max VitalCare to AIA Max VitalHealth A Value with no underwriting. The basic difference is that AIA Max VitalHealth A Value requires a higher co-pay (10% instead of 5%) and caps co-insurance at a higher level ($6,000 instead of $3,000, but only for private hospitals and then only if they're panel or pre-approved; it's $3,000 for public hospitals). So for small medical bills you pay somewhat more out of pocket (cash and/or MediSave). But the VitalHealth A Value premiums are lower, and it still protects against the big (or lots of small adding up to big) medical bills.

Another option is to switch the base plan and rider to one of AIA's public hospital Integrated Shield plans. Confusingly AIA HealthShield Gold Max B is their plan designed for public hospital A ward, and ...Gold Max B Lite is designed for public hospital B1 ward.

In case you're wondering you don't have to wait for your plan renewal anniversary to make switches. Lower premiums will be pro-rated and refunded. The plan/rider switches I've described (within AIA) should not involve underwriting or any preexisting condition reset, but be sure to confirm that important detail with AIA.

Given the 2023 cancer drug coverage changes I think there's a somewhat stronger argument in favor of the optional rider — but not anything more than the lowest cost rider.

I apologize for digging this old post, but i sincerely thank you for this well written summary.

Trying to Google "Vitalcare (discontinued) vs Vitalhealth" is like looking for a needle in a haystack. It does not help that my new agent (the previous one retired) could not really tell me what i will be missing out if i downgrade from Vitalcare to Vitalhealth.

Here is my predicament:
I got the Vitalcare when i was younger, not because i want to go to a private hospital, but i wanted to have the option to do so, in case i need to, e.g. restructured hospital has a longer wait.

All these years, i took care of myself, and did not make any claims, until 2023, where i had to do a minor procedure. And since i had never claimed in years, and the wait at a private hospital is shorter, i decided to go for it. I didn't use my company's group insurance (partly my fault) as my specialist was not in the panel list, and i really did not want to spend time looking for another one.
The op went well, and i had no issues with my claims (pre and post hospitalization), which came to around 10k. Out of this, i had to pay the 5% co-pay, which i feel is reasonable.

My shock came when it's time to pay my premium. It shot up exponentially, to like Level 3 - i am now paying more than 5k just for this rider, and it is cash, not CPF. And it goes up every year as i age. If i make another expensive claim, it will go up to 6k+ (Level 4 the highest).
I asked my new agent, and she seems to have not much idea other than to ask me to downgrade to Vitalhealth so i pay less for the rider. I had to tell her about what you wrote, and also what i had to pay, should i decide to go to a private hospital. E.g. after the first private hospital claim, i need to pay X amount out of pocket etc. Yes, i had to tell her after i did my own research.
It does not help that with my age, every 2 to 3 years, i have to do a colonscopy, which on Vitalcare, would probably cause me to shoot up to Level 4 if i choose to do it a private hospital. I don't think i will ever be able to downgrade the level with this, assuming it can be done (downgrade the level). Nor do i wish to risk not doing it.

Summary:
Stick with paying 5k+ per year for the Vitalcare rider, and when it becomes unbearable, downgrade to Vitalhealth, and seek treatment in restructed hospitals.

Sorry for the wall of text, but i sincerely wish to show my appreciation for your post.

 

[BBCWatcher]

I got the Vitalcare when i was younger, not because i want to go to a private hospital, but i wanted to have the option to do so, in case i need to, e.g. restructured hospital has a longer wait.

You can always go to a private hospital if you have the financial resources to do so. They still accept any combination of cash, MediSave, and insurance payouts. You have more of the former (cash and MediSave) when your insurance premiums are lower.

Also, you're not required to visit public hospitals as a subsidized patient, obtaining referrals to specialists. You can visit a public hospital as a so-called private patient. That too requires some financial resources, but it typically costs less than what private hospitals charge.

All these years, i took care of myself, and did not make any claims, until 2023, where i had to do a minor procedure. And since i had never claimed in years, and the wait at a private hospital is shorter, i decided to go for it. I didn't use my company's group insurance (partly my fault) as my specialist was not in the panel list, and i really did not want to spend time looking for another one.
The op went well, and i had no issues with my claims (pre and post hospitalization), which came to around 10k. Out of this, i had to pay the 5% co-pay, which i feel is reasonable.

My shock came when it's time to pay my premium. It shot up exponentially, to like Level 3 - i am now paying more than 5k just for this rider, and it is cash, not CPF. And it goes up every year as i age. If i make another expensive claim, it will go up to 6k+ (Level 4 the highest).

Yes, that's called claims-based pricing.

I asked my new agent, and she seems to have not much idea other than to ask me to downgrade to Vitalhealth so i pay less for the rider. I had to tell her about what you wrote, and also what i had to pay, should i decide to go to a private hospital. E.g. after the first private hospital claim, i need to pay X amount out of pocket etc. Yes, i had to tell her after i did my own research.
It does not help that with my age, every 2 to 3 years, i have to do a colonscopy, which on Vitalcare, would probably cause me to shoot up to Level 4 if i choose to do it a private hospital.

That's a lot of colonoscopies! According to HealthHub, age alone wouldn't suggest that frequency. Even 5 year intervals, plus annual FITs, would be a lot of diagnostic power unless there's something special going on.

Moreover, why do you have to go to a private hospital for a colonoscopy? Let's suppose purely for sake of argument it takes 45 days to get a colonoscopy appointment at a public hospital even as a private patient. OK, so what? Schedule the colonoscopy appointment 45 days in advance of when you need it. It's a diagnostic test. Make an appointment 6 months ahead of your next recommended test if you want. You already know when that next date is. You can even schedule one as a subsidized patient if you'd like; you have the lead time.

I don't think i will ever be able to downgrade the level with this, assuming it can be done (downgrade the level). Nor do i wish to risk not doing it.

Summary:
Stick with paying 5k+ per year for the Vitalcare rider, and when it becomes unbearable, downgrade to Vitalhealth, and seek treatment in restructed hospitals.

How about the AIA Max VitalHealth A Value rider? Make sure you won't be subject to preexisting condition exclusions if you switch to that rider. But if you insist on riding the private hospital plan/rider curves, wouldn't the lowest cost rider be worth considering?

 

[guangzong]

You can always go to a private hospital if you have the financial resources to do so. They still accept any combination of cash, MediSave, and insurance payouts. You have more of the former (cash and MediSave) when your insurance premiums are lower.

Also, you're not required to visit public hospitals as a subsidized patient, obtaining referrals to specialists. You can visit a public hospital as a so-called private patient. That too requires some financial resources, but it typically costs less than what private hospitals charge.

Thank you for your responses. I appreciate them.

Yes, i am aware of that. And yes, and i did do this (visit restructured as a private patient) in the past. But in my personal experience, i prefer the care i get in private hospitals. This is not to say restructured hospitals are not good, it is just my experience.

That's a lot of colonoscopies! According to HealthHub, age alone wouldn't suggest that frequency. Even 5 year intervals, plus annual FITs, would be a lot of diagnostic power unless there's something special going on.

Correct, every 5 years. If polyps are detected, then the recommendation is every 2 to 3 years. This is stated on the HealthHub article you quoted.

Moreover, why do you have to go to a private hospital for a colonoscopy? Let's suppose purely for sake of argument it takes 45 days to get a colonoscopy appointment at a public hospital even as a private patient. OK, so what? Schedule the colonoscopy appointment 45 days in advance of when you need it. It's a diagnostic test. Make an appointment 6 months ahead of your next recommended test if you want. You already know when that next date is. You can even schedule one as a subsidized patient if you'd like; you have the lead time.

This i agree, and would look into.

How about the AIA Max VitalHealth A Value rider? Make sure you won't be subject to preexisting condition exclusions if you switch to that rider. But if you insist on riding the private hospital plan/rider curves, wouldn't the lowest cost rider be worth considering?

According to my agent, no underwriting, so i guess not subject to pre-existing conditions if i am not mistaken.