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Old 16-01-2018, 10:00 AM   #1
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Cover Deductible and Co-Insurance

Is that need to buy the rider ?
Actually how much is the deductible ???
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Old 16-01-2018, 11:11 AM   #2
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Are you referring to Integrated Shield plans? If so, the deductible varies depending on what type of base plan you buy. These deductibles are typical, and assuming a hospital stay in the highest ward class the policy is designed to support well:

Public Hospital B2 Ward Plan: $2,000 (NTUC Enhanced IncomeShield C is the only plan of this type.)
Public Hospital B1 Ward Plan: $2,500
Public Hospital A Ward Plan: $3,500
Private Hospital Plan: $3,500

These deductibles are typically increased by 50% for older policyholders. (The definition of "older" varies.)

The co-pay is 10%, meaning that the Integrated Shield base plan covers 90% of your billed expenses for covered medical services up to the highest ward class the policy is designed to support well.

Should you buy a rider that reduces or eliminates co-insurance? Here are some considerations:

1. You must pay cash for the rider. You cannot use your never taxed Medisave dollars, at all.

2. You can use Medisave for most of your deductible(s) and co-pay(s), and you can only use Medisave for medical spending.

3. The deductible and co-pay are unpleasant perhaps -- nobody likes spending money -- but they are not usually financially catastrophic. Insurance is really for defending against calamities and catastrophes that you cannot reasonably defend against yourself.

4. The deductible is reduced if you voluntarily stay in a lower class ward. For example, if you have a public hospital A ward Integrated Shield base plan, then the deductible drops from $3,500 to $2,500 if you stay in B1 ward -- and $2,000 if you stay in B2 ward (or B2+ ward). So you have some flexibility to reduce your deductible opportunistically if you wish, if for example you're unemployed, need to be admitted to the hospital, and want to economize at that moment. (But you really shouldn't purchase a higher ward plan if you never intend to stay in the highest ward class the policy supports well.)

My general view is that, if you purchase NTUC's Enhanced IncomeShield C as your base plan, you really ought to buy their Assist Rider along with it. With that exception, in my view you can either skip the rider or consider a "Lite" or "Saver" rider if offered. A "Lite" or "Saver" rider (typical names) usually cuts your deductible in half and eliminates your co-pay. That could be a reasonable thing to do (and not too expensive) if you're particularly concerned about keeping out-of-pocket medical costs capped. Then you'd cover your remaining deductible ($1,750 for example) from your Medisave Account, typically. Beyond that "Lite" or "Saver" rider level, I think the riders are poor values.

Last edited by BBCWatcher; 16-01-2018 at 11:14 AM..
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Old 16-01-2018, 11:30 AM   #3
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thanks for your reply.
Have the Integrated shield, then got another to top up is for deductible and co-insurance. Don't know worth to add money buy the top up or not.
Is that means rider is good to have ?
Can go hospital and totally forget everything about the bills ?

Are you referring to Integrated Shield plans? If so, the deductible varies depending on what type of base plan you buy. These deductibles are typical, and assuming a hospital stay in the highest ward class the policy is designed to support well:

Public Hospital B2 Ward Plan: $2,000 (NTUC Enhanced IncomeShield C is the only plan of this type.)
Public Hospital B1 Ward Plan: $2,500
Public Hospital A Ward Plan: $3,500
Private Hospital Plan: $3,500

These deductibles are typically increased by 50% for older policyholders. (The definition of "older" varies.)

The co-pay is 10%, meaning that the Integrated Shield base plan covers 90% of your billed expenses for covered medical services up to the highest ward class the policy is designed to support well.

Should you buy a rider that reduces or eliminates co-insurance? Here are some considerations:

1. You must pay cash for the rider. You cannot use your never taxed Medisave dollars, at all.

2. You can use Medisave for most of your deductible(s) and co-pay(s), and you can only use Medisave for medical spending.

3. The deductible and co-pay are unpleasant perhaps -- nobody likes spending money -- but they are not usually financially catastrophic. Insurance is really for defending against calamities and catastrophes that you cannot reasonably defend against yourself.

4. The deductible is reduced if you voluntarily stay in a lower class ward. For example, if you have a public hospital A ward Integrated Shield base plan, then the deductible drops from $3,500 to $2,500 if you stay in B1 ward -- and $2,000 if you stay in B2 ward (or B2+ ward). So you have some flexibility to reduce your deductible opportunistically if you wish, if for example you're unemployed, need to be admitted to the hospital, and want to economize at that moment. (But you really shouldn't purchase a higher ward plan if you never intend to stay in the highest ward class the policy supports well.)

My general view is that, if you purchase NTUC's Enhanced IncomeShield C as your base plan, you really ought to buy their Assist Rider along with it. With that exception, in my view you can either skip the rider or consider a "Lite" or "Saver" rider if offered. A "Lite" or "Saver" rider (typical names) usually cuts your deductible in half and eliminates your co-pay. That could be a reasonable thing to do (and not too expensive) if you're particularly concerned about keeping out-of-pocket medical costs capped. Then you'd cover your remaining deductible ($1,750 for example) from your Medisave Account, typically. Beyond that "Lite" or "Saver" rider level, I think the riders are poor values.
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Old 16-01-2018, 12:17 PM   #4
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Have the Integrated shield, then got another to top up is for deductible and co-insurance.
Which Integrated Shield plan do you have?

Don't know worth to add money buy the top up or not.
I can offer an opinion if you like.

Is that means rider is good to have ?
A rider is "good to have," sure. Unfortunately it's not free, so you have to decide whether it's good value for money. My general view is no, with two exceptions: NTUC's Assist Rider if you have their Enhanced IncomeShield C plan, and (possibly) the "Lite" or "Saver" rider, if offered, that reduces your deductible by 50% and eliminates the 10% co-pay.

Can go hospital and totally forget everything about the bills ?
That's the general idea, but not quite. As examples:

1. The hospital might still require you to pay part or all of the bill up front, then seek reimbursement. Getting a "Letter of Guarantee" from the insurer can help but doesn't necessarily fully solve this cash flow problem.

The fact you're interested in a rider suggests that you're concerned about cash flow, of being expected to pay something at the hospital. But even a rider might not solve that problem.

2. The insurance plan only applies to covered services. If you stay in a higher ward class, or in a private hospital (when the plan is designed for public hospitals), or get something that isn't medically necessary (as the policy defines it), or an "experimental" treatment, you could have some expenses that the insurer won't cover.

3. The insurer doesn't cover preexisting conditions, for the most part.

4. Some Integrated Shield plans have "timeouts," such as caps on the number of days spent in a community hospital. (That's a pretty common one.)

You still ought to be a medically aware consumer, I'm afraid.
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Old 17-01-2018, 12:55 AM   #5
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Hi bro bbcwatcher

If let said i have prushield A premier plan.Do you think i should top up for the rider pruextra?

Worth it?i m just worry i cant handle the bill as my health is not good as before.I just wanna be prepared in case.Sigh
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Old 17-01-2018, 09:06 AM   #6
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If let said i have prushield A premier plan.Do you think i should top up for the rider pruextra?
OK, let's review.

If you have PRUshield Premier (base Integrated Shield plan), and if you were to be hospitalized, then there would be a deductible and a co-pay. The deductible is ordinarily $3,500, but it will be reduced to $2,500 if you check into a public hospital B1 ward (or even lower if you check into a lower class ward). The deductible is increased 50% if you're age 85 or older. Your co-pay is 10%.

So let's suppose you have a $20,000 private hospital bill (which would be $13,000 in public hospital A ward class or $9,000 in B1 ward, let's suppose), and you stay for 3 days. And let's suppose there's no part of the bill that insurance and Medisave cannot pay, such as a special luxury meal, special TV fee, or preexisting condition. Here's what you'd pay (and you could pay this from Medisave), assuming you're under age 85:

Private Hospital Stay: $5,150
Public Hospital A Ward Stay: $4,450
Public Hospital B1 Ward Stay: $3,150

In all these cases the base Integrated Shield plan pays the big majority of the bill, but you'd pay the deductible and co-pay. If you have Medisave funds, you could pay these amounts from Medisave. As you can see, you have some control over this, depending on what hospital and ward class you choose. (That's also true at private hospitals. The single bedded rooms there cost more than the multi-bedded rooms.)

If you think these amounts (even with your Medisave) would cause you serious financial hardship, or if you're worried about other situations that might cause serious financial hardship, you could consider adding a rider. The rider is not free, and I'll save a bit of work here and suggest you only look at the PRUextra Premier Lite rider. (It's the most affordable rider for PRUshield Premier and the best value.) Using the above example, here's what the bill sizes would be (to you) if you have that Lite rider:

Private Hospital Stay: $1,750
Public Hospital A Ward Stay: $1,375
Public Hospital B1 Ward Stay: $1,150

So the Lite rider knocks down your deductible and caps your payment at $1,750 (which can still be paid from Medisave in this example). The figures are lower for public hospital stays because the Lite rider gives you a daily cash benefit for choosing the lower cost public hospital. (The insurance company saves money and shares some of that savings with you.)

OK, so let's summarize. The biggest decision you can make if you're concerned about costs is to choose a public hospital, not a private hospital. The next biggest decision is to choose a B1 or lower ward class. Those medical consumer decisions can save you a lot of money, and ease the burden on your Medisave Account deductions -- and medical insurance premiums. Unless you have a strong reason to want private hospital coverage, that's the best thing you can do -- and to switch to the PRUshield Plus Integrated Shield plan (which is for public hospital coverage), with its lower premiums. Then, if you have plenty of Medisave funds, no problem, really. You must use Medisave for qualified medical expenses (and base plan insurance premiums), so a rider that helps you conserve Medisave dollars if you're hospitalized isn't really that interesting. That's my approach, as it happens: PRUshield Plus with more than enough Medisave.

You also mentioned your "health is not as good as before." Well, that's a preexisting condition, or could be anyway. If you add a rider, the rider will not cover any condition that you already have. You don't get any rider premium discount for preexisting conditions.
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