Medishield Comparison. Find out which is the cheapest

BBCWatcher

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Thanks for your inputs too.. and yes, I was actually looking at NTUC’s Enhanced IncomeShield C too , so is this the most suitable premium ?
As long as she's satisfied with public hospital B2+ ward (or B2 or C), NTUC's Enhanced IncomeShield C plan is an appropriate match. However, her pre-existing conditions (if she has any) would be excluded, except for the MediShield Life benefits.(*) I also think that NTUC's Assist Rider is particularly important for this plan. Adding the Assist Rider means that NTUC would provide "first dollar" coverage (for covered services). For the first $15,000 of covered medical expenses per year, your mother would pay 10% (which can usually be paid from Medisave if she has Medisave funds available) -- so the annual maximum she would pay (cash and/or Medisave) for covered services is $1,500 if she has the Assist Rider. That "first dollar" Assist Rider is a good deal with this plan, in my view. For somebody age 62 the Assist Rider costs $224/year and would need to be paid in cash. So that's a total of $1,172 per year (age 62/citizen example). MediShield Life alone is $755 per year (age 62), so the additional cost for Enhanced IncomeShield C plus the Assist Rider is $417/year at this age. For the additional $417, the base plan ($193) can be paid with Medisave, and the Assist Rider ($224) in cash.

Let's use another age as an example: age 82. Current premiums (subject to medical inflation) are:

MediShield Life: $1,250 (can all be paid with Medisave)
Enhanced IncomeShield C Base Plan: $987 ($900 can be paid with Medisave)
Assist Rider: $725 (cash only)

Those are current premium rates, remember. Twenty years from now the premiums will undoubtedly be higher due to medical inflation. But this is really as inexpensive as it gets for stepping up to Integrated Shield coverage. Again, this particular NTUC plan is only for public hospital B2+ ward and below. (KKH, as a notable example for her, offers a B2+ ward.) Enhanced IncomeShield C is not designed for anything higher.

(*) Because of these pre-existing condition exclusions, typical middle age and older people who are signing up for their first Integrated Shield plan are probably better off with "as charged" public hospital B2 or (at most) B1 ward plans. The reason is that, if they check themselves into a more expensive hospital ward, the insurer could deny the claim anyway. They'd fall back to MediShield Life coverage, and MediShield Life would pay very little. They'd then be stuck with large medical bills. So, most likely, they'll try to avoid that big bill risk by checking into a lower cost hospital ward at the very beginning. The government says this is exactly what people are doing, even if they have insurance that supposedly covers the more expensive wards. They seem to be buying the more expensive insurance, but they fear it won't cover them.

So why buy an expensive Integrated Shield plan that covers hospital wards (public hospital A, or private hospitals) that they would never use due to the risk of a denied claim? It doesn't make much sense to me. (For younger people without pre-existing conditions, OK, sign up for the more expensive Integrated Shield plan if you wish.)
 
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Kevin10

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As long as she's satisfied with public hospital B2+ ward (or B2 or C), NTUC's Enhanced IncomeShield C plan is an appropriate match. However, her pre-existing conditions (if she has any) would be excluded, except for the MediShield Life benefits.(*) I also think that NTUC's Assist Rider is particularly important for this plan. Adding the Assist Rider means that NTUC would provide "first dollar" coverage (for covered services). For the first $15,000 of covered medical expenses per year, your mother would pay 10% (which can usually be paid from Medisave if she has Medisave funds available) -- so the annual maximum she would pay (cash and/or Medisave) for covered services is $1,500 if she has the Assist Rider. That "first dollar" Assist Rider is a good deal with this plan, in my view. For somebody age 62 the Assist Rider costs $224/year and would need to be paid in cash. So that's a total of $1,172 per year (age 62/citizen example). MediShield Life alone is $755 per year (age 62), so the additional cost for Enhanced IncomeShield C plus the Assist Rider is $417/year at this age. For the additional $417, the base plan ($193) can be paid with Medisave, and the Assist Rider ($224) in cash.

Let's use another age as an example: age 82. Current premiums (subject to medical inflation) are:

MediShield Life: $1,250 (can all be paid with Medisave)
Enhanced IncomeShield C Base Plan: $987 ($900 can be paid with Medisave)
Assist Rider: $725 (cash only)

Those are current premium rates, remember. Twenty years from now the premiums will undoubtedly be higher due to medical inflation. But this is really as inexpensive as it gets for stepping up to Integrated Shield coverage. Again, this particular NTUC plan is only for public hospital B2+ ward and below. (KKH, as a notable example for her, offers a B2+ ward.) Enhanced IncomeShield C is not designed for anything higher.

Many thanks for your kind advice, will let my mum know and do the needful. Really appreciate it.
She do not have any pre-exisiting medical condition(I am very glad for that and hopefully for the future).
 
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Bigoya

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Why? That’s an Integrated Shield plan geared to public hospital A ward coverage, not B2 or C as Kevin10 described. It certainly appears to be an inappropriate recommendation.

If Kevin10’s mother wants an “as charged” public hospital B2 (and B2+) ward Integrated Shield plan, then there’s only one choice: NTUC’s Enhanced IncomeShield C. I like the optional Assist rider with that plan.

The next best fit to Kevin10’s request is a public hospital B1 ward Integrated Shield plan. Great Eastern’s Supreme Health B Plus is probably the best of that particular bunch right now. There’s an optional rider with that plan, too.

Let’s take a look at premiums, briefly, assuming Kevin10’s mother is age 62 (random choice) and a citizen. And let’s just look at the base plan premiums for now (December, 2017, figures). AXA Shield Plan B would be $1,390 per year (including MediShield Life premiums). NTUC’s Enhanced IncomeShield C would be $948 per year. Great Eastern’s Supreme Health B Plus would be $1,138 per year. As Kevin10’s mother ages these premium gaps would widen, and riders widen the gap further.

Just because one foresee himself//herself only NEEDS B2/C ward doesn't mean they always have a choice to choose in times of need. If affordability is not an issue, please don't restrict your options before you realize it's too late to change your mind.

Reason why I did not suggest NTUC is also for the fact that their pre/post-hosp coverage is only limited to 90 days both ways.

My impression is that restructured hosp are generally slower and takes a longer time to schedule for follow-up appointments and whatnot. Furthermore should one requires on-going regular outpatient follow-ups, 90 days is gonna be insufficient.
And out-patient treatment don't come free.
 

BBCWatcher

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Just because one foresee himself//herself only NEEDS B2/C ward doesn't mean they always have a choice to choose in times of need.
Isn't that up to Kevin10's mother to decide? Kevin10 has already told us his mother doesn't want anything to do with private hospitals (and their costs), and that she's satisfied with B2 or C ward. We're documenting those assumptions very carefully, but that's the situation.

By the way, nobody needs a single bedded hospital room. I would value a single bedded hospital room (if I need hospital care), I can afford it, and thus I pay for it -- and for the insurance premiums, although I'm not really a rider fan (for me). I expect I'll be able to continue paying for my preferences for life. But I don't presume that my luxury preferences are universal or even common.

If affordability is not an issue, please don't restrict your options before you realize it's too late to change your mind.
Well OK, but affordability -- both now and for life -- is an important factor for many people.

Reason why I did not suggest NTUC is also for the fact that their pre/post-hosp coverage is only limited to 90 days both ways.
Well yes, and that's a big upgrade from the zero/zero Kevin10's mother currently has. However, I already mentioned Great Eastern's Supreme Health B Plus as the next rung on that particular ladder, with its best-in-category 120/180 pre-/post-hospitalization coverage. It also has the highest annual coverage limit in its class.

My impression is that restructured hosp are generally slower and takes a longer time to schedule for follow-up appointments and whatnot.
OK, but now you're projecting your "impressions" on Kevin10's mother, aren't you? And your instant recommendation was for a public (restructured) hospital A ward plan, because....?

Furthermore should one requires on-going regular outpatient follow-ups, 90 days is gonna be insufficient. And out-patient treatment don't come free.
And that's a big reason why she has Medisave, why avoiding inappropriate insurance is a terrific idea (to avoid draining her Medisave Account and cash reserves more quickly due to the inappropriately higher premiums), and why she plans to seek all her care from public institutions in subsidized wards and contexts. And that's also why she's considering a big upgrade from 0/0 pre-/post-hospitalization coverage to at least 90/90.
 
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Bigoya

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Isn't that up to Kevin10's mother to decide? Kevin10 has already told us his mother doesn't want anything to do with private hospitals (and their costs), and that she's satisfied with B2 or C ward. We're documenting those assumptions very carefully, but that's the situation.

By the way, nobody needs a single bedded hospital room. I would value a single bedded hospital room (if I need hospital care), I can afford it, and thus I pay for it -- and for the insurance premiums, although I'm not really a rider fan (for me). I expect I'll be able to continue paying for my preferences for life. But I don't presume that my luxury preferences are universal or even common.

Well OK, but affordability -- both now and for life -- is an important factor for many people.

Well yes, and that's a big upgrade from the zero/zero Kevin10's mother currently has. However, I already mentioned Great Eastern's Supreme Health B Plus as the next rung on that particular ladder, with its best-in-category 120/180 pre-/post-hospitalization coverage. It also has the highest annual coverage limit in its class.

OK, but now you're projecting your "impressions" on Kevin10's mother, aren't you? And your instant recommendation was for a public (restructured) hospital A ward plan, because....?

And that's a big reason why she has Medisave, why avoiding inappropriate insurance is a terrific idea (to avoid draining her Medisave Account and cash reserves more quickly due to the inappropriately higher premiums), and why she plans to seek all her care from public institutions in subsidized wards and contexts. And that's also why she's considering a big upgrade from 0/0 pre-/post-hospitalization coverage to at least 90/90.

Not sure if it's me or you. But i'm feeling some unecessary tension in here.

¯\_(ツ)_/¯
 

Kevin10

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Chill guys.. I really appreciate you guys input.. many thanks.. Chill chill

Merry Xmas and Happy New Year !

Let me go consult my mum again.. hopefully she agrees to my pov as she always reject my advice on this issue. haha.
 

swathe

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If old folks now buys a private plan, will it still cover pre existinng conditions like Medishield Life? Specifically if got high BP and mild diabetes.
 

akwl88

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Lol i say before liao and i say before again:

Agents recommend pte hosp plans with rider, then blame consumers for driving up premiums costs.

Who is the devil at play here?

:p
 

Bigoya

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Lol i say before liao and i say before again:

Agents recommend pte hosp plans with rider, then blame consumers for driving up premiums costs.

Who is the devil at play here?

:p

Lol you never say this before but let me say this for you:

Consumers keep saying govt hosp good enough, then when they don't get the required medical attention they blame everyone else but themselves.

Where did all the samaritans went?

:p
 

akwl88

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Lol you never say this before but let me say this for you:

Consumers keep saying govt hosp good enough, then when they don't get the required medical attention they blame everyone else but themselves.

Where did all the samaritans went?

:p

Trying to divert the issue because pte hosp plan commission is higher and will increase in the future.

I see what you are trying to do :s8:
 

luckygal

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Now when we take x Ray in hospital, they gave us a cd. Now to submit a cd during upgrading application?
 

BBCWatcher

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Now to submit a cd during upgrading application?
You must answer your insurance company’s questions truthfully, or explicitly decline to answer (Example: “I decline to answer Question 7.2”). But I’m not aware of any insurance carrier that asks for x-ray images upon initial application. The carrier might ask for particular medical records in a follow-up inquiry, but you can refuse. Of course, the carrier can then refuse your application, whether or not you provide the medical records they request.
 

happening

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Hi all

Updated the comparison with the latest premium.
Comparison is based on age1 till age75 for private plan.




Price comparison of IPs

ppoEN3D.jpg


Correct as of 17/12/2017



You can download the excel with all the calculations at this link: https://drive.google.com/open?id=1veHIvJgjxGS10StkBN1kOVFDP0M3xNu8

Thanks for taking time to compile these data. I think there's some typo for the rider for NTUC from 36 to 40 years old. It should be $450 instead of $585.
 

blurpandasg2014

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Thanks for taking time to compile these data. I think there's some typo for the rider for NTUC from 36 to 40 years old. It should be $450 instead of $585.

Thank you for the feedback :)
I will be correcting the error soon (probably this weekend) :D


*** UPDATED ***
 
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