Advice for Hospitalisation Plan

[jujuhippo]

Dear all

I am currently researching on the hospitalisation plan and would like to seek forumers advice here.

Questions:

1. Medishield Life will be implemented soon, and insurance companies are urging me to purchase their private plans as their premiums will increase. However, I thought that prices for these plans are not locked in. Hence, why the need for hurry? I can purchase the plans after the prices have been revised correct?

2. I have looked at the following plans:

a) AIA HealthShield Gold Max A
but I would need to add the rider ' AIA Max Essential' in order to remove the deductibles and co-insurance
Price: $195 (Medisave) + $166 (Cash) + $350 (Cash for Rider) = $711

b) Prushield Extra A Premier
This already consists of the rider which removes deductibles and co-insurance
Price: $191 (Medisave) + $349 (Cash) = $540

Based on this two comparisons, it's obvious that Prudential is cheaper. Anyone able to advise what else I should look at for comparison purpose?

In addition, I am also waiting for GE to get back to me on their plans. Any other insurance companies should I look at?

 

[Lewis.T]

Dear all

I am currently researching on the hospitalisation plan and would like to seek forumers advice here.

Questions:

1. Medishield Life will be implemented soon, and insurance companies are urging me to purchase their private plans as their premiums will increase. However, I thought that prices for these plans are not locked in. Hence, why the need for hurry? I can purchase the plans after the prices have been revised correct?

2. I have looked at the following plans:

a) AIA HealthShield Gold Max A
but I would need to add the rider ' AIA Max Essential' in order to remove the deductibles and co-insurance
Price: $195 (Medisave) + $166 (Cash) + $350 (Cash for Rider) = $711

b) Prushield Extra A Premier
This already consists of the rider which removes deductibles and co-insurance
Price: $191 (Medisave) + $349 (Cash) = $540

Based on this two comparisons, it's obvious that Prudential is cheaper. Anyone able to advise what else I should look at for comparison purpose?

In addition, I am also waiting for GE to get back to me on their plans. Any other insurance companies should I look at?

1) They will be locked in for the year, if it means anything to you. Anyway, it might be too late to get it now at the previous premiums, so just do a comparison to see if you want to just have the basic medishield life, or wish to have additional hospitalization coverage when the revised plans roll out.

2) You can look at claims return rate, maximum limits per year, longest number of pre and post hospitalization coverage etc, but in essence they all work similarly and you should put your premiums in the advisor or company you prefer more.

 

[jujuhippo]

1) They will be locked in for the year, if it means anything to you. Anyway, it might be too late to get it now at the previous premiums, so just do a comparison to see if you want to just have the basic medishield life, or wish to have additional hospitalization coverage when the revised plans roll out.

2) You can look at claims return rate, maximum limits per year, longest number of pre and post hospitalization coverage etc, but in essence they all work similarly and you should put your premiums in the advisor or company you prefer more.

Hi there, thanks for your reply.

This means if I purchase the plan now, the premiums will be locked in for 1 year, and then when i renew the plan next year, it will be based on the new premiums which is after the revision?

 

[Lewis.T]

You may not be able to purchase now, as we are now in the transitioning phase for medishield life.

 

[jujuhippo]

You may not be able to purchase now, as we are now in the transitioning phase for medishield life.

would that have an impact on the coverage? for e.g. better coverage in certain aspects?

 

[Lewis.T]

An integrated shield plan consists of the base medishield/medishield life portion, and the insurer's own coverage.

Medishield life will cover you for pre-existing illnesses, so if you opt to stay in a ward that is covered by medishield life, you can claim from medishield life up to their limits on the pre-existing illness. You would not have had this cover otherwise if we were still on medishield.

Other than that, coverage should remain similar across the board as previously.

 

[zoossh]

An integrated shield plan consists of the base medishield/medishield life portion, and the insurer's own coverage.

Medishield life will cover you for pre-existing illnesses, so if you opt to stay in a ward that is covered by medishield life, you can claim from medishield life up to their limits on the pre-existing illness. You would not have had this cover otherwise if we were still on medishield.

Other than that, coverage should remain sihttps://docs.google.com/spreadsheet/ccc?key=0ArILpNb6Ge1UdHkyRlRJTHNmX0NmTEdfeFZYQ2prZFE&usp=sharingmilar across the board as previously.

How to define pre existing

1. Conditions that are declared

2. Conditions that is proven to occur prior to date of declaration and not just maybe related to current condition.

 

[Lewis.T]

How to define pre existing

1. Conditions that are declared

2. Conditions that is proven to occur prior to date of declaration and not just maybe related to current condition.

Conditions that are declared and accepted as standard life should have no issues when claiming from the company.

For conditions that have an exclusion, you can opt for a medishield life ward (b2 gov and below) and have it subsidized.

 

[IndependentFA]

Dear all

I am currently researching on the hospitalisation plan and would like to seek forumers advice here.

Questions:

1. Medishield Life will be implemented soon, and insurance companies are urging me to purchase their private plans as their premiums will increase. However, I thought that prices for these plans are not locked in. Hence, why the need for hurry? I can purchase the plans after the prices have been revised correct?

2. I have looked at the following plans:

a) AIA HealthShield Gold Max A
but I would need to add the rider ' AIA Max Essential' in order to remove the deductibles and co-insurance
Price: $195 (Medisave) + $166 (Cash) + $350 (Cash for Rider) = $711

b) Prushield Extra A Premier
This already consists of the rider which removes deductibles and co-insurance
Price: $191 (Medisave) + $349 (Cash) = $540

Based on this two comparisons, it's obvious that Prudential is cheaper. Anyone able to advise what else I should look at for comparison purpose?

In addition, I am also waiting for GE to get back to me on their plans. Any other insurance companies should I look at?

You should also look to consider Aviva's Hospital Plan. In my opinion, you should not place price as the only factor in deciding which plan to go ahead with. Certain plans provide planning for the future which you have to consider too. Hope this helps

 

[limster]

Certain plans provide planning for the future which you have to consider too. Hope this helps

You mean some hospitalisation plans provide planning for the future AND
some hospitalisation plans don't provide planning for the future?

What terrible thing might happen to me if I buy a hospitalisation plan that doesn't provide planning for the future?

 

[pcmdan]

You should also look to consider Aviva's Hospital Plan. In my opinion, you should not place price as the only factor in deciding which plan to go ahead with. Certain plans provide planning for the future which you have to consider too. Hope this helps

Sorry to say, Aviva plan is one of the most expensive out there

The downs:

1. one of the most expensive
2. lousier claim rate
3. less protection (e.g. only 4 kids of preggie complications, compared with the others in the market)
4. less pre and post treatment days

the Pros:

1. if you have an existing condition, you can apply for the moratarium, but if you dont, this is USELESS

2. if you have a child and your wife buy it together with you, you will get free child cover up to 20 years for Plan 2. you can upgrade to your child to plan 1, but you have to pay a normal rate. No special rate. (to me this is a down too)

 

[IndependentFA]

You mean some hospitalisation plans provide planning for the future AND
some hospitalisation plans don't provide planning for the future?

What terrible thing might happen to me if I buy a hospitalisation plan that doesn't provide planning for the future?

Dont have to sound so sarcastic here.

Im just saying that Aviva's plan has the option of the free child cover in the event that both parents are covered under Plan 2 and above. This is part of planning for the future; for when you have kids and start a family

 

[pcmdan]

You mean some hospitalisation plans provide planning for the future AND
some hospitalisation plans don't provide planning for the future?

What terrible thing might happen to me if I buy a hospitalisation plan that doesn't provide planning for the future?

i do not know of any H&S policies that have such planning for the future. Anyway of the major insurance companies out there, all is plan for future use (touch wood), if you ever admitted to one.

 

[pcmdan]

Dont have to sound so sarcastic here.

Im just saying that Aviva's plan has the option of the free child cover in the event that both parents are covered under Plan 2 and above. This is part of planning for the future; for when you have kids and start a family

True, but, is useless if the post and pre treatment is only 90 days. Best still, my brother got into a car accident few years ago. As his injury was not severe and he was not admitted, he cant even claim anything from AVIVA..

pathetic.

 

[IndependentFA]

Sorry to say, Aviva plan is one of the most expensive out there

The downs:

1. most expensive
2. lousier claim rate
3. less protection (e.g. only 4 kids of preggie complications, compared with the others in the market)
4. less pre and post treatment days

the Pros:

1. if you have an existing condition, you can apply for the moratarium, but if you dont, this is USELESS

2. if you have a child and your wife buy it together with you, you will get free child cover up to 20 years for Plan 2. you can upgrade to your child to plan 1, but you have to pay a normal rate. No special rate. (to me this is a down too)

Hi pcmdan,

I was just laying out the options for TS for his hospitalisation plan choices, and Aviva happen to be one of them (not forgetting NTUC as well as GE).

I think you have made some false statements with regards to the Aviva Plan.

1) It is not the most expensive. Depending on the Age Band that you are in, the premiums differ. Of course there will be certain ages that Aviva might seem the most expensive, but you fail to notice that in the later years Aviva's premium does not increase or increase less significantly compared to the other insurers. Other insurers premiums tend to spike up at the later years rather significantly.

2) Claim Rate. I honestly dont know how you can make such statements to a specific insurer as all cases are dealt with on a case by case basis in the event of issuing the claims. Obviously if you have a pre-existing condition and didnt declare at the inception of the policy or try to hide it, you will face difficulties in trying to claim it. Simple as that; in my opinion all insurers are fair when dealing out their claims. Read the fine prints!

3) Pre and Post hospitalisation for Aviva's shield plan is 90 days and 180 days respectively. This is with Aviva myShield and myHealth plus rider components; deductible and Co-insurance all covered for. I think this is almost the same as all insurers out there so I dont know why you say its "less"

Anyways, I hope this clarify some facts!

 

[IndependentFA]

True, but, is useless if the post and pre treatment is only 90 days. Best still, my brother got into a car accident few years ago. As his injury was not severe and he was not admitted, he cant even claim anything from AVIVA..

pathetic.

I'm truly sorry to hear about that.

But it is important to note that for the hospitalisation plan, it is to cover any hospitalisation claims. You cant blame Aviva for being pathetic. If he is not admitted to the hospital how can Aviva reimburse you? I dont think it is fair to blame the insurer in this case.

No matter what hospital plan you buy, you wont be able to claim that!

In your case, a Personal Accident plan should be able to cover your brother's outpatient treatment!

 

[expert128sg]

I'm truly sorry to hear about that.

But it is important to note that for the hospitalisation plan, it is to cover any hospitalisation claims. You cant blame Aviva for being pathetic. If he is not admitted to the hospital how can Aviva reimburse you? I dont think it is fair to blame the insurer in this case.

No matter what hospital plan you buy, you wont be able to claim that!

In your case, a Personal Accident plan should be able to cover your brother's outpatient treatment!

Sadly I am also under Aviva.


1) My friend who is prudential say one can claim if he had prudential.
See footnote 16:
This benefit pays for charges incurred in the short stay ward in the emergency departments even if it does not result in the hospitalisation of the life assured.
(I apologize if I sounded rude: but please read the fine prints)


2) Lets take an e.g. of someone who is 30yo, if you calculate the differences between Aviva and Prudential, ultimately there is still savings when the insured reach 80.


3) Claim rate: see stats from MOH. Stats don't lie
https://www.moh.gov.sg/content/moh_...s/Medishield/Medisave-approved_Insurance.html
Based on your reasoning, it seems that people who are liars usually with companies that got lousier claim rates?


4) 180 days was recently added? Last time I remember mine was 90 90. Anyway prudential is both 180 180. So I think I am in no wrong to say LESS

5) insurance is a LT commitment, you cant just based on the later age and decide if it is cheaper or more expensive. Hence, it would be more wise to compare on a WHOLE.

 

[Perisher]

Gotta remind everyone to stay chill. There is no need to flare up on a online forum.
Don't try to provoke anyone, just make your point and that's that.

Thank for cooperation.

 

[expert128sg]

Gotta remind everyone to stay chill. There is no need to flare up on a online forum.
Don't try to provoke anyone, just make your point and that's that.

Thank for cooperation.

Hi Perisher, don't think I am flaring up. I am also trying to proof my point.

 

[pcmdan]

I am also on Aviva