aviva myshield plus option A vs option C

[RSKeisuke]

What is the difference actually?

The brouchure states option c cover from the 1st dollar onwards.

So typically, how much more does someone who is covered under option A has to fork out for medical/hospitalisation charges?

 

[NiteX2]

Option A covers the co-payment portion only and not the deductibles. Option C covers both co-payment and deductibles hence the difference in premiums.

 

[RSKeisuke]

Whats co-payment and whats deductible?

 

[wolfberries]

Better get option C. Cover from first dollar.

 

[joasky]

Deductible is the initial amount you need to pay for claim(s) made in a policy year. The deductible is only required to be accumulated once in a policy year.

The applicable deductible would be determined by the type of ward/hospital during the admission. For example,
Private Hospital/Restructured Hospital A Ward - $3,500.00
Restructured Hospital B1 Ward - $2,500.00
Restructured Hospital B2 Ward - $2,000.00
Restructured Hospital C Ward - $1,500.00

There are of course different deductibles for day surgery dependable on different insurers.

Co-payment refers to the percentage of the bill that you need to pay on the portion of the bill above the deductible.

For example, should you have opted in a Government Hospital, A Ward:
Hospital Bill Size: $10,000.00
Less Deductible: $3,500.00
Net Amount: $6,500.00
Less Co-insurance (10%): $650.00
Net Payable from insurance company: $5,850.00

Therefore if you are looking at purchasing the private integrated plan (basic), the amount that you would have to fork out on your own would be $4,150.00. Should you be looking at Option C coverage, $0 would be out from your pocket. Finally for Option A, you are looking at forking out $3,500.00 (maximum) for each insurance period.

Hope the above clarifies.

 

[RSKeisuke]

Deductible is the initial amount you need to pay for claim(s) made in a policy year. The deductible is only required to be accumulated once in a policy year.

The applicable deductible would be determined by the type of ward/hospital during the admission. For example,
Private Hospital/Restructured Hospital A Ward - $3,500.00
Restructured Hospital B1 Ward - $2,500.00
Restructured Hospital B2 Ward - $2,000.00
Restructured Hospital C Ward - $1,500.00

There are of course different deductibles for day surgery dependable on different insurers.

Co-payment refers to the percentage of the bill that you need to pay on the portion of the bill above the deductible.

For example, should you have opted in a Government Hospital, A Ward:
Hospital Bill Size: $10,000.00
Less Deductible: $3,500.00
Net Amount: $6,500.00
Less Co-insurance (10%): $650.00
Net Payable from insurance company: $5,850.00

Therefore if you are looking at purchasing the private integrated plan (basic), the amount that you would have to fork out on your own would be $4,150.00. Should you be looking at Option C coverage, $0 would be out from your pocket. Finally for Option A, you are looking at forking out $3,500.00 (maximum) for each insurance period.

Hope the above clarifies.

That's very helpful. Thanks for the clarifications!

 

[joasky]

That's very helpful. Thanks for the clarifications!

No worries. If you need any help, can just PM me.

Cheers