Changing Integrated Shield Plan Provider

[LingBit]

Hello, if I am currently under Prudential (also bought the rider) and would like to change to NTUC, are there any things that I have to take note before making a change?

Was thinking of changing as the premium for NTUC is cheaper as compared to the rest of the companies, when my age gets older. Although NTUC does not have the best coverage, but in the long run, it will still be more affordable.

Thanks!

 

[xiao.xin]

Your current health condition is the only thing you'll need to take note. Also, I do believe you'll need to cancel the cash rider portion for Pru yourselves. The medisave portion will be refunded fully to you.

Ntuc has 2 types of cash rider. One is cover fully the other only cover co-insurance. Do make youre covered under what you want to be covered.

 

[xiao.xin]

Correction, medisave portion will be refunded prorated to the day the next shield plan starts

 

[unhinged_loon]

If you switch, note that there is a time period before the new plan kicks in. Take note!

 

[BBCWatcher]

Bear in mind there's no guarantee NTUC Income will continue to have lower premiums than Prudential. Insurance carriers can adjust their premiums. Moreover, there's a preexisting condition reset when you hop to another carrier. "Preexisting condition" is somewhat broader than "a condition known to you before policy enrollment."

 

[LingBit]

Thank you for all the advice! Will take note of them before making any changes.

 

[crimsontactics]

Also NTUC no agent.

You fall sick, must be willing to do claim yourself.

I'm a Ntuc shield plan customer.

Sent from OPPO F1s using GAGT

 

[LingBit]

Also NTUC no agent.

You fall sick, must be willing to do claim yourself.

I'm a Ntuc shield plan customer.

Sent from OPPO F1s using GAGT

Hello, yup understand that actually agents are of not much help in the claiming. Went down to ntuc income to find out more, and they mentioned that most of the public hospitals are able to check from the system already, so don't really need to call for the letter of guarantee. If anything, just need to call their hotline.

 

[crimsontactics]

Hello, yup understand that actually agents are of not much help in the claiming. Went down to ntuc income to find out more, and they mentioned that most of the public hospitals are able to check from the system already, so don't really need to call for the letter of guarantee. If anything, just need to call their hotline.

Dunno.

Never claim before.

I choose NTUC because cheapest.

Sent from OPPO F1s using GAGT

 

[xiao.xin]

Hello, yup understand that actually agents are of not much help in the claiming. Went down to ntuc income to find out more, and they mentioned that most of the public hospitals are able to check from the system already, so don't really need to call for the letter of guarantee. If anything, just need to call their hotline.

I have differing opinion from the cs officer. Firstly LOG are obtained if there is a planned surgery to prevent the patient from forking out the money up front. Even if the hospital know that you've a shield plan, they will still ask you to pay first before filing a claim with your insurer. So LOG is still useful in a way.

Also, they've failed to mentioned about the claims arises from the pre and post hospitalization which you'll need to file it yourself.

 

[LingBit]

I have differing opinion from the cs officer. Firstly LOG are obtained if there is a planned surgery to prevent the patient from forking out the money up front. Even if the hospital know that you've a shield plan, they will still ask you to pay first before filing a claim with your insurer. So LOG is still useful in a way.

Also, they've failed to mentioned about the claims arises from the pre and post hospitalization which you'll need to file it yourself.

I didn't know that.. From what the person mentioned, the hospital (most public ones, some private ones still can't) is able to check through their system and claim directly from ntuc income. So I do not even need to call them.

Hmm, so for the hospitalisation part, I still need to call for the LOG and for pre and post hospitalisation, I will need to pay first before filing a claim?

Would you be able to advise whether it is the same for all insurance companies? Or just for ntuc income? Thanks!

 

[akwl88]

Nov 15, 2015 at 9:33am me200, candy188, and 1 more like this
Reply
Quote
Post Options
Post by oldman on Nov 15, 2015 at 9:33am
As I am now a consumer of healthcare insurance, what I am learning about insurance companies scares me even more. I was in hospital for a few weeks in Oct and chalked up a bill of well over $100,000, which I had to pay out of my own pocket first. I blamed the hospital for being too kiasu by getting money from me first.

Then, a letter from the insurance company arrived and stating that they will not be paying anything until my oncologist replies to their list of questions. The insurance company tells that this process can easily take another 10 weeks! I then called my oncologist who kindly filled up the list of questionaire and sent it back to the insurance company. Let me see whether the insurance company finds other ways of dragging its feet.

Of course no one wants to stay in hospital for a few weeks unless he is very sick! Glad to say, I am now on the road to recovery ... but have still to sort out these insurance issues which I previously thought will be transparent to me. How wrong I was!

For those with private health insurance cover, be aware.... your policy may require you to have a few hundred thousand dollars sitting idle in the bank..... yes, this is not mentioned even in the fine print and certainly will not be mentioned by your insurance agent!

At best, if you have private healthcare insurance and intend to make use of the private hospitals or approved clinics, you should view your insurance plan as a reimbursement plan.... you have to pay upfront first and your insurance company hopefully will pay you back ( yes, there will be clauses in your insurance plan to allow them the flexibility of reviewing all charges before paying you back). Payback time is also up to the insurance company.
Last Edit: Dec 12, 2015 at 10:20am by oldman
© Pertama.com

 

[LingBit]

Nov 15, 2015 at 9:33am me200, candy188, and 1 more like this
Reply
Quote
Post Options
Post by oldman on Nov 15, 2015 at 9:33am
As I am now a consumer of healthcare insurance, what I am learning about insurance companies scares me even more. I was in hospital for a few weeks in Oct and chalked up a bill of well over $100,000, which I had to pay out of my own pocket first. I blamed the hospital for being too kiasu by getting money from me first.

Then, a letter from the insurance company arrived and stating that they will not be paying anything until my oncologist replies to their list of questions. The insurance company tells that this process can easily take another 10 weeks! I then called my oncologist who kindly filled up the list of questionaire and sent it back to the insurance company. Let me see whether the insurance company finds other ways of dragging its feet.

Of course no one wants to stay in hospital for a few weeks unless he is very sick! Glad to say, I am now on the road to recovery ... but have still to sort out these insurance issues which I previously thought will be transparent to me. How wrong I was!

For those with private health insurance cover, be aware.... your policy may require you to have a few hundred thousand dollars sitting idle in the bank..... yes, this is not mentioned even in the fine print and certainly will not be mentioned by your insurance agent!

At best, if you have private healthcare insurance and intend to make use of the private hospitals or approved clinics, you should view your insurance plan as a reimbursement plan.... you have to pay upfront first and your insurance company hopefully will pay you back ( yes, there will be clauses in your insurance plan to allow them the flexibility of reviewing all charges before paying you back). Payback time is also up to the insurance company.
Last Edit: Dec 12, 2015 at 10:20am by oldman
© Pertama.com

Hmmm... this is bad... But the integrated shield plan is still one of the important insurance to get right?

 

[akwl88]

Hmmm... this is bad... But the integrated shield plan is still one of the important insurance to get right?

Yes hosp plan aka integrated shield plan is impt

But pte or public hosp is up to ur needs

 

[xiao.xin]

I didn't know that.. From what the person mentioned, the hospital (most public ones, some private ones still can't) is able to check through their system and claim directly from ntuc income. So I do not even need to call them.

Hmm, so for the hospitalisation part, I still need to call for the LOG and for pre and post hospitalisation, I will need to pay first before filing a claim?

Would you be able to advise whether it is the same for all insurance companies? Or just for ntuc income? Thanks!

Yes, LOG will still need to be obtained if you do not want to pay upfront before making claims with the insurer. For pre and post is almost certain that you need to pay upfront before making claims.

I do believe it is the same across all the company for govt hosp. Whereas for private hospital, some insurer do have their own panel specialist which can help you with pre authorization for claim before surgery. Meaning you don't have to pay anything for the procedures as the insurer will settle directly with the hospital.

 

[kevinkoh1992]

Yes hosp plan aka integrated shield plan is impt

But pte or public hosp is up to ur needs

Just a related qn, for the frequently cited reason to get pte due to faster appointments. Are public hosp slow with the appointment due to lack of doctors or lack of lower class beds?

i.e. if i select class A hosp bed, i can get the appointment sooner as compared to class B1 or B2.

Sorry for noob qn, never hospitalised before here.

 

[xiao.xin]

Just a related qn, for the frequently cited reason to get pte due to faster appointments. Are public hosp slow with the appointment due to lack of doctors or lack of lower class beds?

i.e. if i select class A hosp bed, i can get the appointment sooner as compared to class B1 or B2.

Sorry for noob qn, never hospitalised before here.

I wouldn't say it is due to the lack.of doctors or beds but rather the number of people gg to govt hospital is very huge. A simple analogy is the time you spend gg to private clinic vs polyclinic.

Pte hosp has will be faster because in comparison, there are lesser people going. So usually you'll be attended faster in comparison.

Also do note that the difference is govt a ward vs b is that you'll have an option to choose the specialist/doctor.

 

[akwl88]

Just a related qn, for the frequently cited reason to get pte due to faster appointments. Are public hosp slow with the appointment due to lack of doctors or lack of lower class beds?

i.e. if i select class A hosp bed, i can get the appointment sooner as compared to class B1 or B2.

Sorry for noob qn, never hospitalised before here.

Depends on the crowd

Some of the reasons that majority pple go to public hosp - it is situated quite near neighbourhood area, there is govt subsidies for the bills

Pte hosp are expensive and without govt subsidies too. You are paying a premium for the services

Could need huge amt of cash to come out of your own pocket 1st

Therefore, evaluate your needs and affordability

 

[grinbeans]

Prudential launch their new cheaper rider yesterday so might want to contact your agent (if still alive) about it, might be within your means.

If you switch anyway, you shouldn't worry too much about the claiming process, it's all electronic nowadays and submitted by the hospital on your behalf.

I would bullsh*t about Prudential's overall claims process being the fastest and all but seriously, same day and 7 days doesn't make a difference as long as we get the money back.

 

[xxxjhxxx]

Why are agents still asking people to swtich plans? Isnt the rule of thumb to just buy 1 ISP and stick to it? Like what pple said, cheap premiums now can increase in the future. Yes, some insurers might cover less, but we have seen revision of these benefits as time passes (e.g. higher annual coverage, pre/post hosp).

And most of the ISP providers are already v established. Are there any strong reasons to switch? (Only reason i can think of are cases insurer A dun cover yr conditions but insurer B does).