Enhancing your ElderShield?

[akwl88]

The automatic covered do not need medical underwriting at age 40?

Think like medishield life except can opt out?

 

[windwaver]

Hey guys, anybody here have data on how much nursing homes charge (subsidized, private)?

In more serious cases, how much does it cost to hire a medical professional to take care of senior folks?

 

[FP_IFA]

The automatic covered do not need medical underwriting at age 40?

No need. But if opt out and then reapply, you would need to declare health.

 

[soneat]

The automatic covered do not need medical underwriting at age 40?

I recall very simple form of underwriting, if you do not have existing ADLs, you dont have to reply or fill up any form and will be auto opt-in

 

[xiao.xin]

The automatic covered do not need medical underwriting at age 40?

This one actually quite important. Theoretically you're suppose to indicate if you have any medical condition when you turn 40 years old. It is together with all the booklet that MOH send you about Eldershield.

Theoretically if you didn't declare, it is possible that the insurer can choose not to issue the benefit. But I haven't seen the case.

Sent from BlackBerry STH100-2 using GAGT

 

[xiao.xin]

Hey guys, anybody here have data on how much nursing homes charge (subsidized, private)?

In more serious cases, how much does it cost to hire a medical professional to take care of senior folks?

Not sure, but have 2 clients that mentioned before one is a subsidised which mentioned need to top up a bit after Eldershield claim that would be around 400-500? Then the other one 800-1000 in private nursing home.

To hire Medical profession I would think that it will be around the rate of a nurse pay? Which would come out to around 2000/mth?

Sent from BlackBerry STH100-2 using GAGT

 

[MikeZhang]

I can use the medisave money to pay for outpatient treatment / day surgery for illnesses that one is certain to get in old age.

I can also use to medisave to co-pay hospital bills if I do not have a full rider on my integrated plan.

Why should I use medisave money to pay for an insurance policy that is very hard to claim against. In wheelchair, cannot walk, also cannot claim. And when you finally can claim, its $400 for 6 years? My dividend portfolio will give cash for life and I can pass the shares onto my next of kin.

There is a limited for each medical bill that you can use from your Medisave. For instance, recently my Neighbour just had a day surgery and the bills came out to be $6,000. And he was able the use up to $2,000 for that bill and remaining have to pay cash.

 

[mSnooze]

Hey guys, anybody here have data on how much nursing homes charge (subsidized, private)?

In more serious cases, how much does it cost to hire a medical professional to take care of senior folks?

If i am not wrong normal nursing home can charge up to $3k+ a month before subsidy.

Professional home caretaker should be around 1k~, depending on grade.

 

[windwaver]

Not sure, but have 2 clients that mentioned before one is a subsidised which mentioned need to top up a bit after Eldershield claim that would be around 400-500? Then the other one 800-1000 in private nursing home.

To hire Medical profession I would think that it will be around the rate of a nurse pay? Which would come out to around 2000/mth?

Hi xiao.xin, how do old folks apply for subsidized nursing home? You mean top up $400 to $500 after Eldershield claim of $400?

Think I can't afford to hire a medical professional.

If i am not wrong normal nursing home can charge up to $3k+ a month before subsidy.

Professional home caretaker should be around 1k~, depending on grade.

Nursing home more expensive than home care taker?

 

[bankingnerd]

It doesn't make sense to pay an insurer to insure against an event that I can self-insure. That is why I don't insure my handphone even though there is handphone insurance. Self insurance is cheaper for the dividend investor. Like I said, have to evaluate the success of your investments at age 40. If your investments not going too well, then buy the eldershield. If you are hitting your dividend target, then no need.




I can use the medisave money to pay for outpatient treatment / day surgery for illnesses that one is certain to get in old age.

I can also use to medisave to co-pay hospital bills if I do not have a full rider on my integrated plan.

Why should I use medisave money to pay for an insurance policy that is very hard to claim against. In wheelchair, cannot walk, also cannot claim. And when you finally can claim, its $400 for 6 years? My dividend portfolio will give cash for life and I can pass the shares onto my next of kin.

limster i think you have been drinking too much to type such a response.

you dont buy HP insurance because you need to fork out money and a phone is essentially just a phone. eldershield enhancement can be paid using the interest inside your medisave if you have enough money inside. furthermore medishield is in essence locked up and cant be drawn out as cash. When you are half dead and in a wheelchair I think every cent helps dont you agree?

and also I understand a lot of us have dividend portfolios. that being said unless I can use my medishield to buy a dividend paying investment to add to my portfolio, Im not sure if there should any comparison between the 2

no one is saying buy eldershield enhancement and deduct the amount spent from your existing dividend portfolio. its 2 different things altogether.

 

[limster]

limster i think you have been drinking too much to type such a response.

you dont buy HP insurance because you need to fork out money and a phone is essentially just a phone. eldershield enhancement can be paid using the interest inside your medisave if you have enough money inside. furthermore medishield is in essence locked up and cant be drawn out as cash. When you are half dead and in a wheelchair I think every cent helps dont you agree?

and also I understand a lot of us have dividend portfolios. that being said unless I can use my medishield to buy a dividend paying investment to add to my portfolio, Im not sure if there should any comparison between the 2

no one is saying buy eldershield enhancement and deduct the amount spent from your existing dividend portfolio. its 2 different things altogether.

Typical insurance agent talk to say that since the money is locked up, might as well give it to the insurance company and the agent.

Being in a wheelchair is not enough to claim eldershield. That and the small amount of temporary coverage makes it best to self-insure. Like I said, at age 40, you will know whether you need to buy insurance or whether you can self-insure through your dividend portfolio.

https://www.moh.gov.sg/content/moh_...2004/4_reasons_to_opt_out_of_ElderShield.html

 

[bankingnerd]

Typical insurance agent talk to say that since the money is locked up, might as well give it to the insurance company and the agent.

Being in a wheelchair is not enough to claim eldershield. That and the small amount of temporary coverage makes it best to self-insure. Like I said, at age 40, you will know whether you need to buy insurance or whether you can self-insure through your dividend portfolio.

https://www.moh.gov.sg/content/moh_...2004/4_reasons_to_opt_out_of_ElderShield.html

its not typical insurance talk. I have said that there is nothing wrong to self insuring. but for the money that you cant touch, it doesnt hurt getting more coverage. it is not mutually exclusive as you seem to be suggesting.

i think a lot of us in here have made loads of money before and also have lost money at times. i wouldnt say any amount of money is small money when pushed against the wall. its after all still money.

 

[windwaver]

Hi xiao.xin, how do old folks apply for subsidized nursing home? You mean top up $400 to $500 after Eldershield claim of $400?

Think I can't afford to hire a medical professional.



Nursing home more expensive than home care taker?

 

[Opps-gal]

After adding up all the premium to pay years down the road...about $10K ++ Have not even enhance the shield. So expensive.

 

[windwaver]

After adding up all the premium to pay years down the road...about $10K ++ Have not even enhance the shield. So expensive.

That's why I am asking if it's necessary to upgrade eldershield.