Getting fed up with AIA Medishield

[highsulphur]

1) Keeps increasing premiums every year
2) Refuse to apply the AIA Vitality discount to old members but only to new applicants for their Medishield plan. This is despite them sending out letters to policy holders that they may get discount for their plans if they join the Vitality program.

Are other Medishield providers any better? Or at the very least be fair to existing and new policy holders.

Thinking of switching but worried about portability. Government should allow for portability of Medishield policies so that policy holders are not held hostage by each provider.

 

[BBCWatcher]

1) Keeps increasing premiums every year

That's inevitable, particularly if you have a plan that covers privately provided medical care. Medical inflation is real, plus premiums rise as you age. Combine both factors, and you're going to face rising premiums -- that's just how it goes.

Thinking of switching but worried about portability.

Yes, if you switch carriers then any/all pre-existing conditions prior to the switch will not be covered. Moreover, if you switch to a similar plan with similar (or possibly better) coverage terms, you'll only save a little on your premium. Premiums will also increase with that other plan. You'll drop down once, a bit, then premiums will gallop forward from there.

If you really want to reduce premiums in a serious way then the only viable option is to contact AIA and downgrade to a lower level plan -- and confirm that AIA will not reset your pre-existing condition clock. For example, if you have an AIA plan that covers private hospital care, then you could switch to AIA HealthShield Gold Max B or B Lite which cover public hospital care (up to A ward or up to B1 ward, respectively).

 

[Mecisteus]

If your switch is not successful, you will remain with AIA. This what I understand.

 

[JuniorLion]

1) Keeps increasing premiums every year
2) Refuse to apply the AIA Vitality discount to old members but only to new applicants for their Medishield plan. This is despite them sending out letters to policy holders that they may get discount for their plans if they join the Vitality program.

Are other Medishield providers any better? Or at the very least be fair to existing and new policy holders.

Thinking of switching but worried about portability. Government should allow for portability of Medishield policies so that policy holders are not held hostage by each provider.

Switch will certainly be successful but they may have exclusions if you developed certain conditions.

 

[BBCWatcher]

If your switch is not successful, you will remain with AIA. This what I understand.

Yes, but that's not actually too helpful because of what JuniorLion just described. The good news might be that another carrier agreed to underwrite you. The bad news is that any/all pre-existing conditions that existed prior to the start date with the new carrier are excluded from coverage....

....And it doesn't matter, really. You're going to save a few bucks, maybe, and then the premiums will escalate from there. There's absolutely no guarantee that the premiums won't escalate faster with the new carrier. It's entirely possible to save a few dollars in the first year but then spend even more dollars the following year. You're chasing a unicorn, really. Plus your pre-existing condition exclusion date resets.

The only real solution to reduce premiums reliably, and for the long term, is to downgrade coverage -- to move from private hospital coverage to public hospital coverage, notably. Public hospital care has been tracking a much lower medical inflation rate, and the premiums reflect that reality, as they must in due course. More expensive medical care is more expensive -- sorry about that. If you want to buy the more expensive care and can afford it, great, go for it.

 

[redglue23]

Eh, TS you have some pre-existing medical conditions that you've declared right?

It sucks but the insurers obviously will dangle less carrot to those with pre-existing medical conditions.

In fact, they would prefer to offload those with pre-existing medical conditions if possible by increasing premiums with no discounts given. It's all about managing their claims pool.