Healthshield for parents

[windwaver]

Anybody with parents in their 60s with only basic medishield life?

What is a good way to get them covered for shield plans?

 

[IFA_Advisor]

First thing first is that are they healthy?

If not healthy, go for Aviva moratorium underwriting

If Healthy,

Then choose the rest based on your affordability..
Private wards plan will continue to increase as the insurer are combating medical inflation
Government wards, A if you prefer your own doctor and faster appointment dates
B1 if you want more subsidy and willing to wait for medical treatment.

NTUC is lowest now but going to increase their prices in Oct
Axa is newest.. boasting 1mil cover.. the 180 pre and 365 post hospitalisation will be very attractive cover.

 

[akwl88]

Anybody with parents in their 60s with only basic medishield life?

What is a good way to get them covered for shield plans?

are you gg to pay for their shield plans? or they are self-sufficient?

 

[windwaver]

are you gg to pay for their shield plans? or they are self-sufficient?

I am paying for my parents.

First thing first is that are they healthy?

If not healthy, go for Aviva moratorium underwriting

If Healthy,

Then choose the rest based on your affordability..
Private wards plan will continue to increase as the insurer are combating medical inflation
Government wards, A if you prefer your own doctor and faster appointment dates
B1 if you want more subsidy and willing to wait for medical treatment.

NTUC is lowest now but going to increase their prices in Oct
Axa is newest.. boasting 1mil cover.. the 180 pre and 365 post hospitalisation will be very attractive cover.

So lowest is NTUC with Enhanced IncomeShield with Plus Rider?

I am looking at Restructured Hospital (A ward) with rider, if it gets expensive once they get older into their 70s, will drop to Restructured Hospital (B1 ward) with rider (why some insurer don't have rider for B1 ward?).

I noticed all the rest of the insurers charge very high for Private Hospital except NTUC (can't afford for both parent). Is there anything I am missing?

Is that something I can get for my parents with least financial burden?

Thank you everybody .

 

[henrylbh]

I am paying for my parents.



So lowest is NTUC with Enhanced IncomeShield with Plus Rider?

I am looking at Restructured Hospital (A ward) with rider, if it gets expensive once they get older into their 70s, will drop to Restructured Hospital (B1 ward) with rider (why some insurer don't have rider for B1 ward?).

I noticed all the rest of the insurers charge very high for Private Hospital except NTUC (can't afford for both parent). Is there anything I am missing?

Is that something I can get for my parents with least financial burden?

Thank you everybody .

Premium with rider may still be affordable for B1 when they are in 60s. It's definitely gets higher till it becomes unaffordable at the age you need it most. For B1, the premium with rider can go as high as 7k to 8k or more in years to come. If you pick ward A or private, the premium will be even more.

Too bad I can't afford any for my father who is 89yo. Luckily got medishield life.

 

[akwl88]

see whether you can afford the premiums

medishield life premiums after 75 yrs old is alr more than 1k

 

[henrylbh]

see whether you can afford the premiums

medishield life premiums after 75 yrs old is alr more than 1k

With rider plus, already more than 1.5k in the 60s band for ward B1.

 

[YuoriFighter]

Hi, may i know if i wana upgrade my mum (61yo) plan from basic medishield plan to higher eg. B? & add rider.

How much will it cost & need medical check up?

Who bear the medical check up cost? The insured agency or self?

Thank you.

 

[gunsol90]

Hi, may i know if i wana upgrade my mum (61yo) plan from basic medishield plan to higher eg. B? & add rider.

How much will it cost & need medical check up?

Who bear the medical check up cost? The insured agency or self?

Thank you.

Diff Insurers Diff Premiums, and depends on whether you want cover till Govt Hosp B1, A or including Private Hospitals. The premiums can be found in each insurers' websites. (now cheaper don't mean in future also cheaper, because hosp plans premiums keep getting revised depending on claims rates)

You bear the medical check up cost. Insurance companies will only bear the cost if policyholders buy non-accident and health policies.

I'm in GE personally, so I bought GE Hosp plan for my mum.

 

[YuoriFighter]

Diff Insurers Diff Premiums, and depends on whether you want cover till Govt Hosp B1, A or including Private Hospitals. The premiums can be found in each insurers' websites. (now cheaper don't mean in future also cheaper, because hosp plans premiums keep getting revised depending on claims rates)

You bear the medical check up cost. Insurance companies will only bear the cost if policyholders buy non-accident and health policies.

I'm in GE personally, so I bought GE Hosp plan for my mum.

Thank you very much for sharing.

 

[YuoriFighter]

One more thing to note.

For IP, the maximum entry age is 75. The only exception is the recently launched Standard Plan which has no age limit.

Hope this helps.

Thanks. So u r an agent from ntuc?
IP is Integrated Plan?
I will prefer govt hospital if upgrade & add on rider. Can tel me how much per annum + add rider & requires medical check up? Thks.

 

[henrylbh]

May I know what is 'or $xxx' for? Thanks.

 

[HWZ1973]

Not fair to say NTUC as cheapest as I think their coverage lesser than other insurers.
You pay less you get less benefits.

 

[YuoriFighter]

Based on 61 years old female, here are the premiums for NTUC Enhanced Incomeshield Basic and Advantage with Assist/Plus Rider.

Basic (Up to B1) w/Assist or Plus Rider
Yearly @ *$1063+ $296 or $408

Advantage (Up to A1) w/Assist or Plus Rider
Yearly @ **$1358 + $402 or $634

*Medisave
** Include $3 cash

As to whether she requires a medical check up will depend on how she declare her health status on her application form. Most of the time she will need to bear her own cost of obtaining her medical records. Sometimes the underwriters will require her to do a medical check at the insurer's expenses. So it depends.

Hope this helps.

So if i chose this,

Basic (Up to B1) w/Assist or Plus Rider
Yearly @ *$1063+ $296 or $408

means will deduct my medisave yearly $1063 (paying for my mum) + cash of either $296 or $408 rite?
$408 more coverage rite?

As for medical checkup, will the agency provide their panel of doctors & what inform what to be checked?
If not, later we spent & provide a general check up report, the underwriter say insufficient than have to do again?

 

[windwaver]

Not fair to say NTUC as cheapest as I think their coverage lesser than other insurers.
You pay less you get less benefits.

Less benefits in what way?

Very glad that TS is thinking of your parents.

Some younger clients I met think it's none of their business and refused to insure their parents with a good medical plan when they're still able to do so.

When s*h*i*t hits the fan, they kpkb about how their parents' medical bills wiped out their savings significantly.

You mean there are children that leave their parents to die?

Based on 61 years old female, here are the premiums for NTUC Enhanced Incomeshield Basic and Advantage with Assist/Plus Rider.

Basic (Up to B1) w/Assist or Plus Rider
Yearly @ *$1063+ $296 or $408

Advantage (Up to A1) w/Assist or Plus Rider
Yearly @ **$1358 + $402 or $634

*Medisave
** Include $3 cash

As to whether she requires a medical check up will depend on how she declare her health status on her application form. Most of the time she will need to bear her own cost of obtaining her medical records. Sometimes the underwriters will require her to do a medical check at the insurer's expenses. So it depends.

Hope this helps.

Hi ntucagent, is it true that only NTUC has B1 with rider to offset deductibles and co-insurance? I don't see it in other insurance companies.

 

[HWZ1973]

Less benefits in what way?

Eg, NTUC covers 90 days pre and post hospitalisation, whereas other insurers cover 180 days or more... So really need to look into details of the policies before deciding, cannot compare how cheap the plan is.

 

[windwaver]

So if i chose this,

Basic (Up to B1) w/Assist or Plus Rider
Yearly @ *$1063+ $296 or $408

means will deduct my medisave yearly $1063 (paying for my mum) + cash of either $296 or $408 rite?
$408 more coverage rite?

From what I know, this is how it goes.

61-65 $755+$308+$408(Plus Rider)=$1471.

Out of this $1471, $755+$308=$1063 comes solely from Medishield because withdrawal limits for that age group is $600 so no need cash for Basic shield. However, if we go up to Restructured Hospital A1, we will need to pay an extra cash of $3 because NTUC charges $603 for that coverage. Frankly, might as well get that for your mum until she turns 66.

Rider of $408 will come from cash.

 

[windwaver]

Eg, NTUC covers 90 days pre and post hospitalisation, whereas other insurers cover 180 days or more... So really need to look into details of the policies before deciding, cannot compare how cheap the plan is.

AIA cover 100 days pre/post but cost much more. What else is NTUC missing?

 

[windwaver]

Although pre and post hospitalization treatments are major considerations, there are other smaller details to take note as well.

Example:

Final expenses
- One of the highest in the market at $5k. Aviva is lowest at $1k.

Prosthesis Benefits
- Up to $10k benefits per policy year. The only other insurer that has this benefit is Prudential at $3k per policy year.

It's almost impossible to do an apple-to-apple comparison among the insurers. Each of them have their own unique pros and cons.

More importantly is you must put your money where your greatest concerns are.

Agree but there are some that are plain expensive like AIA. How many here are on AIA medishield?

 

[windwaver]

You will be surprised when it comes to finance, how family ties can be strained.

So far, NTUC Income, GE and AXA have some forms of riders that can be attached to their Standard Plan. Do check out with your friendly agents for more details.

Thanks for the information (think Aviva also has B1 rider to cover co-insurance and deductibles) but correct me if I am wrong.

It seems that only AIA and Prudential doesn't have plans for B1 wards to offset co-insurance and deductibles right?