IncomeShield Preferred Advantage or Basic which is yours?

[articland05]

moi ish preferred but the premium quite high when older...
thinking maybe downgrade a notch to advantage better

what abt u all?

 

[70niner]

for shield plans, can consider premium plan when young then switch to cheaper plan when older

 

[hongge]

From the Income premium table at age 61, MedishieldLife + Income preferred shield plan premium is $2,829 per annum ($1.039 + 1,790). Medisave can deduct full $1,039 for MedishieldLife and an additional $600 for private shield plan. so the cash outlay is $1,190 per annum after Medisave deduction.

If paying $1000 cash for shield plan is too expensive at age 61, then downgrade to advantage plan. the yearly premium will be $1,609 ($1,039+570) which is less than Medisave withdrawal limit ($1,039+$600). No cash outlay till at a later age.

 

[articland05]

ya lor....quite chor leh
now moi 42 alrdy feeling the pinch

for shield plans, can consider premium plan when young then switch to cheaper plan when older

From the Income premium table at age 61, MedishieldLife + Income preferred shield plan premium is $2,829 per annum ($1.039 + 1,790). Medisave can deduct full $1,039 for MedishieldLife and an additional $600 for private shield plan. so the cash outlay is $1,190 per annum after Medisave deduction.

If paying $1000 cash for shield plan is too expensive at age 61, then downgrade to advantage plan. the yearly premium will be $1,609 ($1,039+570) which is less than Medisave withdrawal limit ($1,039+$600). No cash outlay till at a later age.

 

[rizhal]

May I know what is good about upgrading to private Shield plan ?

(I only have government Shield plan, I am happy to be warded in B2/C, please educate me, thanks)

 

[articland05]

May I know what is good about upgrading to private Shield plan ?

(I only have government Shield plan, I am happy to be warded in B2/C, please educate me, thanks)

private plan is as charged with high annual cap (500k for Advantage plan).
medisave have annual withdrawal cap.
once hit cap u must pay in cash liao


i think that's the most scary part ba

 

[skylink67]

But when u consider a surgery and stay costing at least 50k. The premium you paid already earn back. Go for basic if u cannot pay bah.

 

[arphamdb89]

Mine is also preferred also thought of downgrading.

 

[articland05]

But when u consider a surgery and stay costing at least 50k. The premium you paid already earn back. Go for basic if u cannot pay bah.

hmm i wonder shld drop all the way to Basic or not...for moi, if in doubt just pick the middle ground safest.

moi scare regret then wanna upgrade again is difficult...need checkup etc

 

[hongge]

hmm i wonder shld drop all the way to Basic or not...for moi, if in doubt just pick the middle ground safest.

moi scare regret then wanna upgrade again is difficult...need checkup etc

Are you paying the premium in cash or using Medisave to pay?

Most people at 42yo should be able to accumulate Medisave to $71,500 capping already. This is sufficient for the shield plan premium deduction for many years and will be top-up again at year-end when Medisave yearly interest is credited in.

I feel it is too early to downgrade to lower plan unless you are paying by cash.

 

[kage]

Any integrated shield plan to intro??

 

[bombshell]

Downgrade as you grow older lor.
But income only got 100 days pre and post hospitalisation coverage. Most others give 365 days.

100 days some treatment/rehab haven't finish leh.

 

[airman88]

Mine is Enhanced Incomeshield Preferred and it costs 4k now
I am 60 years old now and wonder if I should downgrade

 

[airman88]

Downgrade as you grow older lor.
But income only got 100 days pre and post hospitalisation coverage. Most others give 365 days.

100 days some treatment/rehab haven't finish leh.

100 days is for non panel doctors and 365 days for panel doctors

 

[bombshell]

100 days is for non panel doctors and 365 days for panel doctors

Only preferred, see how long u can tong the premiums.

 

[bombshell]

And pte specialist no queue, 100 days usually enough to complete treatment.
Govt hosp is the one with long queues to make specialist appts, 365 day coverage more useful.

 

[KOPS1974]

moi ish preferred but the premium quite high when older...
thinking maybe downgrade a notch to advantage better

what abt u all?

Same as you (cannot than the premium), me just downgraded to advantage... don't I think will go pte hospital as consultation and medicine also expensive.

Been doing colonoscopy in pte clinic and using the Preferred plan.
Now downgrade already, so next time I guess I will got gov hospital else go pte have to pay the pro-rate

 

[Nicholas92]

Mine is “Enhanced Advantage”

If never recall wrongly - I think I went for the middle one. Not the basic but also not the most expensive.

 

[F3Rm1nat0r]

Same as you (cannot than the premium), me just downgraded to advantage... don't I think will go pte hospital as consultation and medicine also expensive.
Been doing colonoscopy in pte clinic and using the Preferred plan.
Now downgrade already, so next time I guess I will got gov hospital else go pte have to pay the pro-rate

If I am not mistaken, when you downgrade or change the plan, you need to declare pre-existing conditions, and the insurer can choose not to cover those


Sent from Buhuhahahahaha

 

[KOPS1974]

If I am not mistaken, when you downgrade or change the plan, you need to declare pre-existing conditions, and the insurer can choose not to cover those


Sent from Buhuhahahahaha

I went to one of the NTUC lite branch and they help me to downgrade. Think is can downgrade but next time if want to upgrade then have to do check up (if not wrong)