MediShield Life (end 2015)

[badsector]

Currently i have 2 plan on:
1. Aviva My Shield Plus
2. AXA HealthPro Growth


With the coming MediShield Life, Does it mean i should terminate AXA HeathPro Growth?
Was actually thinking of switching to term plan...
What do you guys think?

 

[Lifeessentials]

Medishield Life doesn't offer Critical Illness payouts, Death and TPD coverage and no accumulation of cash value. What was your original objective in getting this Healthpro Growth plan? It is a limited payment plan. How many years have you been on it?

 

[kebinu]

No matter what situation, I encourage one to buy only term plan for coverage.

Excess money can do easy DIY.

 

[badsector]

Medishield Life doesn't offer Critical Illness payouts, Death and TPD coverage and no accumulation of cash value. What was your original objective in getting this Healthpro Growth plan? It is a limited payment plan. How many years have you been on it?

sign up Healthpro Growth plan for a yr only.

i'm single. so i think critical illness more important to me.

 

[knightdreamer]

when will government released the info?

 

[twinklingstars]

Will cancer, diabetes patients etc be covered?

 

[Lewis.T]

Hi guys, here's an update for all of you.

http://www.channelnewsasia.com/blob/1213760/1403843220000/medishield-life-monthly-data.jpg

 

[lzydata]

Hi guys, here's an update for all of you.

http://www.channelnewsasia.com/blob/1213760/1403843220000/medishield-life-monthly-data.jpg

And the table for premiums in 2019:

MediShield Life: How much will you pay? - Channel NewsAsia

I got to say, the premium increase in 2015 is still manageable - because of subsidies, the premiums for low-income 74-year-olds and above are actually lower (!) - but the estimated full premiums without subsidies in 2019 are a hefty increase above status quo. Mine is almost as high as what I am paying now for my integrated shield plan plus rider, and that's an as-charged plan whereas Medishield Life is not.

We have to see how the insurance companies adjust their policies and riders, as well as the premiums for them. I think this thread is just heating up

 

[highsulphur]

Those with several children will be jia lat. Each child's premium per year will be $130.....

 

[highsulphur]

There is so much half truth that was not mentioned...

Do you guys know the AV of the houses are actually used to calculate how much subsidy you will get? Even if your income is zero but the AV of your home is >21,000, you will automatically be considered as the highest tier group. Its only if your AV is less than $13,000 will you get the full subsidy.

 

[Lewis.T]

There is so much half truth that was not mentioned...

Do you guys know the AV of the houses are actually used to calculate how much subsidy you will get? Even if your income is zero but the AV of your home is >21,000, you will automatically be considered as the highest tier group. Its only if your AV is less than $13,000 will you get the full subsidy.

Interesting, where did you get that info from?

 

[knightdreamer]

There is so much half truth that was not mentioned...

Do you guys know the AV of the houses are actually used to calculate how much subsidy you will get? Even if your income is zero but the AV of your home is >21,000, you will automatically be considered as the highest tier group. Its only if your AV is less than $13,000 will you get the full subsidy.

what is AV??

 

[highsulphur]

Interesting, where did you get that info from?

Go play around with the calculator provided.

 

[highsulphur]

what is AV??

Annual value...

 

[lzydata]

There is so much half truth that was not mentioned...

Do you guys know the AV of the houses are actually used to calculate how much subsidy you will get? Even if your income is zero but the AV of your home is >21,000, you will automatically be considered as the highest tier group. Its only if your AV is less than $13,000 will you get the full subsidy.

Fair enough. Not sure if this is in the news but it's all in the committee report:

(a)These subsidy rates are applicable to Singapore Citizens who live in residences with an Annual Value of $13,000 or less. Those with an Annual Value between $13,101 to $21,000 will receive 10 percentage points less than these subsidy rates. Those with an Annual Value of above $21,000 will not receive these subsidies. (b) Permanent Residents receive half of the subsidy rates applicable to Singapore Citizens.

So the maximum premium hike will be to those who live in private housing and are older but not yet 65 this year (= not Pioneer Generation). However, although there is no subsidy for them, premiums will still be phased in over 5 years - see the High Income column in the premium tables.

 

[highsulphur]

Fair enough. Not sure if this is in the news but it's all in the committee report:



So the maximum premium hike will be to those who live in private housing and are older but not yet 65 this year (= not Pioneer Generation). However, although there is no subsidy for them, premiums will still be phased in over 5 years - see the High Income column in the premium tables.

Yup... Guess who this class of voters is going to vote for in 2016. Mind you its a big group

 

[knightdreamer]

anyone think of give up your ISP private insurance?

 

[highsulphur]

anyone think of give up your ISP private insurance?

No point rushing until more information is given how the ip will change after Medishield Life is implemented

 

[Lewis.T]

anyone think of give up your ISP private insurance?

Don't do that. The coverage is not as comprehensive as an integrated shield plan. There will still be out of pocket payments even with Medishield Life. They also don't cover for pre and post hospitalization benefits.

 

[Izumi8]

So 13k annual value apply to 5 room flat and below? Any public list to check the annual value for each type of housing?