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foozgarden

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Your assumption translates into "not a Permanent Resident," so let's assume that.

If your spouse could hypothetically return to his/her country, re-establish residence there, and enjoy reasonable or better medical care in that country's public medical system, with minimum fuss, then a Singapore local Integrated Shield plan could be a good fit. Spouses from many developed countries, particularly from Europe, would fit that profile. Or if your spouse is more likely than not to become a PR at some point, given enough time, then starting now with an Integrated Shield plan could make a lot of sense. However, only select Integrated Shield plans are available to foreigners, at least to "dependent" foreigners such as spouses. Prudential's PRUshield Plus, designed for public hospital A ward coverage, is one such plan, and in my view it's currently the best in its class.

NTUC Income appears to be the only carrier offering an Integrated Shield plan geared toward public hospital B1 ward coverage (Enhanced IncomeShield Basic) to foreigners. NTUC Income is also the only carrier offering an Integrated Shield plan (Enhanced IncomeShield C) geared toward public hospital B2+ ward coverage to anybody, and they do sell it to foreigners. So those are foreigners' only Integrated Shield options below public hospital A ward level. The premium gap won't be as big, though, because foreigners do not benefit as much from subsidies, and consequently Prudential might offer the best value to foreigners among the Integrated Shield plan providers. However, NTUC's "C" plan is particularly interesting if your spouse has a pre-existing condition since it's better coordinated with the ward class (B2+ or lower) that he/she would most likely check into for cost reasons. If your spouse is female, please note that KK Hospital offers B2+ ward class, which is most probably the best value hospital ward in Singapore. (It's air conditioned! But it's also KK Hospital, and they're good.)

As far as I know you can pay for your foreign spouse's base Integrated Shield plan using Medisave funds, and that's helpful because those funds are tax advantaged. Other types of medical insurance are not Medisave payable.

If you can get your spouse covered through employer-provided medical insurance of some kind, likely in combination with Integrated Shield coverage, that's great. Or if your spouse him/herself is working in Singapore and getting some employer-provided medical coverage, awesome. Employers will sometimes do something reasonably sensible and coordinate their benefits with Integrated Shield coverage.


Now we're referring to "expatriate" oriented global medical insurance, and that can be the better option particularly when your spouse doesn't hail from a country offering a minimum fuss medical "backstop" and/or when your spouse is not expecting to stay in Singapore (not likely to be a PR in due course and to stay in Singapore in the future).

I had personal experience with group Cigna coverage for several years, and I loved it. It was gorgeous insurance, and I'm sure it was rather expensive, too. (I didn't pay for it, not directly anyway.) Claims processing was a bit on the slow side, and on a reimbursement basis almost always. But it was phenomenal coverage. There were no pre-existing condition limitations, no annual or lifetime caps, no waiting periods of any kind for newborns or for a new spouse, low out-of-pocket limits for covered services, and practically everything you can imagine and more was covered. It was also U.S. "Obamacare" compliant, and that's a good thing. Aetna, another U.S. carrier, is probably broadly similar for their top shelf group coverage.

If you're approaching your spouse's coverage from the non-group angle, then pre-existing conditions matter a lot. And the tricky part about pre-existing conditions is that an insurer won't cover them for individually issued policies (with some rare exceptions), so that means you'll naturally want to stick mostly or completely with the public medical system in Singapore. However, if your spouse is quite sure he/she doesn't have pre-existing medical conditions that could affect whether a claim is paid, then an individually issued "expat" policy could make some sense, particularly if your spouse's tastes in medical care run toward private medical care, if your spouse doesn't have reasonably fuss-free resumption of good public coverage in his/her home country, or if your spouse hops around the globe fairly often anyway. Decent or better "expat" medical insurance won't be inexpensive, though, but you can get some really good stuff if you're a good risk (no pre-existing conditions).

the plethora of info you have , puts me to shame, as a local.
i didnt even know so much abt ntuc and KK .

personally, i am using cigna, as an intl worker (i dont really like to use the word expat). but thats only me. for dependents, it becomes extremely expensive, which makes no sense. the total premium for single dependent is low 4 digit( usd)
hence, i have it only for myself. i agree its awesome. the deductable is reasonable, and i get my claims aka money within 2weeks. there are also alot of clinics/hospital which are in the network worldwide, and you dont have to pay out of pocket. thats why i was wondering if bupa is the same.
i have to look deeper into ntuc to cover ..
btw, how do you buy KK hospital insurance? is this specific to KK only?
 

BBCWatcher

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btw, how do you buy KK hospital insurance? is this specific to KK only?
No, not at all. However, KK Hospital seems to be the only hospital in Singapore consistently offering B2+ ward as an option. NTUC's Enhanced IncomeShield C plan is designed to cover public hospital B2+ ward and below.

FYI, Pacific Prime has a pretty good online comparison tool for reviewing "expat" medical insurance policies.
 
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foozgarden

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No, not at all. However, KK Hospital seems to be the only hospital in Singapore consistently offering B2+ ward as an option. NTUC's Enhanced IncomeShield C plan is designed to cover public hospital B2+ ward and below.

FYI, Pacific Prime has a pretty good online comparison tool for reviewing "expat" medical insurance policies.

looking at it now.. thanks BBCW!
 

klarklar

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It is ironic that the 2 most helpful and knowledgeable participants about local personal finance issues on this MoneyMind forum are foreigners - BBCWatcher (American) and ShinyThings (Australian).

They are live testimonies that PAP's foreign talent policy is working well. LOL.
 

Xanthyon

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It is ironic that the 2 most helpful and knowledgeable participants about local personal finance issues on this MoneyMind forum are foreigners - BBCWatcher (American) and ShinyThings (Australian).

They are live testimonies that PAP's foreign talent policy is working well. LOL.
Sampling bias lah. For every ST/BBCW, there’s another 10000 useless FTs out there.

In any case, I’m here to +1 and support BBCW thread :D
 

w1rbelw1nd

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That's not a fair statement to make imo. There are lots of people in the credit card threads that posted specific hacks that can lead to rebates/savings, I would argue that their contributions are substantial as well.

It is ironic that the 2 most helpful and knowledgeable participants about local personal finance issues on this MoneyMind forum are foreigners - BBCWatcher (American) and ShinyThings (Australian).

They are live testimonies that PAP's foreign talent policy is working well. LOL.
 

a4973

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Hi BBCW, I've received a policy coupon from AIA. It's $xxxx.00 & it's 10% of the face amount of the policy. Now I'm deciding whether to return it to my accumulation account or withdraw it & VC into cpf. I've asked my agent if I return it what's the interest on it and he says it's currently 3.25%. which is not really very clear to me. ie if return does the 3.25% get added onto the sum then accumulate into my account or what?
It's a Life policy BTW.
My question here is does anyone know how this 3.25% interest actually work so I can make an informed decision whether to return or withdraw? If this is too general a question, please let me know what other info I should get & provide to get a clearer picture of it. Thanks

Sent from Motorola NEXUS 6 using GAGT
 

BBCWatcher

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Hi BBCW, I've received a policy coupon from AIA.... Now I'm deciding whether to return it to my accumulation account or withdraw it & VC into cpf.
Do you have the name of the AIA product handy? SmartRewards Saver (II) perhaps?

I'm not generally a fan of investment and savings products that insurance companies sell, but once you have such a product the optimum decisions aren't as obvious.

I'm a little thrown by the 10% coupon, but nonetheless if I've guessed correctly (or nearly correctly) about the product you have, then the way it appears to work is that AIA guarantees the coupons (equal to something 120% of the premiums paid, assuming all premiums are paid) but doesn't guarantee the 3.25% interest you were quoted. That figure looks suspiciously like the conventional lower projected (non-guaranteed) rate.

Have you finished paying all (or nearly all) premiums yet?
 

a4973

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Do you have the name of the AIA product handy? SmartRewards Saver (II) perhaps?

I'm not generally a fan of investment and savings products that insurance companies sell, but once you have such a product the optimum decisions aren't as obvious.

I'm a little thrown by the 10% coupon, but nonetheless if I've guessed correctly (or nearly correctly) about the product you have, then the way it appears to work is that AIA guarantees the coupons (equal to something 120% of the premiums paid, assuming all premiums are paid) but doesn't guarantee the 3.25% interest you were quoted. That figure looks suspiciously like the conventional lower projected (non-guaranteed) rate.

Have you finished paying all (or nearly all) premiums yet?
I'll go get the product name in the morning

Sent from Motorola NEXUS 6 using GAGT
 

BBCWatcher

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may i know what you think of travel insurance from world nomads?
https://www.worldnomads.com/travel-insurance/
The coverage is OK, but it appears to be merely a modified (not necessarily for the better), differently marketed, more expensive version of Bupa's travel medical insurance. So I'd just go to Bupa Global's Web site directly and compare policy wording, terms, and premiums.
 

Armwrestler

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BBCW, I've always been intrigued by your wealth of knowledge.

Ok you're American citizen too, I see. Are you asian american/ chinese american ( not that it matters but just curious; and, unsure if it was mentioned earlier)
 

Tiger9119

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BBCW, I've always been intrigued by your wealth of knowledge.

Ok you're American citizen too, I see. Are you asian american/ chinese american ( not that it matters but just curious; and, unsure if it was mentioned earlier)

I guess he is Chinese Singaporean holding U.S. passport. Most Americans don't watch BBC and also don't know what is KK Hospital.

I really appreciate his opinions and advice.
 

foozgarden

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BBCW,
with all the chatter on the yield inversion, and we are heading into an impending recession. what are you thoughts?
 

a4973

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Do you have the name of the AIA product handy? SmartRewards Saver (II) perhaps?

I'm not generally a fan of investment and savings products that insurance companies sell, but once you have such a product the optimum decisions aren't as obvious.

I'm a little thrown by the 10% coupon, but nonetheless if I've guessed correctly (or nearly correctly) about the product you have, then the way it appears to work is that AIA guarantees the coupons (equal to something 120% of the premiums paid, assuming all premiums are paid) but doesn't guarantee the 3.25% interest you were quoted. That figure looks suspiciously like the conventional lower projected (non-guaranteed) rate.

Have you finished paying all (or nearly all) premiums yet?

Yh8Es7u

this is from PSBI generated in 2017
 

Purplestars

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It is ironic that the 2 most helpful and knowledgeable participants about local personal finance issues on this MoneyMind forum are foreigners - BBCWatcher (American) and ShinyThings (Australian).

They are live testimonies that PAP's foreign talent policy is working well. LOL.

Not saying these two guys aren't good, but they provide plenty of irrelevant advice as well, and advice many savvy Singaporeans won't agree with. You only think they are the most useful because you only visit their threads, so it becomes self reinforcing.

Just check how many Singaporeans will all in CPF like BBCW recommends. I think most sensible locals here will keep it in the bank accounts and play the credit card games. Plenty of such people around not following the foreigners' advice, you just need to visit the individual bank and credit card threads to see for yourself.
 

Extech

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Hi BBCWatcher, big fan of yours. Would like your advice on this matter: Do you think I should apply for home insurance for my Uncle?

Uncle just moved into a 2 rm BTO on Single's scheme. He doesn't cook much and is clumsy. He actually got discharged hospital after suffering a nasty fall which saw him sustaining a hip fracture and being warded for about 5 weeks. Healthcare wise, government is taking care of him, with copious usage of his mediasave and medishield life haha.
 

rrr2015

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thanks for pointing out, just realized they are under bupa!

quick check, bupa global quotes were higher but i need to compare difference between them
The coverage is OK, but it appears to be merely a modified (not necessarily for the better), differently marketed, more expensive version of Bupa's travel medical insurance. So I'd just go to Bupa Global's Web site directly and compare policy wording, terms, and premiums.
 

BBCWatcher

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with all the chatter on the yield inversion, and we are heading into an impending recession. what are you thoughts?
Let me ask my crystal ball.... ;)

I assume there will be another recession at some point, and the drift toward a U.S. Treasury yield inversion (not quite there yet) is one classic leading indicator. My guess (only that) is that the current expansion still has a few more quarters to run.

rrr2015 said:
quick check, bupa global quotes were higher but i need to compare difference between them
If you're looking at annual travel medical insurance then Bupa Global direct's "Basic" policy should be approximately 100 British pounds per individual, and you might do slightly better with a coupon code (which you can find with an Internet search). World Nomads seems to be much higher than that, for a different (not necessarily better) coverage mix. For proper medical insurance (not just travel/emergency), the results could be different, but in Singapore you have to ask Raffles for a Bupa quote. (Bupa administers Singapore-issued policies, but Raffles underwrites them.)

Extech said:
Do you think I should apply for home insurance for my Uncle?
Are you talking about the HDB Fire Insurance (Etiqa 5 year policy), which costs a whopping $2.50? Or something more than that? (What?) Or both?
 
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