Which Hospitalization Plan Is Affordable

[yeobt]

after my mom was contracted with a sudden illness few months ago and we
spent thousand of $$$ on her medical, i think is time i should consider to get
some hospitalization plans for my parents-in-law.

my mom's case http://forums.hardwarezone.com.sg/e...ooking-her-long-lost-brother-how-4554408.html

any agents here care to share the cost of hospitalisation plans for age 70?
can it be paid by CPF medisave or cash?

TIA

 

[Michyeosseo]

Hi there,

Sorry to hear that..

Please refer to the MOH website for the benefits and cost.

Please note that pre-existing conditions will be excluded.

 

[NiteX2]

Hi, sorry about your mum's condition.

Regarding your question with regards to hospitalisation plans for your in-laws, I would think that NTUC will be a cost effective one to get considering their ages.

NTUC Income | Enhanced Incomeshield | Health Insurance | Hospitalisation Insurance

NTUC Income | Incomeshield Riders | Health Insurance | Hospitalisation Insurance

Premiums will be split into 2 parts, the enhanced incomeshield is payable thru medisave while the assist rider is payable with cash.

Do note that NTUC provides up to 90% coverage of the total bill size, with 10% payable (capped at $3000 max per year) on the part of the client.

The other insurers in the market provide cover till 100% (Aviva, AIA, Pru and GE)

 

[ilovecheese]

Can write in to mp to seek for hospital partial waiver of fees with MOH

 

[hwmook]

after my mom was contracted with a sudden illness few months ago and we
spent thousand of $$$ on her medical, i think is time i should consider to get
some hospitalization plans for my parents-in-law.

my mom's case http://forums.hardwarezone.com.sg/e...ooking-her-long-lost-brother-how-4554408.html

any agents here care to share the cost of hospitalisation plans for age 70?
can it be paid by CPF medisave or cash?

TIA

I don't mean to pour cold water but in the first place, these insurance will cost you thousands in premiums so you rather pay that thousands of dollars when they go to hospitals or start paying before that. Deductible and 10% co-insurance will already make sure you pay that few thousands for every hospital stay. If you want to cover the deductible and co-insurance then you need to get a intergrated plan with assist rider which will cost ~$2000 for age 70. Eventually you are just paying advance payment for their hospital stay or maybe for nothing.

Its a better idea to just save the money and invest so that you can take out these money when you need them. That's why we have medisave because many people don't plan for their future when they might fall sick.

 

[bslow27]

Medishield Life will cover all including pre-existing conditions from next year.

 

[Lifeisgreat91]

as above its very expensive
you need to consider it
since you parents are age 70 they will have to go for a health checkup and any fault they find will be excluded
second the premium is around 1.5k for b ward
due to age over 70 you can use up to 1k medisave payable

 

[yeobt]

thanks all for the time to reply.
let me digest all the helpful info provided first and shall come back if i need further assistance.

thank you guys, good luck and stay healthy!

 

[Pika mianbao]

insurance is buy when the person healthy, not buy when there is condition...

anyway sori to hear that.

 

[IFAadvisor]

after my mom was contracted with a sudden illness few months ago and we
spent thousand of $$$ on her medical, i think is time i should consider to get
some hospitalization plans for my parents-in-law.

my mom's case http://forums.hardwarezone.com.sg/e...ooking-her-long-lost-brother-how-4554408.html

any agents here care to share the cost of hospitalisation plans for age 70?
can it be paid by CPF medisave or cash?

TIA

Hi,

You may consider Aviva moratorium underwriting. Straight forward no underwriting required and pre-existing not covered, strictly based on your doctor's report. My dad had angioplasty done, no insurer will take him up. under moratorium, anything happens to his heart again, we will bear the cost, but if other conditions other than the heart condition strikes, Aviva will pay.

You can access up to $1000 per year from medisave for age 70.

Hope this helps

 

[tanjhj]

might as well get incomeshield, cheaper overall since heart problems will be excluded too.

if u guys always wonder why the independce adviser recc non-income policy, simple. income pay the least commission to them however income often is the best value for money policy for the ph but worst commission for the agents and broker

 

[mojitoes]

income policy only covered up to 90% of the bill

 

[tanjhj]

income policy only covered up to 90% of the bill

negative, all std shield policy covers only 90% minus the deductible. it is the cash rider that helps.

income assist rider is cheap and able to cover up to 100% of the bill too.
next, i did a calculation, those paying for pru or other 100% rider (cash) ends up paying 40k+ (in 10 years alone) more if the PH is abv age 65, if compared with income assist rider. (guess why pru only dare show the rider premium till age 75)

remember there is no free lunch i dun think pte companies like pru and aia can afford to make less profit than income which is a co-op.

Note: when u got illness already, u cant switch insurance and will be held by the balls, they increase premium u also lan lan. also, remember those with 100% coverage one will not be able to prevent abuses by the clients, hence i forsee the premium will jump every year.

 

[mojitoes]

you might want to look at the policy again..

With the Assist Rider1, all you need to pay is 10% of the claimable amount, subject to a maximum co-payment^ each year.

 

[tanjhj]

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[mojitoes]

Like i said, there is a 10% co-payment or the cap of $2,500 (for Advantage/PlanA) even with Assist Rider.

 

[tanjhj]

Like i said, there is a 10% co-payment or the cap of $2,500 (for Advantage/PlanA) even with Assist Rider.

u misunderstood how assist rider works. assist rider can pay 100% coverage anyway, if u are willing to pay double cash premium for a 100% coverage, u are of coz free to do so from your young and healthy age. to me, the money i save by getting incomeshield from my young age to my death is more than enuff to cover a whole payout of a CI policy plus i get to invest my premium savings over the years.

 

[mojitoes]

You don't believe you can call NTUC tomorrow and ask if it covers 100%.

I don't think we should go too far into talking about saving the difference and potentially get more from investing.

On the other hand, you might be paying $2,500 if you are admitted to hospital next year after saving a few hundred dollars in premium.

If you are talking about Plus Rider that covers 100%, it has been discontinued since 2007

 

[tanjhj]

You don't believe you can call NTUC tomorrow and ask if it covers 100%.

I don't think we should go too far into talking about saving the difference and potentially get more from investing.

On the other hand, you might be paying $2,500 if you are admitted to hospital next year after saving a few hundred dollars in premium.

If you are talking about Plus Rider that covers 100%, it has been discontinued since 2007

dun worry, i know how the assist rider can work to cover 100% i know it is not 100% but 95%+.

if you keep fixated on looking at 100% coverage, u will only see what is good abt it but not the whole picture on how u can benefit from other good policy.

 

[mojitoes]

It's not just about the the monetary benefits for a 100% cover.

It is about the peace of mind that your medical cost are fully paid for when you are lying on the hospital bed focusing on recovery. You can definitely take care of this on your own but you can't argue that some would preferred a hassle-free full cover without worrying for the cost. A peace of mind is something valuable that you can't measure.

I'm just trying to point out that it was not a fair comparison between an assist rider from NTUC and cash rider from other companies. I'm sure the public would want to see the whole picture.