With AIA premium increase by 100+ again, is it still worth it?

[andyhtc]

The 4/5-bed ward in SGH looks quite comfortable and there is room for the nurses to watch out for you

https://www.sgh.com.sg/VirtualTour/Documents/virtual-tour.aspx
I don't mind downgrading from my A-ward plan when I'm after 65 years old

 

[a4973]

The 4/5-bed ward in SGH looks quite comfortable and there is room for the nurses to watch out for you

https://www.sgh.com.sg/VirtualTour/Documents/virtual-tour.aspx
I don't mind downgrading from my A-ward plan when I'm after 65 years old

Is 4 bed B1 & 5 bed B2?

 

[andyhtc]

Is 4 bed B1 & 5 bed B2?

I have no idea. Maybe B ward. They look surprisingly good. I might have been oversold with an A ward

 

[BBCWatcher]

I don't mind downgrading from my A-ward plan when I'm after 65 years old

I don't really understand this popular comment. Why would your preferences in terms of how many beds are in your hospital room change at age 65? In other words, if you're planning to "downgrade" when you're older, why not now and save the money? Why are you paying extra insurance premiums for a level of care that you don't deem important enough to insure? Bear in mind an "as charged" public hospital B1 ward plan still lets you stay in A ward if you wish. You just pay a little extra per day from MediSave and/or cash, that's all.

Is 4 bed B1 & 5 bed B2?

Public Hospital Wards

A = 1 bed, air conditioned, choice of doctor (subject to her/his availability), attached bathroom, sofa
B1 = 4 beds, air conditioned, choice of doctor (""), attached bathroom
B2+ = 5 beds, air conditioned, doctor assigned, attached bathroom
B2 and C = 6 or more beds per room, natural ventilation (occasionally with spot cooling), doctor assigned, common bathrooms

These ward categories really don't make any practical difference in the ICU.

I have no idea. Maybe B ward. They look surprisingly good. I might have been oversold with an A ward

I keep dropping hints... Insure against big bills (you cannot reasonably handle) for necessities, not luxuries. Do you need A ward? If we're being honest with ourselves, no.

However, unfortunately the Integrated Shield plan providers typically tweak their public hospital B1 ward plans so that they have other policy conditions that are not as robust as their A and private hospital plans. And foreigners (non-citizens/non-PRs) can't buy a public hospital B1 ward plan. So you might have to overinsure the ward class in order to get whatever other coverage provisions you genuinely need.

 

[andyhtc]

I don't really understand this popular comment. Why would your preferences in terms of how many beds are in your hospital room change at age 65? In other words, if you're planning to "downgrade" when you're older, why not now and save the money? Why are you paying extra insurance premiums for a level of care that you don't deem important enough to insure? Bear in mind an "as charged" public hospital B1 ward plan still lets you stay in A ward if you wish. You just pay a little extra per day from MediSave and/or cash, that's all.

Public Hospital Wards

A = 1 bed, air conditioned, choice of doctor (subject to her/his availability), attached bathroom, sofa
B1 = 4 beds, air conditioned, choice of doctor (""), attached bathroom
B2+ = 5 beds, air conditioned, doctor assigned, attached bathroom
B2 and C = 6 or more beds per room, natural ventilation (occasionally with spot cooling), doctor assigned, common bathrooms

These ward categories really don't make any practical difference in the ICU.

I keep dropping hints... Insure against big bills (you cannot reasonably handle) for necessities, not luxuries. Do you need A ward? If we're being honest with ourselves, no.

However, unfortunately the Integrated Shield plan providers typically tweak their public hospital B1 ward plans so that they have other policy conditions that are not as robust as their A and private hospital plans. And foreigners (non-citizens/non-PRs) can't buy a public hospital B1 ward plan. So you might have to overinsure the ward class in order to get whatever other coverage provisions you genuinely need.

After 20-30 more years from 65, almost all must surrender NRIC.

 

[CrashWire]

I don't really understand this popular comment. Why would your preferences in terms of how many beds are in your hospital room change at age 65? In other words, if you're planning to "downgrade" when you're older, why not now and save the money? Why are you paying extra insurance premiums for a level of care that you don't deem important enough to insure? Bear in mind an "as charged" public hospital B1 ward plan still lets you stay in A ward if you wish. You just pay a little extra per day from MediSave and/or cash, that's all.

People's preferences change over time. Some people grow into their expensive lifestyles, others eventually resign themselves to mediocrity and learn to be content within their means.

I get that even a B1 plan has a proration factor, but the difference in price between an A and B1 plan is fairly insignificant when one is younger, and could, for one, make a fairly large difference in proration if they're ever forced to go private — like if they have an elective surgery that can only be scheduled at a public hospital months later (fairly common given how lean our public healthcare system is run), but is crippling their lifestyle.

 

[davidtanwei]

Mine is medishield tie with aia hsg max c. I look at aia app, it show

1) private - standard room and below

2) hospital room & board per day is $450.

3) hospital max limit per year is $150000. Can claim this much if hospitalization.

4)
Premium payment term
10 years
Premium cessation date
01 Aug 2023
Does it mean it's expired or auto renew 10 years?

If I just used basic medishield...no enough. This I pay $520 annually.
I think can keep

 

[BBCWatcher]

Mine is medishield tie with aia hsg max c. I look at aia app, it show
[…]
Does it mean it's expired or auto renew 10 years?

As long as you keep paying premiums you can stay on this plan if you wish. It’s a “legacy” plan (no longer offered for new signups). The annual coverage limit is on the low side, and it has some per-procedure/-service sublimits. But if you’re going to obtain your care from public hospitals with maximum available subsidies (i.e. go to a polyclinic first if it’s not an emergency) and stay in B1 ward or lower then it looks OK to me.

Premiums for your plan are lower than for any currently available Integrated Shield plan from AIA. You might be able to switch to AIA’s B Lite plan (for example) for generally improved coverage (and higher premiums), but at the very least any preexisting conditions would not be covered to the higher levels.

 

[davidtanwei]

As long as you keep paying premiums you can stay on this plan if you wish. It’s a “legacy” plan (no longer offered for new signups). The annual coverage limit is on the low side, and it has some per-procedure/-service sublimits. But if you’re going to obtain your care from public hospitals with maximum available subsidies (i.e. go to a polyclinic first if it’s not an emergency) and stay in B1 ward or lower then it looks OK to me.

Premiums for your plan are lower than for any currently available Integrated Shield plan from AIA. You might be able to switch to AIA’s B Lite plan (for example) for generally improved coverage (and higher premiums), but at the very least any preexisting conditions would not be covered to the higher levels.

I had this plan and the premium start at $200+. Now I paying $500+.
How long can our medisave 66k afford
To keep on paying if can double premium. When we not working. Most people cancel and just used basic medishield?

I going to cancel my kid aia max vitalcare. Really can't pay. $800cash+300medisave.

 

[reddevil0728]

I had this plan and the premium start at $200+. Now I paying $500+.
How long can our medisave 66k afford
To keep on paying if can double premium. When we not working. Most people cancel and just used basic medishield?

I going to cancel my kid aia max vitalcare. Really can't pay. $800cash+300medisave.

Do you really need private hospital care?

Not worth unless you are the kind that keeps going to hospital. If not ppl “enjoy” https://www.straitstimes.com/business/invest/do-lobster-meals-add-to-high-hospital-charges on your behalf.

Private ISP premium increase quite crazy cause that’s one of the reasons.

 

[BBCWatcher]

I had this plan and the premium start at $200+. Now I paying $500+.
How long can our medisave 66k afford
To keep on paying if can double premium. When we not working. Most people cancel and just used basic medishield?

No, it doesn’t seem like it. Roughly 2/3rds of Singaporeans pay for Integrated Shield plans last I checked. While there’s undoubtedly an age skew (people dropping off Integrated Shield plans as they age) I don’t think these plans are unpopular among older cohorts.

Your legacy “C” plan happens to have a lower premium than every currently offered AIA Integrated Shield plan — and maybe all other currently offered Integrated Shield plans.

I going to cancel my kid aia max vitalcare. Really can't pay. $800cash+300medisave.

Which plan is that?

 

[davidtanwei]

The plan is aia max vitalcare(include 1 rider hospitalization).
Got another name attached. It also show AIA hsg max A. Really expensive. I doubt I can managed with the fast increment every year.
last time pay higher, so just buy and don't really see. He say what...I ok.
but got Hugh pay cut....so have to cut down.
I feel if you see your father and mother kin, sibling and etc don't have much illness. I think it ok to lean pay.

 

[chong18]

Mine is integrated as charged plan B1 ward. No rider at all, don't see the point of paying the extra premium for 30-40years only to downgrade it later on

 

[BBCWatcher]

The plan is aia max vitalcare(include 1 rider hospitalization).
Got another name attached. It also show AIA hsg max A. Really expensive. I doubt I can managed with the fast increment every year.

AIA HealthShield Gold Max A is AIA's Integrated Shield plan designed for private hospital care. It's their most expensive Integrated Shield plan, and it's arguably the best such plan in the market, actually.

AIA Max VitalCare refers to your rider (additional cost option) associated with the AIA HealthShield Gold Max A base plan. Rider premiums must be paid fully in cash, not with any MediSave dollars. AIA Max VitalCare is no longer offered to new customers, but existing customers can keep it if they wish.

You have the option to switch from AIA Max VitalCare to AIA Max VitalHealth A Value with no underwriting. The basic difference is that AIA Max VitalHealth A Value requires a higher co-pay (10% instead of 5%) and caps co-insurance at a higher level ($6,000 instead of $3,000, but only for private hospitals and then only if they're panel or pre-approved; it's $3,000 for public hospitals). So for small medical bills you pay somewhat more out of pocket (cash and/or MediSave). But the VitalHealth A Value premiums are lower, and it still protects against the big (or lots of small adding up to big) medical bills.

Another option is to switch the base plan and rider to one of AIA's public hospital Integrated Shield plans. Confusingly AIA HealthShield Gold Max B is their plan designed for public hospital A ward, and ...Gold Max B Lite is designed for public hospital B1 ward.

In case you're wondering you don't have to wait for your plan renewal anniversary to make switches. Lower premiums will be pro-rated and refunded. The plan/rider switches I've described (within AIA) should not involve underwriting or any preexisting condition reset, but be sure to confirm that important detail with AIA.

Mine is integrated as charged plan B1 ward. No rider at all, don't see the point of paying the extra premium for 30-40years only to downgrade it later on

Given the 2023 cancer drug coverage changes I think there's a somewhat stronger argument in favor of the optional rider — but not anything more than the lowest cost rider.

 

[davidtanwei]

I really don't want to call my agent.
I sure my AIA hsg max a, he should receive commission as I pay cash 800 annually.
Is it ok to go their office at finlayson?
I think no need book appointment compared to COVID times. Can I ask wat are the downgraded option? And if within my affordable. I can just switch.
How ironic, most parents in the past never pay insurance for us. While parents of today ....buy and buy. Maybe because medical cost last time cheaper

 

[sohguanh]

I really don't want to call my agent.
I sure my AIA hsg max a, he should receive commission as I pay cash 800 annually.
Is it ok to go their office at finlayson?
I think no need book appointment compared to COVID times. Can I ask wat are the downgraded option? And if within my affordable. I can just switch.
How ironic, most parents in the past never pay insurance for us. While parents of today ....buy and buy. Maybe because medical cost last time cheaper

Last time no monies parents want to buy also cannot. Now monies more so buy but when you old retrench how to continue paying? That is why ppl downgrade or sell terminate plan etc.

 

[reddevil0728]

I really don't want to call my agent.
I sure my AIA hsg max a, he should receive commission as I pay cash 800 annually.
Is it ok to go their office at finlayson?
I think no need book appointment compared to COVID times. Can I ask wat are the downgraded option? And if within my affordable. I can just switch.
How ironic, most parents in the past never pay insurance for us. While parents of today ....buy and buy. Maybe because medical cost last time cheaper

What’s wrong with calling agent?

even if don’t call agent, why need to go down to office cannot call in and ask?

 

[BBCWatcher]

I really don't want to call my agent.
I sure my AIA hsg max a, he should receive commission as I pay cash 800 annually.
Is it ok to go their office at finlayson?

I don't see why not, but call ahead.

...But why do you even need to do that if you know what you want to do? It looks like AIA offers online policy changes (via "MyAIA") for HealthShield. Or if you prefer a paper form then print out this form, fill it out, and mail it in. Their postage label is available here.

I think no need book appointment compared to COVID times. Can I ask wat are the downgraded option? And if within my affordable. I can just switch.

You can find the premium schedule here.

 

[stanlawj]

I really don't want to call my agent.

Any changes in policy need to go through the agent. They need to endorse your request form.

By the way, I am on AIA HSG Max A + Max Vitalhealth A Value rider. I think this is the best compromise that allows private hospital claims while not blowing the premiums to the roof like Max Vitalhealth A (without the Value). There is a risk that the public/restructured hospital can only arrange specialist appointments weeks later, so I want the option of the private hospital for really emergency case (same day or next day).

I don't have children, but my guess is only accident insurance is really necessary. For an upgrade, then the IHS is next step, which I feel that Great Eastern Supremehealth (P Plus) alone is the best because the premiums are really low if no claims. If your children have no genetic disorders, then looks like no claims for many years, then you want really low premiums until the children start working.

 

[BBCWatcher]

Any changes in policy need to go through the agent. They need to endorse your request form.

Not according to the form I linked to. Some changes do, and some don't. And some changes can be done online. (It's possible on the "backend" of an online change AIA will notify your agent, but that's up to AIA really.)

I've interacted with a few insurance companies, and while they might look at you a little funny if you show up on their doorstep (at their policyholder service center) to make some change they still do it. I can't think of any exceptions. Which is not to say I don't like my agent (I do, actually), but if you don't that's OK. You can ask for another agent and/or approach the insurance company directly.

Some insurance companies don't even have agents, not as such.

By the way, I am on AIA HSG Max A + Max Vitalhealth A Value rider. I think this is the best compromise that allows private hospital claims while not blowing the premiums to the roof like Max Vitalhealth A (without the Value). There is a risk that the public/restructured hospital can only arrange specialist appointments weeks later, so I want the option of the private hospital for really emergency case (same day or next day).

You can go to a private hospital with HealthShield Gold Max B! A proration factor will be applied, but you're still welcomed if you simply have some top-up cash and/or MediSave (as applicable).

Standalone outpatient specialist appointments typically aren't covered at all by Integrated Shield plans, so have fun wherever you want.

I don't have children, but my guess is only accident insurance is really necessary.

Is it? Most PA policies I've seen pay low 5 digit figures (maximum). It's not life changing money, and insurance payouts generally need to be that (life changing) to be protective.