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Re: All About Health Insurance
Posted: Tue May 07, 2019 7:34 pm
by Estéema
ngl2010 wrote: ↑Tue May 07, 2019 4:17 pm
If I have Integrated Shield Plan for Private Hospital, can I still claim if I am admitted to public hospital?
Definitely can claim. In fact if u hv high cover up to pte hospital (that is inpatient charges), you ard stretching to benefit more of in event u need longer admission & treatment. This is what we have (i.e. ISP max) & our intentions as follows :-
1. Provide for additional coverage abv MediSave
2. If we require long term treatment, were satisfied with B2 Ward & the ISP coverage stretched
3. Unless we hv any need for specific specialist we will then hv available pte coverage but we’ll aviod if it’s chronic treatment bcoz going pte will limit us access for subsidies treatment. We started our cover before any pre-existing conditions but even with pre-existing conditions we will still cover ISP for future needs.
DH’s colleague’s son was infected with an extremely rare intestinal flare up which requires very expensive treatment. Thankfully this colleague was wise to provide for max ISP cover for entire family.
Not sure if anybody else hv sth better to share.
Re: All About Health Insurance
Posted: Thu May 09, 2019 8:48 am
by Poppypie
Is health insurance a must?
Re: All About Health Insurance
Posted: Thu May 09, 2019 1:41 pm
by ngl2010
Estéema wrote: ↑Tue May 07, 2019 7:34 pm
ngl2010 wrote: ↑Tue May 07, 2019 4:17 pm
If I have Integrated Shield Plan for Private Hospital, can I still claim if I am admitted to public hospital?
Definitely can claim. In fact if u hv high cover up to pte hospital (that is inpatient charges), you ard stretching to benefit more of in event u need longer admission & treatment. This is what we have (i.e. ISP max) & our intentions as follows :-
1. Provide for additional coverage abv MediSave
2. If we require long term treatment, were satisfied with B2 Ward & the ISP coverage stretched
3. Unless we hv any need for specific specialist we will then hv available pte coverage but we’ll aviod if it’s chronic treatment bcoz going pte will limit us access for subsidies treatment. We started our cover before any pre-existing conditions but even with pre-existing conditions we will still cover ISP for future needs.
DH’s colleague’s son was infected with an extremely rare intestinal flare up which requires very expensive treatment. Thankfully this colleague was wise to provide for max ISP cover for entire family.
Not sure if anybody else hv sth better to share.
Esteema
Re: All About Health Insurance
Posted: Thu May 09, 2019 1:48 pm
by ngl2010
I am comparing all Integrated Shield for DS as I want him to take charge of his insurance needs starting next year when he starts earning from NS.
And I got a shock!
For Integrated Shield for private hospital, he needs to pay between $115k and $161k from now until he is 90 years old!
And that is without any rider!
If he is like all the males in our family, who are never hospitalized, it is cheaper to not upgrade the MediShield at all and just pay the hospital fee from his own pocket.
Re: All About Health Insurance
Posted: Thu May 09, 2019 2:15 pm
by Estéema
NTUC Income Integrated Shield Plan (ISP) is not as expensive lah. When our kids are capable of earning an income, they shld pay for their own health premiums. Don’t think too far lah.
We bought ISP for both PIL 8 years ago. FIL just started dialysis & each month costs >$2K. Now whole family u’stood why we pay for it as it reduces our financial burden. Imagine in one year, all the 8 years premium will be recovered!
Re: All About Health Insurance
Posted: Thu May 09, 2019 2:36 pm
by ngl2010
Estéema wrote: ↑Thu May 09, 2019 2:15 pm
NTUC Income Integrated Shield Plan (ISP) is not as expensive lah. When our kids are capable of earning an income, they shld pay for their own health premiums. Don’t think too far lah.
We bought ISP for both PIL 8 years ago. FIL just started dialysis & each month costs >$2K. Now whole family u’stood why we pay for it as it reduces our financial burden. Imagine in one year, all the 8 years premium will be recovered!
NTUC Income was competitive when Tan Kin Lian was at the helm. Now they are not as competitive. I compared all the 7 ISP providers and NTUC Income is about $20k more expensive than 2 other companies.
Of course DS will pay his own insurance premiums when he starts to work, which is next year when he got into NS. But insurance premium of $115-161k is a lot as there is no cash value in it. Your FIL's case is different since you only bought him ISP 8 years ago and he is having dialysis now so ISP is worth it.
Maybe I will advise him to buy coverage for private hospital now. It is easier to downgrade the coverage than to upgrade the coverage. But the decision is his because he will be the one that is paying.
Re: All About Health Insurance
Posted: Thu May 09, 2019 3:31 pm
by MyPillow
my whole family - private /preferred choice fr INCOME
the last i checked against big ones aia, axa, pru - income was cheaper,
which company is lower now ?
yes to downgrade is easier, income did ask qn when we wanted to upgrade - our thinking is since we can afford to pay for private now, we would do so -as this is our prime period, high commitment to support family . my seniors buy the lowest coz they think are OLD , no need expensive care, willing to stay C ward - if anything not well, they want to live naturally , dun wish to drag , so be it as that's life, to end naturally in whatever illness or no illness
Re: All About Health Insurance
Posted: Thu May 09, 2019 6:56 pm
by ngl2010
MyPillow wrote: ↑Thu May 09, 2019 3:31 pm
my whole family - private /preferred choice fr INCOME
the last i checked against big ones aia, axa, pru - income was cheaper,
which company is lower now ?
yes to downgrade is easier, income did ask qn when we wanted to upgrade - our thinking is since we can afford to pay for private now, we would do so -as this is our prime period, high commitment to support family . my seniors buy the lowest coz they think are OLD , no need expensive care, willing to stay C ward - if anything not well, they want to live naturally , dun wish to drag , so be it as that's life, to end naturally in whatever illness or no illness
Cheapest now is AXA and Raffles Health Insurance.
What questions did Income ask when you wanted to upgrade? Did they send you for health check?
Re: All About Health Insurance
Posted: Fri May 10, 2019 10:24 am
by MyPillow
ngl2010 wrote: ↑Thu May 09, 2019 6:56 pm
MyPillow wrote: ↑Thu May 09, 2019 3:31 pm
my whole family - private /preferred choice fr INCOME
the last i checked against big ones aia, axa, pru - income was cheaper,
which company is lower now ?
yes to downgrade is easier, income did ask qn when we wanted to upgrade - our thinking is since we can afford to pay for private now, we would do so -as this is our prime period, high commitment to support family . my seniors buy the lowest coz they think are OLD , no need expensive care, willing to stay C ward - if anything not well, they want to live naturally , dun wish to drag , so be it as that's life, to end naturally in whatever illness or no illness
Cheapest now is AXA and Raffles Health Insurance.
What questions did Income ask when you wanted to upgrade? Did they send you for health check?
i thought AXA used to be expensive ..
is Raffles Health insurance fr Raffles hospital Grp?
vaguely, i think my ntuc agent came to visit us & needed us to declare out health status - sign new doc etc
As there was a claim on personal accident, income also need us to submit a hospital discharge letter to prove that there is no further follow up fr the accident
Re: All About Health Insurance
Posted: Fri May 10, 2019 12:54 pm
by Estéema
I’m also particular abt claim experiences.
So far in the insurance mkt AIA & NTUC hv good reputation for quick pymt. FIL’s Claims has been coming in fr NTUC since his numerous hospitalization & now we found we can file our travel claims online - just scan & submit receipts. Simple & save me time fr over counter claims. I’ve know Prudebtial has been the costliest in the mkt.