All About Health Insurance

[kelamel]

Hi all,


I will try and find the excel sheet that compares all the various insurers provider with the benefits…you may need to print it as an A2 size…

Keep u guys updated once i am able to get it back from my kaki

[ryankwek]

Hello kelamel,


any updates from your kaki?

[kelamel]

sorry didnt log in here for quite some time…i try get it in half hour time…standby for my message

[kelamel]

Im sorry nobody seems to know where it is and looks like its lost :stupid: for now. Sorry for this....if i able to find it i will let u guys know, anyway i need to try my best to get another copy too.

[Manu]

Hi,

u can't simply compare as if it's a product. we need to evaluate our needs and then map it with the coverage or benefit they have to offer. at the end of the day, u should know what u r buying.
i can shed more light if u need more info.
have a good weekends!
:love:
From Ryan

[tanzyjac]

Hi! Saw this thread a little late, hope this comparison table of various shield plans in the market helps. I don't know how to attach a pdf file here, but you can go to MOH's website for one http://www.moh.gov.sg/mohcorp/uploadedFiles/Healthcare_Financing/Medishield/Comparison%20of%20IPs%20wef%201%20Feb%202009.pdf


Do note that there is a 'Deductible' and 'co-insurance' ones need to bear in all claims. Most insurance companies offer additional rider such as 'essentials', 'shield plus', 'total shield' etc that will take care of the 'Deductible' and 'Co-insurance' at an additional premium, usually by cash. Most health insurance premiums will increase as we grow older, i.e. premiums are not lock-in at sign up.

Quote a real example from my late mum's case, fr 25Dec08 to 16Jan09.
Total bills in TTSH 4 bedded rm was S$13,740 (22 days spent)
Shield plan claimable amt was $9,900 (the bal $3840 was in excess of the individual sub-limits of the plan, such as Daily Rm & Board, Surgery Limits)
After deducting 'D' $2000 and 'Co' of $790, insurance co pays $7110
This left us to bear the balance $6630.

Luckily for us, my bro took up additional health insurance plan for my mum and another one thru' credit card company. We managed to get reimbursement of another $2500 from the insurance co, plus $4400 daily hospital income from the 2 hospital plans. So that helped to settle all the excess bills.

So it is always good to review your health insurance portfolio regularly. Talk to your insurance agent to ensure that there is really a 100% coverage.

[jedamum]

tanzyjac:

Luckily for us, my bro took up additional health insurance plan for my mum

how to get health insurance plan for our parents? i thought insurance coy are not keen on older people due to the increased health risk?
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now?

[tanzyjac]

jedamum:

tanzyjac:

Luckily for us, my bro took up additional health insurance plan for my mum

how to get health insurance plan for our parents? i thought insurance coy are not keen on older people due to the increased health risk?
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now?

Hi Jedamum, you're right, most ins companies don't take in old and unhealthy ones... and if they do, the premiums are usually very expensive though.

My mum passed on at age 59. My bro bought the insurance plans when she was in her late 40s, young and healthy

Do not assume that insurance companies will not provide insurance coverage for the old folks, let the underwriters decide whether their companies want to provide the coverage or not. Who knows? They may provide them insurance coverage at an exclusion, which is usually indicated clearlhy at the point of offer.

[cmm]

jedamum:

tanzyjac:

Luckily for us, my bro took up additional health insurance plan for my mum

how to get health insurance plan for our parents? i thought insurance coy are not keen on older people due to the increased health risk?
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now?

Underwriting for medical plans is the most stringent among all insurance coverage. Reason being claims can be made as long as one is hospitalised or require long term medical treatment (which are usually also costly).

The max entry age for most medical plans are between 60 to 70 years of age.

For people with existing medical conditions, exclusions are usually imposed on related conditions. For example, for someone with hypertension, conditions relating to diabetes, stroke, heart disease, kidney failure will be excluded.

That said, if one develops hypertension after taking up a medical plan, is he/she covered for the above conditions?

Answer is \"Yes\" if your medical plan has a \"Guaranteed Renewal\" clause and \"No\" if it does not.

[kelamel]

jedamum:

tanzyjac:

Luckily for us, my bro took up additional health insurance plan for my mum

how to get health insurance plan for our parents? i thought insurance coy are not keen on older people due to the increased health risk?
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now?

Hi there recently the govt has implemented the eldershield programe to all sporeans age 40.
It means that if a person is unable to do any of the 3 ADSL the person will receive XX amount of dollar for 5 years

Premium is being paid by CPF medisave.
TO enchance this u can get the enchance eldershield which you can get back more $$ if this were to happen to anyone abv age 40 and for unlimited.

Take for example my grandma who cant eat on her own, pass motion on her own or change clothes on her own. She will qualify but becos there werent any policy years ago...we have to pay for the maid etc...
Remember you dont need to have an illness to get these benefits.

I suggest you guys to read on eldershield programe on the cpf website or the govt agencies...

Yes agree those with high blood etc will not be able to get the enchanced version....