All About Health Insurance
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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. -
tanzyjac:
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?
Luckily for us, my bro took up additional health insurance plan for my mum
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now? -
jedamum:
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.
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?tanzyjac:
Luckily for us, my bro took up additional health insurance plan for my mum
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now?
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. -
jedamum:
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).
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?tanzyjac:
Luckily for us, my bro took up additional health insurance plan for my mum
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now?
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. -
jedamum:
Hi there recently the govt has implemented the eldershield programe to all sporeans age 40.
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?tanzyjac:
Luckily for us, my bro took up additional health insurance plan for my mum
If the parents already had history of high blood etc, wouldn't it be near impossible to get any of such now?
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.... -
Btw i am from an licensed financial co.
We represent a few insurers .....fyi those belowmentioned are highly reco to read....
http://www.income.com.sg/insurance/eldershield/
http://www.aviva-singapore.com.sg/ (look for eldershield)
Both works about the same way but there is some differences, but due to my license with mas i cant mention much on the net...everything is so compliance etc..... -
Hi,
do you buy any insurance for your kids? If yes what sort ? -
yes, i recently bought a medical insurance from Prudential for my dd. tot its impt as young kids are vulnerable to the virus/diseases around them. so i actually bought an "as-charged" plan for my dd and another to cover the co-insurance part. hence in event of hospitalisation (touch-wood), no need to pay single cent.
also impt is whole-life coverage insurance. to me, it’s like a gift becos buying at a young age, the premium is so much cheaper. when they start working, can take over the premiums themselves. i believe there are those which the parents can pay over 20 yrs and cover the kid for life type.
others to consider wil be education and endowment plans. mostly long term savings type becos the returns are abt 3 to 5% p.a. suitable for people who are not disciplined savers and not savvy to invest. -
I am looking at getting Medishield for my housewife mum.
1. it is stated that "You and/or your dependant(s) may be required to submit a medical report or undergo a medical examination."
Can anyone advice me where can i go for affordable medical checkup to fulfil the requirements? Do we do that only upon request?
2. it was stated that "CPF members and their dependants (Singaporeans or Permanent Residents), who are below 75 years of age and in good health, may apply for coverage under the MediShield Scheme. " - if have history of high blood but is currently in good health, is it consider has ‘in good health’?
have anyone who had applied for medishield for their dependents share with me what other issues are noteworthy in this application?
TIA! -
jedamum, sorry I can only answer one question of yours. For affordable medical checkup, go to SATA. You can go to a branch directly to enquire or check out their website. http://www.sata.com.sg/ You need to make an appointment for medical checkup. If you're not sure whether checkup is needed or what the checkup must include, best is to call CPF first.
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