Hospital Insurance
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My family of four are covered under NTUC Incomeshield Advantage plan and we also include the rider. We also covered ourselves under the LUV plan (me and hubby under deluxe and for my kids under basic).
So far, we are glad (thank GOD!!!) that we have not "use" any of the insurance. But I guess H&S insurance plan is a must for every individual as we will not know what can happened in the future. Its better to be safe than sorry… -
My gal was hospitalised 3 times during her 1st 3 years. So far claimed almost $7k.
So her H&S plan is technically \"free\" for next few decades
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I was going to upgrade my existing basis My shield plan currently with CPF to AVIVA as charged plan. My kids would be entitled for free coverage if myself and husband sign up the plan. Do any one of yours have experience with AVIVA. How their response in term of claim and services in any other area. tks.
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pqy:
I was going to upgrade my existing basis My shield plan currently with CPF to AVIVA as charged plan. My kids would be entitled for free coverage if myself and husband sign up the plan.
Do note that your kids are only entitled to the next lower plan of whatever plan the parents have signed up
If possible (with financial consideration), do cover the kids with the highest plan if possible. It is easier to downgrade next time (if financially is a huge burden) then for the kids to upgrade to the next higher plan in future. The kids will subject to alot of exclusion for whatever illness/injuries happened to them previously
Sometime it is also safer if one is allow to stay in Private Hospital if required cause certain treatment might only be available in Private Hospitals and not in government hospital -
Which one is good? Aviva, Great Eastern, AIA, Prudential? Any of them which can pay a certain amount of rider where hospital bill is $0?
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daddy2007:
Just to add on, when your children become adults, they will need to purchase new H&S insurance and go thru underwriting again. This means that they will have to bear the risk of rejection or higher premiums should they have any pre-existing conditions acquired during childhood or adolescence.pqy:
I was going to upgrade my existing basis My shield plan currently with CPF to AVIVA as charged plan. My kids would be entitled for free coverage if myself and husband sign up the plan.
Do note that your kids are only entitled to the next lower plan of whatever plan the parents have signed up
If possible (with financial consideration), do cover the kids with the highest plan if possible. It is easier to downgrade next time (if financially is a huge burden) then for the kids to upgrade to the next higher plan in future. The kids will subject to alot of exclusion for whatever illness/injuries happened to them previously
Sometime it is also safer if one is allow to stay in Private Hospital if required cause certain treatment might only be available in Private Hospitals and not in government hospital -
titank:
Which one is good? Aviva, Great Eastern, AIA, Prudential? Any of them which can pay a certain amount of rider where hospital bill is $0?
From my understanding after looking thru various H&S policies, they have common features and some unique highlights. Hence you need to choose one that best fits your needs. And yes, all of them allow for riders to reduce hospital bills to ZERO. However, the premiums are not cheap to me. -
check out http://www.moh.gov.sg
there is a medisheild comparison
unable to get link but see below some info
Click here for a comparison of the Integrated Shield Plans
If you had a Medisave-approved plan with a private insurer before 1 July 2005, you will be transited to the new Medisave-approved Integrated Shield plans over a 2 year period by your private insurer. After the 2-year transition period is over, Medisave cannot be used to pay for the premiums of the old plans as they are not integrated with MediShield.
Service Indicators
(I) Claims return rate
The following claims return rate table shows how long it takes each insurer to process claims with positive payouts.
The phrase, cumulative claims return rate, refers to the percentage of claims processed by the insurer within one week, two weeks and one month. Note that the fifth column shows the median number of days it takes each insurer to process claims.
\tCumulative Claims Return Rate\tMedian claims return rate (days)
<= 1 week\t<= 2 weeks\t<= 4 weeks
AIA\t85%\t89%\t92%\t1
AVIVA\t80%\t83%\t88%\t1
Great Eastern\t93%\t96%\t98%\t0
NTUC Income\t92%\t94%\t96%\t0
Prudential\t94%\t97%\t99%\t0
(1 Jul 2011 to 30 Sep 2011)
Note (1): The number of days insurers take to process claims includes the time it takes to obtain medical records from claimants or medical institutions.
(II) Letter of guarantee and medical records costs
When you are hospitalised, if your hospital can obtain a letter of guarantee from your insurer, you can reduce the amount of your upfront payment to the hospital. A letter of guarantee is an assurance of payment offered by insurers to hospitals, on behalf of a patient, for the portion of the hospital bill covered by insurance.
To process claims, insurers may require your medical records. Either you as a claimant, or your insurer, can request medical records from medical institutions. This request however, usually comes at a cost from $75 to $250. The following table shows that all insurers currently absorb the cost of obtaining medical records.
\tProvides Letter of Guarantee\tAbsorbs costs of obtaining medical records
AIA\tNo\tYes
AVIVA\tProvided to selected Restructured Hospitals and Institutions*\tYes
Great Eastern\tNo\tYes
NTUC Income\tProvided to selected Restructured Hospitals and Institutions*\tYes
Prudential\tProvided to selected Restructured Hospitals and Institutions*\tYes
*The restructured hospitals are AH, CGH, NUH, SGH, TTSH and KTPH. Please check with the insurer for more information.
(As of November 2010)
Note (1): Insurers who absorb the cost of obtaining medical records, do so in more than 90% of cases. There might still exist situations where the claimant is requested to pay for medical records.
Last updated on 18 Oct 2011
moh.gov.sg/ -
River:
And yes, all of them allow for riders to reduce hospital bills to ZERO. However, the premiums are not cheap to me.
There is still insurers that provides rider plan for full claim?
NTUC ceased their in 2008 :moneyflies: -
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