Hospital Insurance
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daddy2007:
Yes, many insurers still do. And you are right. NTUC ceased theirs. That's why it is the cheapest around.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: -
For parents who claimed H&S insurance for their children, can share whether there is additional premiums in the subsequent years?
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KPB:
For parents who claimed H&S insurance for their children, can share whether there is additional premiums in the subsequent years?
Claimed 3 times over the past 2 years. So far no increase in premium for subsequent years
Think hospital insurance is not like motor insurance where the premium will depend on your claim rate -
daddy2007:
Thats very assuring, considering the premium is pretty reasonable.KPB:
For parents who claimed H&S insurance for their children, can share whether there is additional premiums in the subsequent years?
Claimed 3 times over the past 2 years. So far no increase in premium for subsequent years
Think hospital insurance is not like motor insurance where the premium will depend on your claim rate -
For CPF approved shield plans, premiums are fixed according to age bands like 21-30, 31-40, etc…
They should not increase based on claim rates, and the shield plans are guaranteed renewable no matter the claim rate -
daddy2007:
Yes, Aviva got!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: -
Great Eastern also has I thk!
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30plus:
Whichever you choose, remember to buy the rider to cover deductible and/or co-insurance. Personally, I think deductible is more important. Typical hospital bill for A ward in Gov hospital is about 2,000. Without a rider to cover deductible, you may not be able to a single cent.
Deductible (The amount payable by you) is fixed from $1k to $3k , depending on ward and plan you have chosen.
Co-Insurance (another amount payable by you) is 10% of the balance claimable amount after deducting the deductible.
If your are faced with a $100k bill after the deductible . You will need to foot the 10% of the co-insurance which amount to $10,000.
Of course it's best to cover the deductible and co-insurance.But if you are on a budget and can only cover one at the moment. My choice will be the co-insurance. as I will know the amount I'll have to bear for deductible ($3k Max) but for co-insurance , it will be 10% of final bill, which it can amount to anything.
Just my 2 cents worth.
Links for http://www.moh.gov.sg/content/moh_web/home/costs_and_financing/schemes_subsidies/Medishield/Disclaimer.html
Click on Continue after reading the Disclaimer. -
I think if you can afford it, just cover the deductible and co-insurance.
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