Hospitalisation Insurance (H&S) - Seedly
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Hospitalisation Insurance (H&S)

Hospitalisation and Surgical policies also known as Health policies


168 Questions Answered





I’m 21 this year, currently serving NS and will ORD in 2021. I have the AXA Shield Plan A, which I got last year. Is it worth it for me right now?
Hey Anon, In general there are 5 things to cover for insurance: Death, Total Permanent Disability, Hospitalisation, Accident and Critical Illness (CI). Hospitalisation and Accident is normally the basic insurance people should have so it is still good you got it! You might want to consider getting an Accident plan for accidental injuries/death coverage next and consider progressing to a Life Plan/CI plan. Financial planning is an integral part of life. You can find me at this platform to find out more.


How to decide between Elite-P and Classic-P or Elite A and Classic A for Great Eastern Hospitalisation Plan?
1. Start with the Ward Options A = A Wards in Govt & Restructured Hospitals P = Private Hospitals Private Plan allows you to go to restructured without additional cost. but if you are on an A plan and you wish to go Private, you can still go but only a portion of the bills will be covered. 2. Rider ELITE vs CLASSIC As mentioned by Jun Xi, he has given the examples. on how the classic and elite plans work. The benchmark is actually $70,000 for medical bills, that is where the plans converge. Classic: 70,000 5% or Deductible = $3.5k Elite: 70,000 5% = $3.5k so any hospital bills below $70,000, means your out of pocket expenses will be lesser if you chose the ELITE rider. Who buys Classic: People that are Premium sensitive, or sits well with their financial situation. Having cover is better than none. Who buys Elite: People who want a fuss free simple 5% out of pocket expenses on all hospital bills. No one can tell the future, as to how large a bill will be, a day surgery can set one back at about 30k. but it hasn't hit the 70k bill yet. Hope this helps.


Is it worth to upgrade a government-Class A ward hospitalisation plan (100% coverage) to a private ward (95% coverage)?
Hi Anon this is a very good question! There is no correct answer for this question. However I personally think that it is a good investment to make if you have the budget to do so. This is why: 1. Private ward coverage means that you're given more flexibility over hospital choices 2. It gives you a peace of mind in the future where if you are left with no choice but to have to be warded in a private hospital that at least you know you'll be 95% fully covered That said, just note that in general private hospital ward premiums will increase quite significantly compared to govt Hospital ward premiums as you grow older and it has to be something you're comfortable with. I'm sure you're aware that Private Hospital insurance premiums increase on an age band basis? If you think my advice makes sense, don't hesitate to contact me or learn more about what I do!


Should I still buy insurance if my companies has pretty good health coverage (group hospitalisation, group term life, group dental, group personal accident, group outpatient etc.)?
Hi Hao Yuan, I highly recommend that you get your own personal policies to cover yourself. Company benefits only last as long as you are employed with the company. You might change your job, get retrenched, take a career break, etc, during which either your benefits might become worse, or you would have no coverage at all. And ultimately, you will retire some day, and at that point you will have no coverage. Even if you retire earlier, say at 55, your health has to be good to get the coverage you want. Even if you have money, but you don't have health, you won't be offered coverage. You are really buying coverage with your health, and paying with money. Thus it is always prudent to ensure your own policies are in place so that you are adequately covered, and there is no time better to do this than when you are young and healthy. I have seen too many people in their late 20s and 30s with minor issues and getting exclusions or loading for their plans, and a recurring theme among them is that they wish that they settled their coverage earlier when they were healthy.


Should I downgrade my insurance plan due to rising rider costs?
Before you downgrade, i'll just share some stuff w you. Like other countries, the problem of an ageing population will only get bigger and bigger as standard of living gets better. When people live longer, it will only mean the healthcare budget has to increase to cope with it. Unlike normal inflation of 2%, medical inflation is around 10% which results in the increase in premium every year. If one expects the gov to subsidise more, where do you think the money will have to come from? For me, if the increasing costs becomes an issue, i'll just have to find other ways to supplement it through eg extra hours, invesments... I'm okay with sharing ward with others but i dont want to delay treatment just because there isnt enough beds/equipment available in the public hospitals. Just remember upgrading back is more complicated than downgrading. At the end of the day, its up to you to decide, give some time and consider. :)


Would you recommend going for a private hospital plan or a restructured hospital class A plan?
Hi anon, Generally the price difference between private and restructured hospital plans is quite low when you are still in your 20s. This changes considerably when you reach your retirement. However, you may downgrade the coverage then without any medical underwriting. Contrast this with a scenario, for example, where you took a restructured plan for coverage when you are in your 20s. When you reach retirement age, you decide that you want to upgrade the coverage to a private plan. This will require medical underwriting and there is a high chance that health issues may have set in already, which makes it hard, if not impossible, to get upgraded. Thus I personally choose a private hospital plan with plans to downgrade coverage in time to come. However, this also depends on your budget, and don't feel pressured to take a private hospital plan if you do not think that it is affordable for yourself.


Should I appeal for my hospitalization plan exclusion (Peptic Ulcer/Gastritis)? Policy entry date: Dec 2016?
Hi there! In general the exclusion is normally included at the start due to any pre-existing medical conditions. However I would think that it is worth seeing a specialist for the latest medical report. Before that I would personally consult with another agent to get their opinion. In response to your questions: 1. Any increase in premiums would depend from insurer to insurer as their risk appetite may be different. However I would think that if you're in good health and have records showing you're fully recovered that your premiums won't be increased 2. It depends on the recovery timing of the illness and the period in which relapse is most likely to occur. If you are open to this idea, you may certainly wish to contact me and I can help you look at your hospitalisation plan in more detail and advise you accordingly.


Accept hospitalisation insurance with no exclusions but worse benefits or take on one with exclusions but have better benefits?
Talk to your agent from insurer B. Is there a way to remove the exclusion? Best time to get this discussion done is near / during month / quarter / year end period when insurers are pushing for closing sales.


Is AIA Healthshied Gold Max B with rider, Coverage, A ward of Government/ Restructured hospital considered as a H&S plan only?
Yes, this plan is a hospital and surgical plan only. Claims may only be admitted if you are hospitalised or if you are undergoing day surgery or outpatient treatment for certain conditions like cancer or kidney dialysis (if I recall correctly). Believe there is a small death benefit component as well.


Should I remain on my old hospitalization plan (100% coverage) or switch to the new ISP (with 5% co-insurance)?
Dear Poster, This is a very pertinent question that is faced by a majority of my clients. Currently, for those who are under the 100% plans, it mainly falls into two categories, Prudential and Non-Prudential. As we are the only company to employ a claims-based approach to ensure that premiums do not rise significantly, even with the 100% coverage, we are the most affordable to date. The point which i share across always, is whether you feel that the 100% coverage is important in your personal portfolio. If yes, then continue to provision for the added costs. However, there is a possibility that you will be priced out of the 100% coverage, as most companies are now shifting towards cost-mitigation in terms of hospitalisation claims. Unfortately, your shift to the 5% plan, would be a sooner or later proposition, if there is a continued trend of increased premiums. Hope i was able to address your queries!