Being the sandwich generation, how do we determine which level of IP for hospital plan is sufficient for the elderly parents but not damaging to our wallet?

Gonna give you a thumbs up for this question. I hope you came here after reading the article I wrote on how we can provide for our parents. (Just hoping, it's okay if you didn't. You can still check it out haha)

​

I would ask my parents which ward would they be comfortable with and go with it.

If you are able to afford private level of IP for your parents for the coming years, why not? If you are wondering what are the benefits of holding onto a private ISP instead of downgrading, I actually went through it here.

​

For my case, if I have to pick either private or Class A public ISP, I would go for the latter - class A public ISP.

Most importantly, we would like to reduce the expenses so I feel adding on an ISP Rider would be essential.

Having the rest stating their answers. I give you food for thoughts instead.

1) Scenario 1: covered under Standard Plan. Most hospital bills hover between $15,000 - $35,000 depending on severity of sickness and days in bed, less ICU. This is covered together with the standard plan.

2) Scenario 2: B1 ISP. Pre and post hospital treatments are covered with a limited degree. Can enjoy outpatient and community hospital etc, almost 99.99% certainty, that subsidised hospital bill is covered in many cases.

3) Scenario 3: A ward government. Has better choices in government hospital. However, means testing has failed. If the treatment continues for illing disease, or if you are not eligible for subsidies (high income earner), you will need this Plan.

4) Scenario 4: Private Hospital. You need the best treatment and without any delay. No worry for cost. But premiums very high.

Go through the scenarios and think about it for what type of treatment you want.