Will you get a Private Hospital Integrated Shield Plan + Rider? Or settle with Class A Ward ISP + Rider?

Private Integrated Shield Plan (ISP) + Rider.

I am currently in the process of upgrading my Public (Class A Ward) ISP to Private ISP.

While I feel that that my current coverage of up to Ward A of a Public Hospital is adequate for me, I have decided to upgrade it further to cover Private Hospitals as well.

Reason being this greatly expands my treatment speed and options, as well as the quality of my hospital surroundings. Not to mention the access to more doctors for any second opinions if required. So it does make a pretty sleek difference to my quality of healthcare, which was the main reason that I was convinced to opt for the upgrade.

For a more comprehensive cover, I am also getting the rider which covers a good share of my co-payments portion (i.e. deductible and co-insurance).

Hope this helps.

- Jeffrey (jeffreyleezq.com)

If you feel comfortable with seeking treatments in government hospitals only, then go for such a plan that covers your needs adequately. Above all, you shouldn't be paying for coverage that you don't need or don't feel comfortable paying for.

But before that, I will suggest you to understand the long-term outlook and impact associated with the choice. Let me explain some of the key considerations.

Firstly, waiting time. In the event of an emergency, are you confident that you will always be able to get immediate attention at a public hopsital? I have shared in detail on why this is important here (Read Part 2.1): Is Integrated Shield Plan necessary in Singapore?

Furthermore, let's assume that you got the plan to cover you for treatments in public hopsitals in Singapore. However, you decided to seek private medical treatment for some reason. In this case, your final bill will be subjected to a pro-ration factor. In other words, the insurer will only consider a portion of the bill for claim assessment and you will need to pay the remainder yourself.

More Details (Part 3.1): Integrated Shield Plan Singapore: A Starter's Guide

Accordingly, the key question here is whether you should save the money from the premium difference and retain the risk on your own?

Next, it is important to realise that insurability is priceless. At this time, I am going to assume that you healthy and has no pre-existing medical conditions. In effect, all the seven insurers will welcome you with big open arms.

However, what happens when a serious condition strike? Will you be able to upgrade your plan without additional restrictions imposed? And in this case, will you look back and feel that you should have gotten higher covereage as you are able to afford it?

Of course, no decision is perfectly correct and we do our best to make the most prudent decision based on the current facts and how we feel about the situation. To repeat, it is perfectly fine to stick with coverage with public hospitals only, if and only if you are comfortable to retain the rest of the risk yourself. In like manner, if you choose to get private coverage as well, will affordability pose as an issue?

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