Hospitalisation Insurance (H&S)
Asked 2w ago
Hi all expert, regarding hospitalization plan, i did some research through seedly and understand that there's currently up to 7 company that provide the integrated shield plan, there's just too many differences for me to select, to me i just care about the best claim process and also widest coverage for hospitalization, can u guys recommend? thanks!
Top Contributor (Jan)
Very briefly, all shield plans are here to achieve one purpose, which is to cover your hospitalization bills, and any associated costs relating to your admission, both before and after.
On that fundamental level, they are largely the same.
However you are right that between the 7 companies, there will be minor differences in their riders, coverage, etc. This is natural, if the plans were all similar down to the last detail, then you'll have a price war and a race to the bottom.
Claims processing is quite similar as well, and any insurer has the right to reject a claim if they feel that more evidence is needed. So there is no sure winner as to who has the 'best' claim process.
Lastly, what do you mean by 'widest coverage'? The pre and post duration? The claim limit? The listing of panel doctors that you can consult? All insurers will be different on these aspects.
I think in regards to hospitalisation plan, there are guidelines set by MOH so that all insurers have to follow those guidelines actually.
What are you looking at for widest coverage? Do you mean you are looking to be covered up to private healthcare? Just for knowledge, hospitalisation plans now have a co-insurance component, so you will still have to pay a portion of the medical bills.
I think in terms of the claim process, Prudential has been pretty smooth as my father-in-law is a client and also has been in and out of hospital the past 2 years and things have been pretty smooth.
I think compared to the other providers, personally I feel that Prudential's hospitalisation policy is the most straight forward, cause we don't have too many variations of plans and riders, so that also might be something you can consider since most of us do not like over complicated things
Top Contributor (Jan)
Here is a comparison from Ministry of Health on the various integrated shield plans available in the market: https://www.moh.gov.sg/our-healthcare-system/medishield-life/about-integrated-shield-plans/comparison-of-integrated-shield-plans
As you scroll down the page, you will be able to see the claim processing time that the company take to process the claim. That being said, the actual claim situation may differ, depending on the complexity of the claim and how experienced your agent is in helping you with your case.
On the whole, you may wish to consider the option from AIA. Here is some information from the product brochure: https://www.aia.com.sg/content/dam/sg/en/docs/product_brochures/medical-protection/aia-health-shield-gold-max-english-brochure.pdf
I have been in the financial services industry for over 9 years now and I am certainly impressed with the claim experience from the company itself. Furthermore, AIA has exclusive partnership with Medix and WhiteCoat, thereby extending the range of coverage that you will receive.
Through its panel doctor, we will cover for up to 13 months pre-hospitalisation and 13 months post-hospitalisation, ensuring that you are adequately covered for follow-up reviews. This is also one of the highest in the industry.
Additionally, we have one of the most number of panel doctors in the industry. This is fundamentally important to ensure that you get the right medical attention with mininal cash outlay (partly because of the compulsory co-payment).
Feel free to let me know if you have further questions or concern.
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