Anonymous

13 Jan 2021

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Is it worth to upgrade a government-Class A ward hospitalisation plan (100% coverage) to a private ward (95% coverage)?

I currently have a government-Class A ward hospitalisation plan (100% coverage). I am thinking of upgrade to a private ward plan. However, the coverage would drop to 95%.

Let's assume that I can comfortably afford the private hospital plan, and that there are no major medical issues in my family history. Should I still upgrade just for the sake of the flexibility in choosing private hospitals in future?

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Benjamin Goh

13 Jan 2021

Financial Consultant at Prudential

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!

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Tan Wee Kiat

11 Jan 2021

Why do you want to upgrade though? Currently, I am in the dilemma of choosing between a government-Class A ward hospitalisation plan and a private ward plan.

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