Asked 2w ago
I'm planning to get my first health insurance policy, but I am unsure of which plans to get. Is there any reason that Class A/ Private is preferred rather than the Class B1 types? I see that staying in a private hospital/Class A is more of a luxury. Is there any other factors that I have failed to consider?
I think the main difference is the claim limits/ caps that lower tier policies have.
Usually the private and class A policies usually have the highest claim limit and also for most treatments, they are on a as charged basis rather than claim up to a certain amount.
So you might want to take a look at that as well.
My philosophy for healthcare insurance is very simple - get the best coverage that you can afford. After all, it is easier to downgrade than to upgrade. This is because the latter usually involves medical underwriting.
In your situation, you may wish to consider whether you prefer to have the option to seek treatment in private hospitals, or if you are comfortable with treatment in public hospitals only.
Additionally, you may wish to consider the ability to choose your own doctor, as well as the waiting time involved for treatment.
Without a doubt, you should also consider your affordability in the long term. With this in mind, it will be good to plan your cashflow to help you make a sound decision.
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When you're younger, you want to quickly get back up and get back to work so some may choose the more premium option. It also depends on the type of illness you have. The less serious the condition, the less need for higher class wards as there is less need for specialised treatments/attention/etc.
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