Asked on 02 Jan 2021
For someone in their twenties with good health, would you recommend going for a private hospital plan or a restructured hospital class A plan?
Generally the price difference between private and restructured hospital plans is quite low when you are still in your 20s.
This changes considerably when you reach your retirement. However, you may downgrade the coverage then without any medical underwriting. Contrast this with a scenario, for example, where you took a restructured plan for coverage when you are in your 20s. When you reach retirement age, you decide that you want to upgrade the coverage to a private plan. This will require medical underwriting and there is a high chance that health issues may have set in already, which makes it hard, if not impossible, to get upgraded.
Thus I personally choose a private hospital plan with plans to downgrade coverage in time to come. However, this also depends on your budget, and don't feel pressured to take a private hospital plan if you do not think that it is affordable for yourself.
Private hospital. The additional few hundreds per year can save you so much time. Life is unpredictable, i rather pay more to ensure i get the services asap than to wait for a bed during urgent periods. If you can't bear to part with the money, try finding other ways to supplement it.
For me I would go for private plan (usually includes restructured class A too) if you have the spare...
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