6563 2233. Save this number now.

Featured6563 2233. Save this number now.

By now, you probably have received a mailer telling you that on 1st May 2017, your hospitalisation and surgical plan ( Supreme Health and Total Health) will be going through PREMIUM REVISION.

Oh no. Again?

Yes, the 3 guarantees in life. Death, Taxes and Rising Health costs. I will talk about the issue of rising health cost in a separate post.

A revision has to come with justification. A revision has to come with additional benefits. In this post, I will talk about the MAJOR additional benefit that the company have added that makes us DIFFERENT.

PRE-AUTHORIZING OF CLAIMS AND DIRECT SETTLEMENT 

Most of my clients will call me when any mishap happened.

“Doctor ask me to go for a surgery…..can claim anot?”

I will then check if they have any exclusions in the policy, before assuring them that as long one is hospitalised for 12 hours or more with a room and board charged or a surgery listed in the table of surgery, you can be covered.

Although we provide a Letter of Guarantee, one have to pay an upfront payment of estimated charges and claims is still subjected to approval and subsequently reimbursed.

Now, all these will change.

In a non-emergency case, you can call 6563 2233, 3 business days prior to pre-authorise your claims. Once approved, you do not need to pay an upfront deposit. Just go for your procedure, while we will settle the claims directly with the hospital. You just need to recover well and not have to worry about the claims or cash outlay.

Pre auth

PANEL OF SPECIALISTS

Have a medical issue and not sure who to consult? Which doctor is good? Which doctor is recommended?

Call 6563 2233.

Not only do we have a panel of 130 specialists across 20 medical disciplines, we will book an appointment for you, saving you from all the hassle and time. The panel of specialists are selected based on:

  1. Minimum 10 years of practice
  2. Accredited by Singapore Ministry of Health Specialists Accreditation Board to practice as a specialist
  3. Registered under relevant speciality by the Singapore Medical Council
  4. Untainted background
  5. Not associated/penalised for any major medicolegal and negligence practices

This ensures that you get the appropriate medical attention needed.

List of Panel of Specialist (I will be doing an extensive post on the list next)

appt

And of cos, Health Connect is not to make my job easier. It is to make the process easier for you. I can still be contacted at 9459 7410 for your queries.

This video below sums it all up.

 

Health Connect Video

By now, have you remembered the number already?

6563 2233

 

 

 

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FAQ on recent hospital plan “rider” announcement.

FAQ on recent hospital plan “rider” announcement.

Q: What is Medishield Life and Integrated Shield Plan(IP)?

All Singaporeans are in this opt-in insurance scheme called Medishield Life. Medishield Life is the basic hospitalisation cover which provides sufficient coverage for bills incurred in B2/C ward. Premium is paid using your CPF Medisave.

An Integrated Shield Plan works as an “upgrade”, where you can choose to pay an additional premium so as to cover for B1, A ward (Government Restructured Hospital) or Private Hospitals. However, even as most plans are As-Charged, you are still required to pay a deductible (up to $3,500 depending on the ward) AND 10% co-insurance, if hospitalised. This can also be paid using CPF Medisave. moh1

Q: What is a “hospitalisation plan rider”

6 insurance companies in Singapore provides a rider plan that covers for Deductibles and Co-Insurance (that was not covered by IP) and added benefits. With a “hospitalisation plan rider”, you are essentially covered 100% (provided there are no exclusions in your plan), in an event of hospitalisation or surgery.

Total Health

Q: So what happened on 8th March 2018?

The Ministry of Health has announced that, from 2021, all rider plans will have to come with a MINIMUM of 5% co-payment with you. Instead of covering all your bills, you are now required to pay for 5% of your hospitalisation bills, even if you have a rider plan. Treatment must also be pre-authorised and approved (unless due to emergency).

Q: Walao! 5% is a lot leh!

Yes, 5% can still mount up to hundreds of thousands if you have a chronic illness or faces lengthy stay in a hospital. In order to curb this, MOH has restricted the cap to $3,000. Even if the medical bill is $100,000, you only need to pay a maximum of $3,000 and part of it can be paid using your CPF Medisave (depending on the type of treatment).

Q: What if I already have a full “hospitalisation plan rider”?

You will still be covered 100% as per contract terms.
However, it is not sure if insurance companies will change all rider plans to NEW rider plans from April 1, 2021. Stay tuned for updates on this blog.

Q: Can I still buy hospitalisation plan rider now?

Yes, you can! And you should! From now until April 1, 2021, you can still be covered 100%. You will be informed of the transition when the new rider plan scheme starts.

Q: Why so confusing? at first 100% and now 95%?

Healthcare costs have increased significantly over the years because hospital and doctors have charged patients the upper limits of medical costs when they seek treatment. For example, a patient was charged $70,000 for a lump removal surgery because she has a 100% hospitalisation plan rider when there was an equally effective alternative procedure at $5,000. Hospitals have also charged for unnecessary tests and scans when they know that patients are fully covered by insurers.

In 2016, the average medical bill size for full rider policyholders was about 60 percent higher than the average bill size for those without riders, even though rider policyholders are younger and generally in better health.

As such, IP and rider premiums have raised by up to 80 percent (depending on different plans).

Q: So, does it means that new rider plans will be cheaper?

New rider plans are EXPECTED to have lower premiums. Insurance companies are given a year to come out with the new scheme and you can choose to switch to the new plan for premium savings.

Q: How can I save on my current premium?

If you are on the Private Hospitalisation Plan Rider and feels that the premium is too high, Great Eastern has already launched a new plan last year to help you save up to 40% of your premium. Do check out this post for more details.

Q: Not my fault, why have to penalise me for it?

While it is easy to point to hospital and clinics for overcharging, the purpose of this move is to include patients in choosing the appropriate medical care. With the spotlight on this issue, hopefully, it serves are a curb to redundancy in cost, consumption and servicing in the healthcare industry.

CNA

Ivan Z: Premiums have increased by almost two folds over the last 5 years, particularly in the Private Hospital plans. Having done countless of claims, I have seen bills ranging up to $100,000 charged to the patient and subsequently, to the insurance company. As everyone (MOH, Insurers, Consumers) tries to find the best solution, consumers are always the ones carrying the load of either paying more in premium or in taxes. While the intention of including the educated population in the stakeholding of treatment seems fair, it remains to be seen if this policy actually curbs over-charging by healthcare providers, whose primary objective should be quality of care and not the bottom line.

 

 

 

2.05% returns(interest) every year!

2.05% returns(interest) every year!

If you have a lump sum of $10,000 to $100,000 in cash or in Supplementary Retirement Account (SRS), instead letting it sit in the bank or CPF at 0.05%, check out this offer for 5 days only.

  • 3 years endowment plan
  • Guaranteed Capital upon maturity
  • Guaranteed 2.05% per year Payout
  • 2.07% if you choose not to collect your yearly payout

Which means, for every $10,000 you save with us, you will get EITHER:

  • $205 every year for 3 years or
  • accumulate to $630 after 3 years

As there is a limited tranche, contact me at 94597410 now!

Illustration of $100,000

1505127972321

1505128105619

 

 

Everyone is raising their hospital plan premium. But I can help you save 50%

Everyone is raising their hospital plan premium. But I can help you save 50%

Yes, you did not read wrongly. While every insurer is increasing premiums due to ” a higher amount of claims”, I can help you save on your premium if you are currently on a plan that covers for Private Hospital.

hike

As you know(or you may not), your hospitalisation coverage consists of 2 plans: An Integrated Plan with Medishield Life (IP) and a cash rider (so you don’t need to pay a cent if hospitalised). Before we continue from here, you must be familiarised with 2 terms: DEDUCTIBLE and CO-INSURANCE.

The concept of Singapore’s health care system is such that, you will never get fully subsidised for medical services. As such, when the government comes up with Medishield, the directive is that we have to pay a portion of it so that we do not misuse the privilege of healthcare subsidy or coverage. Hence, all our medical bills are subjected to deductible and co-insurance.

Deductible – The minimum amount you have to pay.

Co – Insurance – The 10% of the medical bill that you have to pay.

An example will be as such:

hosp claims

Now, you probably have taken up a Cash Rider that covers for the Deductible and Co-Insurance (hence, 100% hospitalisation cover). With the premium revision, all insurer’s cash rider are going to hit $500-$700 yearly. Instead of living with the revision (like our transport fares), the company have come out with an initiative for you to choose.

Enter the Total Health Platinum Select.

The Total Health Platinum Select covers for all hospitalisation in Restructured Hospital(Govt. hospitals) and Private Hospitals. For Restructured Hospitals, it covers both the deductible and co-insurance while for Private Hospital, it covers only the co-insurance (but not deductible of $3,500).

Erm, isn’t that a downgrade? Not if you use Health Connect.

(In case you do not know about Health Connect yet, please refer to my post about this revolutionary move here.)

Prior to hospitalisation or undergoing a surgery, if you had called Health Connect to pre-authorise your claims, GE will COVER THE DEDUCTIBLE of up to $3500. That makes it a full 100% hospitalisation cover for Private Hospital! All you have to do is to pre-authorise your claims before admission.

total health select vs plat

However, the drawback is, pre-authorisation takes 3 working days. Health Connect is only available during working hours. As such, my advice to clients is, if you take up Total Health Platinum Select, use Health Connect for non-emergency cases. For emergency cases, go to a Government Restructured Hospital. If you require hospitalisation or surgery, you can still be covered up till A ward (single bedded ward) and given $50 – $100 per day as a cash incentive.

total health select premium

As I promise at the beginning of the post, I can help you save 50%. The choice is yours to make. Get in touch with me to provide you with more information and scenarios!

 

 

 

ECC 2.0. Do I need this?

ECC 2.0. Do I need this?

If you are one of the lucky few (or unlucky few, as a client put it. “is it because we have a higher risk of cancer?”) to receive a red envelope from the company, I hope you have not thrown it away!

This Early Cancer 2.0 (terrible name, I know. You are not the first who thinks that) is an exclusive product being offered to selected policyholders. Sign up period ends 30th Apr 2017.

Benefits and Plan types

For the sake of those who had thrown it away thinking “aiya, another marketing brochure”, here are the benefits and plan types.

benefits

plan type.png

Cancer means cancer lah, what is Early Cancer?

While usually cancer is classified into 4 stages (as below), the presence of a carcinoma in situ (a group of abnormal cells that remain in the place where they first formed. They have not spread. These abnormal cells may become cancer and spread into nearby normal tissue.) is deemed to be a Stage 0 cancer.

stages of cancer

In laymen terms, Early cancer = Stage 0, 1 and 2. Major cancer = Stage 3 and 4 (verified by a medical doctor).

Then…..?

With medical advancement, close to 50% of Singaporeans diagnosed with cancer of various stage have survived for at least 5 years. A 5 year cancer trends report also suggested that the age-standardise incidence rates have increased 3 folds from 23.8 per 100,000 (1970s) to 64.7 per 100,000 (2014). Our lifestyle and diet are the main contributing factors of such calamity.

Treatments cost and loss of income are some of the considerations that can affect you and your family adversely. One may have to go through surgery and countless cycles of chemotherapy during this tough times. Diagnostics tests, rehabilitation costs and CT scans are not covered by hospitalisation/medical insurance.

The purpose of this plan is to provide an IMMEDIATE FINANCIAL GUARANTEE so that the people around you can continue to support their loved ones emotionally when tragedy struck. The lump sum payout provides one with a safety net for the period without income. Here is an account of a Singaporean who have benefitted from it.

Be assured as early as you can. While you can.