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Medical insurance (private vs medisave)


Mkl22
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Twincharged
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Anyone knows what are the difference of a private medical insurance (paid with cash) vs a medishield private integrated plan which allows you to pay via medisave.

I understand that you can add a rider(pay cash) to the medishield one to take care of the deductible and co-insurance. so in that case then there is no difference to the pure private vs the medishield private plans? or is there a catch somewhere? because it seems that the medishield private plans offer a better deal for the same type of benefits.

Edited by pChou
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Anyone knows what are the difference of a private medical insurance (paid with cash) vs a medishield private integrated plan which allows you to pay via medisave.

 

I understand that you can add a rider(pay cash) to the medishield one to take care of the deductible and co-insurance. so in that case then there is no difference to the pure private vs the medishield private plans? or is there a catch somewhere? because it seems that the medishield private plans offer a better deal for the same type of benefits.

 

U not insured by your company???/

 

 

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Anyone knows what are the difference of a private medical insurance (paid with cash) vs a medishield private integrated plan which allows you to pay via medisave.

 

I understand that you can add a rider(pay cash) to the medishield one to take care of the deductible and co-insurance. so in that case then there is no difference to the pure private vs the medishield private plans? or is there a catch somewhere? because it seems that the medishield private plans offer a better deal for the same type of benefits.

 

The main difference is choice: PAY BY CASH OR PAY BY MEDISAVE

 

Assuming the medical plan costs $2K per year - u rather pay by FULL SOLID cash (whether installment or not) from your own bank or u rather pay by medisave (i.e. "virtual" cash sitting idle in your CPF which u cannot withdraw at all whatever age u reach)???

 

Is that a very difficult choice? u decide...

 

 

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Medishield or medisave type of insurance has a yearly , lifetime cap and certain surgical claims limits. It is more for singapore treatments. Private insurance can cover wider even miscarriage, dental or treatment in other countries hospital.

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The old Medishield is no longer offered by CPF and is now taken over by the private ins. companies and offer these so call integrated plans.

 

So in a sense, they are all 'private' medical ins. now.

 

The difference is that you can use Medisave to pay the premiums for the integrated plans.

 

Both plans - you can insert a rider to take care of the co-ins. and deductible, but the rider can only be paid by CASH, even for the integrated plans.

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Turbocharged

U not insured by your company???/

 

Pls take up at least a private shield plan even if your company has insurance in place for you.

 

If u lose your job, it usually means end of coverage as company plans are usually not portable. (Think abt it, it will be a doulbe whammy to be diagnose with some serious illness, having to resign and lose that company coverage)

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Bro,

 

Does integrated shield plan cover doctor consultation for knee pain? Mine is GELife.

 

seriously, this kind also you cannot search? you should have been locked and not released

 

merged here

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Bro,

 

Does integrated shield plan cover doctor consultation for knee pain? Mine is GELife.

 

 

you not close with your insurance agent? why cannot ask him/her directly?

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I am surprise that Insurance agents earn so much.

 

Although the commission quantum (actual amount) per transaction is small compared to those earned by property agents, it is easier to sell insurance than properties.

 

In short, insurance agents can have not only a good but great salary too.

 

:mellow:

post-171878-0-04496600-1491399529.png

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Twincharged

I am surprise that Insurance agents earn so much.

 

Although the commission quantum (actual amount) per transaction is small compared to those earned by property agents, it is easier to sell insurance than properties.

 

In short, insurance agents can have not only a good but great salary too.

 

:mellow:

 

now you know why your agents will stop calling you after you stop buying new policy for the 6th year ... you diary will also get smaller too !!  [laugh]  [laugh]

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Twincharged

while i fully supported the idea of medical insurance. if this is being abused, it is a sad wod we are living in.

 

I think it is being abused by many. Recently, many of these insurers taking measures to prevent people from abusing it.

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