Hi, I have bought a health insurance with Great eastern for my mum. It is the P plus plan without rider.
She is 66 years old this year with mild high blood pressure. Due to the high premium, I am thinking to downgrade the plan to an A plus of B Plus. I understand these 2 plans do not cover private hospital.
Is this advisable to do downgrade the plan now with her old age and health condition
I recommend to downgrade to A plus and since your mum is 66 years old, i guess the concern for you is the hefty medical bills in any event she is hospitalised. Does she need private hospital for recovery? More elderly people would tend to prefer and are okay with government hospital coverage. Plus there are more people there to talk to them. Normally, i will ask for their opinion, which one they prefer.
Thanks Alfdorel. But understanding my mum, if I ask her opinion she will want the lower plan so I do not need to bear such a high premium. :(
Yes, I agree private hospital is not necessary as currently her current check-up are all done via SGH (Govt hospital).
However, I am afraid in event of any hospitalisation in future (touch-wood!) where she need specialist treatment, private hospital usually provide better treatment and higher efficiency.
If I downgrade to a lower plan now, future upgrading will be more complicated as it need to undergo fresh underwriting where her pre-existig condistion might exclude her in certain coverage.
I still can afford the high premium for the P plus plan (without rider), but after doing my caluclation, it is more worthwhile to get a Aplus plan + rider.
P plus plan (without rider) Premium : 2,278 where 1000 CPF and 1,278 cash
A plus plan (without rider) Premium : 1,439 where 1000 CPF and 430 cash
Rider Premium : 885
A plus plan + rider premium: 1000 CPF and 1,315 cash
I am a GE agent, so i know. :p
Your mum has pre-existing condition? I understand your concern in wanting your mum to get the best coverage and treatment out there. While i apologised for being brutal and saying this, but i feel that older people generally don't require better services since they are falling ill due to age and everything. From my opinion, private hospital are more for younger - middle aged people since they still have a long way ahead of them.
If you are paying private plan, you still have the bear the co-insurance and deductible costs, you are paying $2.2k a year and yet you still have the pay additional cost when if any event of hospitalisation, compare to the A plus plan where the rider covers the co-insurance and deductible. The hospital bills, in the long run, can really kill you. So getting 100% coverage is better.
You are a fillial son so i know you want the best for your mother, i think eventually do what you think its best for her. No one can understand her better then you, or your situation. If your mum has pre-exisiting conditions, GE are still able to accept it. Is there any exclusions from the plan now?
Currently there is no exclusions from her existing plan. But she did claim once on her day surgery to remove a gall bladder stone.
Ya I agree with you. I done my caculation and an Aplus plan with rider is more worth it as there is 100% coverage and at approx the same cost of a P plus plan without rider.
But I also understand that government is coming up with the Medishield Life scheme around 2015 which I will believe will change the health insurance market when implemented. Your thoughts?
Having a bit of dilemma here... Should I bear the high premium and < 100% coverage on the P plus plan without rider for this year and decide after the Medishield Life is implemented in 2015?
Medishield Life certainly will have drastic changes, it only allows medishield to be lifetime and enhance the benefits. Now we have no information on exactly what benefits they are talking about but it will definitely have changes in the insurance industry.
Honestly, i think you should just go for a plus plan and get 100% coverage, it's just not worth it to pay so much yet when something unfortunate happens you have to pay the fees.
When your mum went to remove the gall bladder stone, which hospital she went?
She went to SGH for the gall bladder stone remover. As I have not bought any rider for her previously, is underwriting required for the rider for the A plus plan?
Yes, there will be medical underwriting involve if you were to downgrade the A plus plan and if you want to get the rider.
However, there is a way. Dont get the rider first, and let the plan inforce, then after that go apply for the rider coverage.
Talk to your agent. He/She should be able to help you with that. :)
Hi Alfdorel, many thanks!