Important to cover the Deductible and Co-insurance gap

All Shield Plans has Deductible and Co-insurance, one should understand the impact of these and takes up appropriate rider to cover the gap.

For those who may have employer medicable benefit, they may not think this is necessary, but if sixth sense tells you some illness is befalling, please consider to have such rider in place.

Incomeshield Plus Rider is one such rider, for Incomeshield Plan.

Other insurers have their own rider plan to be offered as well.

My advice is to cover the gap.

1. Plan Basic that pays for a long stay in KKH

(Double Click on the bill image to get full details of the bill)
This is a case of 44 days stay in KKH hospital for a bone marrow tranplant procedure.

The whole bill of $20,848 was cushioned off and policyholders pays only $2377.42

The Deductible is cumulative over the policy year, and it has been taken care of in earlier hospital bill.

So in event of large bill, and insured that stays in lower ward or the ward of the plan, will be covered well by the Shield Plan.

2.Plan Basic can cushion high bill

(Double Click on the bill image to get full details of the bill)

This bill is an operation due to a traffic accident done at Gleneagles and was insured with Enhanced Incomeshield Plan Basic.

Total operation cost $21,551.48 and Incomeshield Plan Basic pays $7898.17 ( after minusing Deductible $2000 and 10% co-insurance from $10,775.74 )

For large bills, it can cushion off quite a sum.

This policyholder has another H&S plan that pays about $3000.

3.Impact of inappropriate Shield Plan for Private Hospital care

(Double Click on the bill image to get full details of the bill)

I have a client who have an Enhanced Incomeshield Plan Basic but went for a hysterectomy operation at Gleneagles.

Without Plus Rider, the Deductible and Co-insurance will impact on such bill.

My intention to write about this is to let you know that if you did not take the right plan for the right medical care, the bill to be settled can be disappointing.

Whole operation and stay in hospital in Gleneages cost $5001.64

Pro-ration for staying in Private Hospital for Plan Basic is 50%, meaning all items will be computed as 50% of bill.

So the bill is taken as $2500.82.

Plan B Deductible = $2000

Balance = $500.82, 10% co-insurance for this = $50.08

This Incomeshield pays $450.74 for this claim.

If Policyholder has the Incomeshield Plus Rider, the claim will be $2500.82

I would encourage most to take the Incomeshield Plus Rider to make the plan cover the Deductible and Co-insurance if one has no other coverage.

In this case, she has another H&S plan which will pay the bill.

For such private hospital care, it is best to have Plan Prefered with Plus Rider in place to make it a fully paid plan. If this is in placed, the full $5001.64 will be fully paid plus pre & post hospital bills.

No minimum pay needed for new credit card

A RADICALLY new type of credit card with no minimum income requirement and just $500 in credit has arrived in Singapore.

Is this radical or ridiculous?

The Straits Times cartoon depict something that is real and can be quite an issue as students start to live on credit and interest roll over.

Should this be encouraged? Will holding such a credit card be then a trend among the students?

I hope the authority and MOE will look into this.

Should we start to allow our children to start living on credit at such a young age?

Can you afford to stay too low a ward to be given proper care in restructured hospital?

My brother unfortunately, last year had a motor accident and sent to Alexandra Hospital and warded in C ward.

After some weeks was discharged. He went through theraphy but still was in pain.

We thought he was pretending and did not pay attention to him.

Alexandra Hospital doctor told him, his injury cannot be operated on.

After one year of pain, he sought an Orthopaedic surgeon in Gleneagles.

The surgeon discover the injury was actually more than what Alexandra Hospital found.

He had another fracture not discovered and that caused the pain for so long.

He under went the operation and cost $21,000 plus as in earlier posting on the bills.

Is C ward patient so lightly treated, because the patient is seen as poor?

I am quite surprised that AH doctor told him, he cannot be operated on, but when refered to private hospital, more injury was found and he could be operated on.

Is this a lapse on Alexandra Hospital doctor? Or is it because he is a C ward patient?

After the operation, his pain ceased and he could raise the two arms which was not able to be raised before operation at Gleneagles and AH doctor told him his condition cannot be operated on then.

Is this skill of surgeon or money talks?