FROM A POLICYHOLDER
Dear Mr Tan
A few years back, my family upgraded Incomeshield plan from B to A.
For me personally, should I be hospitalised, I would like to stay in a subsidised ward, ie B2. That being the case, since the deductible and co-ins is higher for A plan than B, isn't it advisible for me to downgrade from Plan A to B?
We advise our policyholders that if they are comfortable with B1 or B2 ward, there is no need to purchase a higher medical plan and pay a higher premium.
As we grow older and move to a higher age-band, the premium will increase. We should move to a lower plan so that the premium remain affordable. There is a higher government subsidy for restructured hospitals at the lower class wards.
If our policyholder is insured under a higher plan and opt to be treated in a lower class ward, we apply the deductible of the lower ward. This is reflected in our FAQ: http://www.income.coop/insurance/incshield/faq.asp.
Tan Kin Lian
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