Sunday, July 15, 2007

A simple medical insurance product

Hi Mr Tan,

I find the calculation of the medical insurance claim to be difficult. Why should there be so many deductions from the hospital bill? Most people pay a premium, and want the insurance company to take care of the entire bill. Is there a simpler insurance plan?

------------------------------------------

REPLY

The simpler plan (which I prefer) is a plan that pays a fixed sum (say $200) for each day of stay in a hospital. This is simple for the customer, and for the insurance company. It is call a "hospital cash" plan.

This plan will pay a substantial part of the hospital bill. It also gives the incentive for the patient to find out the most cost effective treatment (rather than incur a large bill). The patient can consult the insurance company for advice on where to get the cost effective treatment.

This approach is best for all parties - the consumer, the insurance company and the medical provider.
Posted by at

2 comments:

Collin said...

Hi Mr Tan,

This hospital cash plan you are referring to, is it the same as hospital income plan?

Basically, it is just a plan to pay you a fixed amount of money daily while you're warded.

Does this money also pays for any surgical operation or other type of hospital expenses incurred to the patient? Or this plan just serves to replace your working income?

Thanks.

July 15, 2007 5:13 PM
Khiat Han Hwee Adrian said...

We should ensure our hospital bills are settled first. The shield plans available in the market are good in this area.

Hospital income benefit should be viewed as an extra income in event of hospitalisation. This plan is very useful for sales people and some self employed people such as Taxi Drivers and Hawkers, etc.

July 15, 2007 7:12 PM

Post a Comment

Subscribe to: Post Comments (Atom)

Blog Archive