Tan Kin Lian's Blog: Avoid private Shield plan

Tuesday, July 08, 2008

Avoid private Shield plan

Dear Mr. Tan,
I am currently under a private Shield program with Plus Rider (the premium has gone up quite a lot as compare to last year) with one exclusion condition. I am also cover under my company's hospitalisation scheme. Do you think I should downgrade to Assist Rider with a lower premium but have to co-pay of up to $2,000 - or should I move back completely to Medishield.

REPLY
It is better to move back completely to Medishield. there is no need to pay a lot of premium for a private Shield plan, when you are covered by your employer.

If you are healthy when you retire, you can upgrade to a private Shield plan at that time. If you are not healthy, you can stay on Medishield. For older people, Medishield is quite satisfactory. Private Shield is very costly.

7 comments:

Crazy Aries said...: Move back to medishield only if you prefer to downgrade your ward to govt. hospital B1 or C. (medishield co-pay is $1K to $1.5K)

I suggest you to stay at private shield but remove the rider provided that you don't mind to pay the $2K co-pay.

Shield plan is design to claim big bill and out-patient treatment for cancer treatment & renal dialysis.; July 08, 2008 9:54 AM
zhummmeng said...: Correct, stay where you are if you can afford but maybe the rider is a duplication. H$S is for big bill, catastrophic bill and not for ikan bilis. Come on, where have you left your rationality and let kiasuism take over you. Or is it the suggestion of your agent? He is not kiasu he is kiasi.; July 08, 2008 2:01 PM
Khiat Han Hwee Adrian said...: I will suggest that you stay in the private plan. You can remove the rider as you are covered under the company.

Don't be penny wise pound fool. You will be surpised one day if you see that some of the the medication you took are not subsidised by the government even though you are at the lowest ward.

Think carefully. If that extra few dollars from Medisave won't cost you an arm, I'll advice you to stay on. You are using your medisave money for your medical bill eventually.; July 08, 2008 2:09 PM
Crazy Aries said...: recommend to look here why it good to have a private shield comparing to medishield
http://akhiat.blogspot.com/2008/06/my-recent-claims-experience.html; July 08, 2008 2:55 PM
Raymond T said...: If one wants to keep the rider, which gives better value for money, Plus Rider or Assist Rider?; July 08, 2008 7:57 PM
Khiat Han Hwee Adrian said...: Hi Raymond,

I believe NTUC Income is trying to get their policyholders out of the Full Rider Scheme. The premium will gradually increase over the years to a point that their policyholders view the rider as too expensive and switch to the assist rider.

In my opinion, the Assist Rider is value for money. There is a cap on the maximum amount you need to pay and the amount can be easily fork out from your Medisave Fund.; July 09, 2008 1:06 AM
Wayne said...: I think the beauty of having private shield plan in our national health care system is the choice and variety, and it enforces that private shield plans provide a substantial "extra offering" they are providing for the "extra premium" they are collecting, in comparison to the govt's Medishield Plan which also do not stay put in one era but continues to enhance itself so that the private providers are kept on their toes.

In the matter of this discussion thread, I am for the idea of maintaining the Plus Rider (I have the Preferred Plus Rider and will maintain it this year on renewal), until the premiums are more costly than Prushield's equivalent plan. That's my benchmarking.; July 09, 2008 11:58 AM