Wednesday 8th Feb 2012 02:26 PM
Comparison of Medishield Plan (Claims, LOG)
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Sun, 07/06/2008 - 00:47
This is the information provided by MOH
http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342
Interestingly, the claims rate shows a pattern which is very unexpected as most ppl think that NTUC claim rates is poor.
The figures show that the ranking should be GE, NTUC, Aviva, Pru, AIA.
Another important note is on Letter of Guarantee
[QUOTE]Letter of guarantee and medical records costs
When you are hospitalised, if your hospital can obtain a letter of guarantee from your insurer, you can reduce the amount of your upfront payment to the hospital. A letter of guarantee is an assurance of payment offered by insurers to hospitals, on behalf of a patient, for the portion of the hospital bill covered by insurance.
To process claims, insurers may require your medical records. Either you as a claimant, or your insurer, can request medical records from medical institutions. This request however, usually comes at a cost from $75 to $250. The following table shows how some insurers require you to pay for medical records, while others themselves absorb the cost.[/QUOTE]
Only NTUC Enhanced Incomeshield provides.
In addition, only NTUC, PRU and GE absorb cost of obtaining medical records.
Wow.. very detail. Just wondering do people normally think that NTUC claim rate is poor? More often i heard is AIA.
In my line of work, yes i have come across people who feel that NTUC claim rates are poor. It could be due to one or two articles in the news about people having difficulties claiming.
But I am glad that MOH has been making things very transparent. First the hospital bills, then shield plans.
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MSN: Kelvintcw@hotmail.com
But I am glad that MOH has been making things very transparent. First the hospital bills, then shield plans.
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MSN: Kelvintcw@hotmail.com
NTUC has the biggest pool of shield policyholders. If you go by absolute numbers, it will not be unusual for them to have more cases of people having difficulties with their claims.
Having said that, the claim experience will also depend partly on whether you declare all information accurately during your application.
I had a friend who applied for a shield plan by a certain company. She told her agent about her back problem but was told by her agent that it was not necessary to include it in.
While her plan was approved without any fuss and exclusions, she is unlikely to be able to make any claims for her back condition in the future as the information is clearly material.
Some unethical agents might put their interests above that of their client. Unfortunately, it might take years or even decades before the client realises this. By then, the damage has been done and might be irrepairable.
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http://www.lioninvestor.com
i think shd look at how easy to claim rather than how fast ... phew!
Sad to say, unethical agents are more concerned with earning commission by quickly closing a deal rather to help the client with listing down the health problems which might end up being rejected --> losing a deal at the expense of doing extra work.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.
i am also working in the sales line (besides my full time job)...and sometimes i get really tempted to close the deal at all costs...but luckily i did not...
Lucky you didnt...good for you. Got to be ethical...what goes around comes around.
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Contest theory: More entries = More chances - Concept of Probability.
Time & Tide waits for no Man.