Doubt no more. If you can afford it, upgrade your basic MediShield to MyShield Plusto get free coverage for children. MediShield is meant for use in class B2 and C wards in public hospitals and will not be adequate for treatment in private wards and hospitals. Of course having basic MediShield is still better than not having anything at all. But you are seriously compromising your options by not upgrading.
The benefits of upgrade your basic MediShield is that your hospitalization expense is as charged, without sub-limits on ward charges or surgery each day. That is no cash premium involve, as MyShield Plus can be pay from your Medisave account.
The benefits of upgrade your basic MediShield is that your hospitalization expense is as charged, without sub-limits on ward charges or surgery each day. That is no cash premium involve, as MyShield Plus can be pay from your Medisave account.
It is recommend that an upgrade be done for the baby right from the start. You may think, what's the hurry? But the longer you put it off, the higher the risk of your child developing a medical condition that may cause you financial burden.
The next question: Which plan should you choose?
None of the Shield plan insurers – AIA, Great Eastern, NTUC and Prudential – offer any free coverage for children. Aviva is the only insurer among the five to cover free coverage for children. This could be very helpful for parents who are worried their children may have such problems. If both parents of a child are insured under Aviva's MyShield Plan 1 or 2, all their children will be covered under MyShield Plan 2 for free up till age 20.
Buying a rider
Another important factor to look at is buying a rider to cover the deductible and co-insurance portion of each hospital bill.
For each bill, a minimum sum known as the deductible and a certain percentage of the balance, called co-insurance, will not be taken care of by the Shield plan. Aviva's rider covers either co-insurance or deductible or both, so a premium for its rider is cheaper than for those of other plans. For example, the total premium for an Aviva rider (Option A which cover co-insurance benefit) from one to 100 years old is $39,000, but the premium is $100,000 for Prudential's rider.
To end up spending the same $100,000, someone on the Aviva rider would need to be hospitalized some 20 times (A1 Class Ward) before the amount they pay for deductibles makes up the $61,000 difference. Getting the Aviva plan means that ‘you won't be pre-paying for something you may never use so many times.
http://imoneysg.com/insurance/health-insurance/free-health-insurance-for-children.html
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