tag:blogger.com,1999:blog-17478547.post4990963309024735291..comments2024-03-27T20:17:30.597+08:00Comments on Growing your tree of prosperity: Debunking the arguments for Integrated Shield Plans.Christopher Ng Wai Chunghttp://www.blogger.com/profile/15534057160494859977noreply@blogger.comBlogger17125tag:blogger.com,1999:blog-17478547.post-21814386995648299482016-07-30T13:41:14.657+08:002016-07-30T13:41:14.657+08:00Christopher,
As always, thanks for your opinion a...Christopher,<br /><br />As always, thanks for your opinion and thoughts. I opted for a Class A ward plan, and the reasoning was in case of emergency, I wanted the optionality of being able to go to a private hospital. Ive heard horror stories of long queues at local/public hospitals for the B2 wards.<br /><br />Is this an example of fear mongering in your opinion, or you dont think this situation happens often enough to warrant concern?Bapuhttps://www.blogger.com/profile/01646608827710410674noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-55725286133190921972016-06-24T07:48:35.057+08:002016-06-24T07:48:35.057+08:00And I like to share this insightful post by anothe...And I like to share this insightful post by another intelligent financial blogger.<br /><br />http://sillyinvestor.blogspot.sg/2016/06/integrated-plans-are-not-about-hospital.html<br />monsterhttps://www.blogger.com/profile/13197093029731321326noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-13589584130669607392016-06-24T07:39:42.348+08:002016-06-24T07:39:42.348+08:00If you prefer to stay in B2 / C ward, then you don...If you prefer to stay in B2 / C ward, then you don't need any IP plan and you should stick with the Medishield Life plan. It's very simple. But for those who prefers a better quality of life, then we need to upgrade. It's just a personal choice.monsterhttps://www.blogger.com/profile/13197093029731321326noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-41290898699029230842016-06-24T06:35:10.704+08:002016-06-24T06:35:10.704+08:00Terence,
You raised another good point - That Med...Terence,<br /><br />You raised another good point - That Medishield reforms are making it better as we speak. <br /><br />RegardsChristopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-56911895832012766262016-06-24T00:03:25.695+08:002016-06-24T00:03:25.695+08:00With the changes to what has now become medishield...With the changes to what has now become medishield life, I have been contemplating chopping my IP. A key issue was as you addressed, the costs shoot up as you get older and cash top up comes into play as you get older, which is also when you need it most. <br />Yes you make the choice if you want stay ward A, not all of us do, I don't.<br />Finally someone wrote about the IP plans and we're thinking the same issues. You're getting me off my ass to chop it this year.<br />TerenceAnonymoushttps://www.blogger.com/profile/08121132837540272710noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-18836197114428580842016-06-23T23:23:43.760+08:002016-06-23T23:23:43.760+08:00monster,
Your argument might work if rhetoric act...monster,<br /><br />Your argument might work if rhetoric actually works on me but it doesn't.<br /><br />You don't actually have an argument. All you merely assert is that you have a right to seek better medical treatment. Treatment which can be bought using cash.<br /><br />You are also skirting the fact that I am saying that the sales brochures do not accurately reflect the risks of not having an ISP. For your argument to hold water the sales brochure should the luxury and flexibility of your Class A/B1 options but it clearly does not.<br /><br />Don't insult the intelligence financial bloggers.<br /><br />Regards<br /><br />Christopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-8653139944811026302016-06-23T15:11:12.404+08:002016-06-23T15:11:12.404+08:00Will everyone just ask for basic lifestyle when th...Will everyone just ask for basic lifestyle when there are better? Does everyone take public transport? Then we don't need the COE. Does everyone drink coffee at hawker centre, then starbucks will be bankrupt. Do we all eat in hawker centres, than why are the good restaurants so crowded? Why do we even go for holidays and some even exotic ones? Why not just stay at home and save money? Why do people carry branded bags that cost more than $20k, and all the Swiss made watches, when Casio will tell the time just as accurately ?<br /><br />We have a lifestyle to fulfil. We make money to live a better life, what that is differs from person to person. And when we are sick, maybe we also want to treat ourselves better, since we are already doing that when we are healthy. Maybe some prefer to avoid the very long wait at B2 / C ward, and prefer more attentive attention at private hospital? The rooms are also nicer, and more privacy in a single bed. Maybe can sleep better at night with no snoring ? Maybe to select a specialist for this particular illness, but the specialist only practice in the private hospital ?<br /><br />Do you also blame the sales brochures when you choose a better lifestyle for your transport, housing, dinning, travelling, clothing etc?monsterhttps://www.blogger.com/profile/13197093029731321326noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-27063078482213124432016-06-23T12:44:53.424+08:002016-06-23T12:44:53.424+08:00Sillyinvestor,
You are not wrong, if you prefer C...Sillyinvestor,<br /><br />You are not wrong, if you prefer Class A, then by all means buy an ISP.<br /><br />The examples in the sales brochures can also illustrate using a real example how their ISPs can cut costs.<br /><br />Unfortunately, they need to leave it to you to go through every expense item to convince yourself that you've made the right decision.<br /><br />RegardsChristopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-33179347981725339632016-06-23T11:50:52.286+08:002016-06-23T11:50:52.286+08:00Christopher,
I took up your suggestion and studie...Christopher,<br /><br />I took up your suggestion and studied MoH website of bills at B2 and C ward and the subsidized operations. <br /><br />My apologies if I sound rude. <br /><br />My findings can be found in my blog. It would seem if we stay at B2 and C, only 1 operation would really be a nightmare to medishield holders. Another 2-3 exceeded claimable amount but it's not crippling.<br /><br />That is based on whatever info is available. <br /><br />I still believe one should at least get surgery coverd as "per charged" by going for the lowest IP plan Sillyinvestorhttps://www.blogger.com/profile/03228581533460899084noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-62850964057496090562016-06-22T21:27:08.671+08:002016-06-22T21:27:08.671+08:00Anon,
I don't know the answer to your questio...Anon,<br /><br />I don't know the answer to your question. But I found this link :<br /><br />https://www.moh.gov.sg/content/moh_web/medishield-life/integrated-shield-plans/about-integrated-shield-plans--ips-.html<br /><br />It seems that that these private insurers only cover B1/A ward stays and passes through the premiums to the CPF board so I guess the answer is yes - If you pull out of the plan, you get your Medishield back.Christopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-28427190456079918932016-06-22T21:18:00.163+08:002016-06-22T21:18:00.163+08:00Sillyinvestor has attempted a rebuttal on his blog...Sillyinvestor has attempted a rebuttal on his blog.<br /><br />All readers may read it here : http://sillyinvestor.blogspot.sg/2016/06/integrated-plans-are-not-about-hospital.htmlChristopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-51074803696672602362016-06-22T21:00:35.018+08:002016-06-22T21:00:35.018+08:00If room and board are never significant items, who...If room and board are never significant items, whoever is selling the plan should be able to provide a compelling picture to buy the ISP using purely B2 ward projections. There is no need to employ Class A ward projections which strip the estimates from government subsidies which the patient would be entitled to with Class B2.<br /><br />You realise that all I get are eyeballs on this blog and I am not obligated to provide the full picture although I would really appreciate it if a reader is willing to shed more light on these insurance plans. Christopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-52209895188616992152016-06-22T18:38:08.020+08:002016-06-22T18:38:08.020+08:00U should seriously look at the breakdown of benefi...U should seriously look at the breakdown of benefits of IP, which are also tiered, with that on govt medishield<br /><br />Room and board is never a big item in hospital bill. U are not providing the full picture too. <br /><br />I agree with u, I hope all would be buyers read and learn and make a sound decision. There are just too many bullshit from both campsSillyinvestorhttps://www.blogger.com/profile/03228581533460899084noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-74237216083693613722016-06-22T17:08:50.910+08:002016-06-22T17:08:50.910+08:00Hi Christopher,
Thanks for sharing your thoughts ...Hi Christopher,<br /><br />Thanks for sharing your thoughts - always a pleasure to read your posts.<br /><br />Would like to ask: if someone has already taken up an ISP, is it possible/feasible/viable to give it up and revert back to Medishield?<br /><br />Thanks in advance, and wishing you the best in your studies and internship.anonhttps://www.blogger.com/profile/06858137414484946488noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-70975999230815836202016-06-22T16:03:44.497+08:002016-06-22T16:03:44.497+08:00Thanks for the clarifications, Richard !
While s...Thanks for the clarifications, Richard ! <br /><br />While subsidies and rebates are short-term and vary, it does create the wrong impression that these ISPs are a fantastic deal compared to the plan by the government. Most consumers are not savvy enough to challenge thee claims. As you will not know how good your insurance until long after you commit to it, it belongs to a class of goods known as credence goods. <br /><br />This means that regulatory oversight must exist to curb such practices.Christopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-49972290051779384682016-06-22T10:57:41.254+08:002016-06-22T10:57:41.254+08:00Hi Christopher,
Great post, a few comment :
For i...Hi Christopher,<br /><br />Great post, a few comment :<br />For item (b), the new Medisave Account ceiling is $49,800.<br />For item (c), I can understand why the insurer(s) using the full Medishield Life premium as comparison because the subsidies and rebates are short-term and varied from person to person.Investopenlyhttps://www.blogger.com/profile/07785795437892877722noreply@blogger.comtag:blogger.com,1999:blog-17478547.post-13747966742443832672016-06-21T23:35:44.614+08:002016-06-21T23:35:44.614+08:00Well said... there is also this skills future acco...Well said... there is also this skills future account, exercise account.. so many such bullshits..Unknownhttps://www.blogger.com/profile/02392598754204207695noreply@blogger.com