What is the Hospitalization and Surgical (H&S) Plan?
As the name suggest, H&S plans are insurance policies meant specifically to cover the medical costs of hospitalization. The point to look out for regarding these plans is that they only pay-out when you incur hospitalization and surgical bills.
In general, the format of the H&S plans usually come in two parts:
1) the 'basic' plan, which is payable using the Medisave
2) the 'rider' plan, which is payable using Cash and covers either:
a) the Deductible,
b) the Co-insurance,
c) or Both
What is the Deductible?
The deductible is the first-part of the bill - the initial $X amount - that the patient have to pay before they can claim the rest of the bill. The deductible range from $1,000 - $4,500 depending on the type of plan, ward or even the age. However do note that if the bill falls below the deductible (i.e. less than $X), the patient will have to pay the entire bill by themselves.
What is the Co-insurance?
The co-insurance is the second-part of the bill (after deducting the deductible) which the patient have to pay. The co-insurance is usually a percentage (10%) of the remaining bill.
How do you decide which H&S you need?
1) Preference of Medical Institutions:
Would you prefer to go to a private hospital or a public (i.e. government or restructured) hospital for treatment? If you prefer the private, do opt for the plan that is meant for the private hospital. The only point to note is this: sometimes the choice might not be available due to the need to seek specialist treatment (usually involving private doctors). Thus, to be on the safe side, is it usually better to choose a plan that allows you to opt for private hospitals.
2) Cost:
The cost of the H&S plans varies accordingly to the plan chosen, and whether you added on the rider or not. For the very-budget conscious, they usually opt for just the basic plan so that they do not have to pay any cash. However the catch is when the bill comes, they have to pay both the deductible and the co-insurance. For those that are value-conscious, they would opt for the rider - either covering the deductible or the co-insurance. For those that want to be 100% covered - they would opt for the rider that covers BOTH the deductible AND co-insurance. The cost for the latter is the highest, and the rider that covers both can cost nearly 3 times as much as the rider that covers only either one.
3) Benefits:
The benefits of the H&S plans are almost identical. For a comprehensive comparison you can refer to the benefit table here.
As the name suggest, H&S plans are insurance policies meant specifically to cover the medical costs of hospitalization. The point to look out for regarding these plans is that they only pay-out when you incur hospitalization and surgical bills.
In general, the format of the H&S plans usually come in two parts:
1) the 'basic' plan, which is payable using the Medisave
2) the 'rider' plan, which is payable using Cash and covers either:
a) the Deductible,
b) the Co-insurance,
c) or Both
What is the Deductible?
The deductible is the first-part of the bill - the initial $X amount - that the patient have to pay before they can claim the rest of the bill. The deductible range from $1,000 - $4,500 depending on the type of plan, ward or even the age. However do note that if the bill falls below the deductible (i.e. less than $X), the patient will have to pay the entire bill by themselves.
What is the Co-insurance?
The co-insurance is the second-part of the bill (after deducting the deductible) which the patient have to pay. The co-insurance is usually a percentage (10%) of the remaining bill.
How do you decide which H&S you need?
1) Preference of Medical Institutions:
Would you prefer to go to a private hospital or a public (i.e. government or restructured) hospital for treatment? If you prefer the private, do opt for the plan that is meant for the private hospital. The only point to note is this: sometimes the choice might not be available due to the need to seek specialist treatment (usually involving private doctors). Thus, to be on the safe side, is it usually better to choose a plan that allows you to opt for private hospitals.
2) Cost:
The cost of the H&S plans varies accordingly to the plan chosen, and whether you added on the rider or not. For the very-budget conscious, they usually opt for just the basic plan so that they do not have to pay any cash. However the catch is when the bill comes, they have to pay both the deductible and the co-insurance. For those that are value-conscious, they would opt for the rider - either covering the deductible or the co-insurance. For those that want to be 100% covered - they would opt for the rider that covers BOTH the deductible AND co-insurance. The cost for the latter is the highest, and the rider that covers both can cost nearly 3 times as much as the rider that covers only either one.
3) Benefits:
The benefits of the H&S plans are almost identical. For a comprehensive comparison you can refer to the benefit table here.
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