Archive for the ‘Life's Real Contingencies’ Category

Medical Insurance

Tuesday, June 8th, 2010

People whom have worked with me will know I often start off when discussing ‘Medical’ insurance by clearing defining the total aspects of Medical Insurance, namely,

Hospitalisation - In-patient, Out-patient, Day Surgery, Hospital Income
Disability - Partial
Long-Term Care
Critical Illness

Basically, the above could be summed up as Survival Benefits to an individual whereby your typical Life Insurance is ‘useless’ as it pays NOTHING should any of the above-mentioned event occurs as you are still ‘alive’!

Thus, the immediate impact is the need for a lump sum cash for treatment. If you are the Sole Breadwinner, the next most felt impact would be the total HALT of all income to the family! Expenses would have now escalated because of your condition!

Perhaps, AIA could assist now to present it in a different angle, logon to our microsite: http://www.aia.com.sg/health and find out more.

Alternatively, drop me an email at enquiry@aia.com.sg or just call me at +65 6100.4888 for a chat!

Sudden Death

Wednesday, May 5th, 2010

I first met him when he delivered the Volkswagen Touareg to Exklusiv for viewing, many years ago…

Then in 2008, had lunch with J through Wenda, at his office and proposed to him Universal Life and arrangements for his daughter who was only 6 then. Typically, being a CEO, busy and all, we never got to meet…

Today, I received a SMS - early morning, he had a heart attack and passed on within seconds of the attack!

Came as a total shock to his wife and daughter, based in Singapore, who would never expect they won’t get to see him again… and now, neither would I.

Psalms 23 - Though I walk through the valley of the shadow of death, I will fear no evil. Your rod and your staff, they will comfort me…

Hospitalisation!

Wednesday, August 5th, 2009

When one needs to be warded for treatment, the challenge starts right from the admission counter itself - having to decide on which Ward and how many Bedder, unsure if the insurance cover is adequate, who to claim from: personal or employer, etc…

Often, the in-patient stay can be easily taken care if there’s a Shield Plan and some form of Basic H&S Cover for a typical hospital confinement that doesn’t include surgery.

However, is there an incident where some of the items you incurred are non-claimable? How about incidents relating to the confinement thats NOT a direct link to the confinement; transport charges, supplements, additional expenses incurred at home due to the hospital confinement, just to name a few?

A Hospital Income Plan can actually provide extra cash just to meet such unexpected expenese related to a confinement yet, not directly.

MSIG has  just launched a pure Hospital Income Program that will pay a daily benefit for every hospitaliation confinement. This pays on top of your existing plans as its a Benefit, and not reimbursement. For a typical policyholder of mine who has a HealthShield Gold and New Pink of Health Plan. In the event of a hospitalisation, HealthShield Gold and New Pink of Health’s Hospital Expenses will reimburse you for the amount you incurred during your stay. New Pink of Health will also provide a Daily Hospital Income. This plan, when enrolled, will pay an additional income. Most importantly, there’s incentives for each year of no claims made - a discount on renewal premium!

In short, with rising medical costs in Singapore and only higher bills to be anticipated, one cost effective way to provide for such a contingency is the use of Hospital Cash Plan.

A copy of the brochure and policy wordings are attached and until 31 August 2009, there is a 15% discount on individual plans and 25% discount if your spouse or child enrols simultaneously. With every enrolment, a chic gym bag, worth $25, is also given and for premiums exceeding $500, you may opt to pay via your DBS or POSB Credit Cards over 12 months instalment at 0% interest!

hospitalcashplusbrochure-hcp2040906april09.pdf    hpctermsandconditions_finalphr.pdf

So, go through your portfolio and if this plan can complement your existing for medical coverage, call me at 61004888 for an appointment!

Testimony - Critical Illness Protection

Thursday, July 2nd, 2009

Ms Christina Lau was kind enough to step forward and share the importance albeit being typically candid, of having sufficient, appropriate coverage and in this aspect, Critical Illness!

Ms Christina Lau

GP Medical Outpatient Coverage now available on Individual Basis!

Tuesday, November 4th, 2008

You may now get your very own Card where you could see a Comprehensive Panel of Doctors for medical coverage, which currently is only available through your Employer, if your Employer has signed up for such a scheme, or if you have applied for such a cover from your own Company.

For a very limited time, you may now have your own Card where all expenses incurred during your trip to the GP is fully reimbursed, all for an Annual Premium of less than $260, when subscribed to any Basic Plan.

For more information, send an email to enquiry@aia.com.sg or call 6100 4888 now!

Raffles Med, int’l insurer in health plan tie-up

Thursday, May 22nd, 2008

Business Times - 17 May 2008
 

Schemes let insured access clinics, hospitals globally

By GENEVIEVE CUA

RAFFLES Medical Group has tied up with Bupa International, one of the world’s largest international health insurers, to offer co-branded health plans for mobile executives.The partnership is with Raffles subsidiary International Medical Insurers (IMI), which offers group and individual health plans. The bulk of IMI’s 70,000 clients or members are insured under its group health schemes. About 10-15 per cent are in individual schemes.

IMI has secured a life insurance licence, which allows it to offer long-term health plans that are guaranteed renewable. The firm plans to enter the Shield market this year.

On international health plans, IMI general manager Dr Yii Hee Seng said: ‘Demand is increasing, as growing affluence in the region has made transnational mobility more common. We want to provide customers with peace of mind and the flexibility of having insurance coverage anywhere in the world.’

Through Bupa’s plans, the insured can have access to a global network of 5,500 hospitals and clinics. Treatment can be on a cashless basis unlike most other insurance plans, where the patient must pay upfront and seek reimbursement later.

Bupa International global sales director Tim Slee said Asia accounts for 10-15 per cent of the group’s international business. ‘But in terms of the percentage growth, it’s the fastest-growing region.’

Bupa and IMI plan to launch new plans for individuals next year. Dr Yii said: ‘The plans will be more modular offerings. People will have the ability to build their own solutions.’

On whether Bupa’s plans are guaranteed renewable, Mr Slee said: ‘The way Bupa operates is we don’t use those words in our contracts. But in our years of business, Bupa has never refused to reinsure an existing member if (he or she) was not acting fraudulently.’

Planning for Hospitalisation Expenses Coverage in Singapore

Sunday, May 18th, 2008

Are you concerned about the high medical costs in Singapore, where Hospitalisation & Surgical Expenses is concerned?

How do you pick the appropriate cover? Is owning a ‘Shield’ Plan sufficient? Does your Hospitalisation Plan cover on a ‘First-Dollar’ basis? Given a choice, would you like to have the choice to decide to go to a Private or Government Restructured Hospital? Again, if given a choice, would you like to be able to decide to stay in a Single-Bedder without worrying about the costs?

Do browse the attachment included and should you need more information, do call +65 6100 4888 or send an email to kelvin@kelvinkhoo.com!

Happy Holiday!

hospitalisation-in-sg.PDF

Jurong hospital will be ready by 2015

Tuesday, April 29th, 2008

Business Times - 28 Apr 2008


Jurong hospital will be ready by 2015

Medishield claim limits raised for implants, ward stay

By CHEN HUIFEN

THE new public hospital in Jurong will be ready by 2015 and follow the Changi General Hospital model of co-locating with a community hospital.

The Ministry of Health (MOH) said that the co-location of an acute inpatient healthcare institution with a step-down care facility will expedite sharing of common resources and expertise, as well as patient transfers.

The model has been tested and is working well for Changi General Hospital and St Andrew’s Community Hospital in the east. Both are located next to each other in the Simei area.

The proposed Jurong General Hospital will have a capacity of 550 beds, while the adjacent community hospital will have 200 beds. A hospital planning committee led by current Tan Tock Seng Hospital CEO Lim Suet Wun has been set up.

A site in Jurong East has been allocated for the hospital. It will be within walking distance from the Jurong East MRT Interchange and Jurong East Bus Interchange. The development will form part of the larger Jurong Lake District Plan, recently unveiled by the Urban Redevelopment Authority.

Apart from a new hospital, Singaporeans can also look forward to enhanced benefits from their Medishield plans. The MOH yesterday also released details on new Medishield claim limits, which are between 11 and 180 per cent higher than the ceilings they are entitled to today.

Significantly, the claim limit for implants and approved medical consumables has gone up to $7,000, from $2,500. Patients hospitalised in normal ward can also claim up to $450 per day, instead of $250, while ICU-warded patients will be entitled to have Medishield pay for up to $900 for each day of their stay.

The revision will take effect from December. They are designed to improve the insurance coverage of large Class B2/C bills to 80 per cent, from 60 per cent currently.

While premiums will go up correspondingly, the adjustments are less than $10 a month for the majority of Medishield policyholders. For those above 80, the enhanced benefits will cost them an increase of $35-40 in monthly premiums.

This group of policyholders will also see their deductible double. To buffer the effect, the MOH recently announced that it will raise their annual Medisave withdrawal limit to $1,150 to help pay for the higher Medishield premiums. The government will also top up Medisave accounts of the elderly in September, as announced by Finance Minister Tharman Shanmugaratnam during his Budget Speech this year.

Beware the silent stalker

Monday, April 28th, 2008

Business Times - 26 Apr 2008
 

By MELISSA HENG

FOUR out of every five women in Singapore are being stalked by a potentially dangerous killer throughout their life - and more than half of them don’t have the faintest clue.

‘In the course of a lifetime, about 80 per cent of women here will have been infected by at least one type of the human papillomavirus (HPV),’ says Tay Sun Kuie, associate professor, and senior consultant in the obstetrical & gynaecological department at Singapore General Hospital.

There are more than 100 types of HPV. But two strains - HPV 16 and 18 - are particularly sinister as they are hugely responsible for causing cervical cancer, the second-most common cancer worldwide among women over the age of 15.

But here’s the really scary news. While doctors here have red-flagged HPV for years, a recent nationwide survey showed that up to 75 per cent of women have no idea what HPV is, let alone the damage it can do.

What’s more, of those who have heard of HPV, many do not realise how common the virus is, and the great majority feel they are unlikely to be infected.

This lack of understanding can serious implications, especially since cervical cancer has no symptoms to speak of. ‘It is a silent killer that causes at least two deaths every week,’ warns Prof Tay.

Results from the first large-scale survey on Singapore women’s knowledge of and attitudes towards the HPV showed a worrying lack of awareness about the common virus, which spreads through skin contact.

The study, which was endorsed by the Obstetrical & Gynaecological Society of Singapore and the Association of Women Doctors here, involved 1,000 females aged from 17 to over 50. The survey was conducted from December 2007 to January this year - and its results raise questions about what women are doing to protect themselves against cervical cancer.

Cervical cancer is one of the top five causes of cancer deaths among women in Singapore, with about 200 women here diagnosed with cervical cancer each year. The cancer begins in the cervix - the part of the uterus or womb that opens to the vagina - and can spread to other parts of the body if left untreated.

‘Cervical cancer is highly preventable because it has a long gestation period and a clearly defined pre-cancerous stage,’ says Prof Tay. But this is a bane - as well as a boon.

Because the disease has no warning signs, most women do not even know they are infected unless they go for periodic screenings.

Yet according to the survey, only 12 per cent of women aged between 17 and 26 have ever had a pap smear. Indeed, while they are already sexually active, almost a quarter of these young adults do not even know what a pap smear is.

‘In Singapore, at least 10 per cent of women prior to age of 16 have had sexual intercourse, and in fact, a significant number of them have more than one partner,’ says Prof Tay. ‘Given this scenario, ignorance about the pap smear is very worrying, because it is a very good diagnostic tool that will alert doctors to abnormalities in the cervix.’

But there is still hope. ‘There are now vaccines available that act against the more deadly types of HPV and give complete protection against HPV 16 and 18, which causes up to 70 per cent of all cervical cancers,’ he Prof Tay says.

vaccines.jpg

The two vaccines now on the market are Gardasil, which was introduced here in 2006, and Cervarix, which made its debut a few months ago.

Both vaccines have to be given in three doses, spread over six months. Costing about $600, they have been approved for girls as young as nine.

‘The clinical trials were with women aged nine to 26, but even women who are in their 30s will benefit from the protection,’ says Prof Tay, adding that at present, neither vaccine is subsidised, even at public hospitals.

He urges women to look beyond dollars and cents - because life itself is at stake. ‘People buy hand phones and iPods for hundreds of dollars and they get out-dated after a year or so,’ he says. ‘An HPV vaccine lasts at least five years and it gives more than just entertainment value. To me, getting it makes a lot of sense.’

So ladies, the next time you visit the doctor, be good to yourself and ask for a shot. It could very well save your life.

60 diabetics in SGH trial to protect kidney with TCM

Tuesday, April 1st, 2008
April 1, 2008
30 of them will be given Western drug and the others, a concoction of herbs, in three-month study
By Lee Hui Chieh
INSTEAD of just popping Western-medicine pills, some diabetic patients at the Singapore General Hospital (SGH) will soon be drinking a concoction of medicinal herbs.

They will be taking part in a three-month-long study into how well traditional Chinese medicine (TCM) can prevent kidney damage in diabetics, compared to the Western drug normally given.

All 60 patients in the study will be given the usual medication to lower their blood-sugar levels and for other conditions such as high cholesterol.

But they will be split into two groups - with half getting enalapril, a commonly prescribed Western drug which protects the kidney, and the other half getting a concoction of nine TCM herbs.

The doctors running the study are Dr Bee Yong Meng, an associate consultant at SGH’s endocrinology department, and Dr Xu Yue, an associate professor of endocrinology at the Shanghai TCM Hospital, now on secondment to the Bao Zhong Tang TCM Centre at SGH.

Diabetic patients whose urine already contains a certain protein - a sign of kidney damage - or whose blood pressure is high, are given medication to lower their blood pressure and protect their kidneys.

Without treatment, patients who already have some kidney damage can end up with kidney failure.

But the medication produces in some patients side effects such as cough, which can be bad enough for them to be taken off the medication, said Dr Bee.

He said if the study yielded favourable results, TCM could become a ‘feasible option’ for patients who cannot tolerate the medication.

‘And if patients prefer TCM, at least we have some evidence to say if they should have it or not,’ he added.

Dr Xu said a similar study on 100 patients she is doing in Shanghai has shown, after a year, that the TCM prescription works as well as standard drugs in protecting the kidneys - without the side effects.

Dr Linn Yeh Ching, a senior consultant haematologist at SGH, will also be doing two studies to find out the effectiveness of TCM for patients with blood disorders.

The first study, lasting a year, will give TCM herbs to 10 patients with a disorder that causes a low platelet count and for whom conventional treatment has failed.

The second one, also lasting a year, will give TCM herbs to 30 patients with blood disorders that cause anaemia. Many of them tend to be elderly people unable to undergo bone marrow transplants, so they can be given only supportive treatment, Dr Linn said.

Associate Professor Ng Han Seong, who chairs SGH’s medical board, said the hospital was looking to do TCM-related research in three areas - patients for whom conventional medicine has nothing left to offer, patients with chronic diseases, and cancer.

He said: ‘If we are able to find an alternative, we can give patients another option.’

huichieh@sph.com.sg