Due to rising cost of Medical insurance in Singapore, a operation in Singapore can cost thousands of dollars. My mum is a living example. She was hospitalized for 6 months and the bill come up to about $150k+. Luckily she is under the Medishield life and she is pioneer generation so there are a lot of subsidy for her. In the end her bill is $7k+ instead. This is huge relief for mi. That is why i got the medishield insurance coverage for my wife and 2 daughters. Hoping of course they will not need it. And this is just for insurance only.
I am using Prudential for myself, wife and my 2 daughters. Unfortunately i could not get my mother insured as well as she has preexisting illness and Prudential assess her to be of high risk.
Although i myself has never claim before, my wife and my 2 daughters did claim before. Luckily there is insurance to cover on the costs so that no cash is used.
However this year the premium has risen to very high. As my age is 43. The premium amount is $1116.8 cash and $948 for my cpf. It used to be less than $500 per year. It has risen through the years from $600 to $1116.8 in cash and cpf is from $400+ to now $948.
I am going to look for my agent to reduce this to cover only the public hospitals instead for myself.
I will still maintain for my wife and 2 daughters. Depending on how much the premium raised, i may also swop their plan to cover only public hospitals.
Below is the MOH website to check out the plans and comparison. Hope that it is useful and you can do a comparison. I extracted the information from the website.
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