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LIFE&FAMILY
134
February15
What are your tips for choosing a
health insurance policy?
Opt for a global policy that is portable
in the event of your leaving Singapore.
Check whether waiting periods apply
to benefits such as maternity or dental
cover.
Consider your individual needs, and
MATERNITY COVERAGE
Daren Ng, MSIG Insurance
Why is the choice of medical
policy so important?
Deciding on a suitable plan is crucial,
because your choice determines
the quality of care you will receive
should anything happen to your health.
Importantly, it will secure your finances
against potentially hefty hospital and
other treatment bills.
What do you recommend as a
minimum cover for someone
planning a baby?
The Singapore Ministry of Health
website provides information on the
delivery costs by ward and hospital type.
It’s a useful resource in determining the
average bill size. The required cover
varies from person to person, but one
should keep in mind that the higher
and more comprehensive the cover,
choose a policy that allows you to
reduce the policy cost by excluding
benefits that may be unnecessary, such
as maternity.
To avoid being significantly out of
pocket, review thepolicy limits to ensure
that the average cost of treatment will
be covered (average costs are available
online at theMinistry of Healthwebsite).
For example, the average cost of a two-
day hospital stay for an uncomplicated
appendectomy is around $20,000.
Consider a policy with a direct billing
benefit to avoid short-term cash-flow
issueswhile youwait for reimbursement.
What is “top-up” health
insurance?
Many company-based health schemes
provide only basic local cover. This
can expose expats and their families
to substantial costs. If you leave the
company or the country, and your
policy is not transferrable, you may be
subject to paying any excluded medical
conditions in the future. A top-up policy
can provide for continuous coverage in
these circumstances, and complement
the cover your employer provides.
What are some things that people
tend to overlook when deciding
on a health policy?
Whether or not they will be covered
for chronic, congenital or pre-existing
conditions.
Deductibles and co-payments built
into the policy.
Exclusions applicable to sports and
“extreme” activities.
Whether or not a new baby can be
added to the policy from birth, or after
a waiting period.
What happens if I unexpectedly
leave Singapore before the end of
the policy date?
Depending on the policy, you may be
required to cancel it immediately. In the
case of portable global policies, you
enjoy continuation of cover. Most health
insurance policies allow cancellation
during a policy year, but only a few will
provide a partial refund, and the amount
refunded may be affected by the claims
that have been paid.
6631 2862 | ipg.sg
the more expensive the premium. A
balance should be struck between
coverage and cost.
How far ahead should someone
take out insurance if they’re
planning to have a baby?
There is usually a waiting period for
maternity cover, ranging from 12 to 24
months depending on the insurance
provider. Maternity insurance is not a
separate policy; an extension to a health
insurance policy, it covers costs incurred
for antenatal, childbirth and postnatal
treatment.
What about complications during
delivery?
The sums insured are often increased to
cater for the higher costs incurred in the
event of labour complications, such as
a caesarean section performed on the
order of the attending doctor.
What about coverage while
travelling?
Some health plans, including MSIG
Prestige Healthcare, not only cover
expats while they’re in Singapore, but
also provide international cover during
their occasional visits home.
6827 7888 | msig.com.sg
MEDICAL COVERAGE
Daphne Ashford-Smith, International
Protection Group