Raffles Well being Insurance coverage is likely one of the lesser identified insurers in Singapore, however they’re really one among 7 insurers providing Built-in Protect plans.
We extremely suggest getting an Built-in Protect plan for those who can afford to take action, as they prevent from having to depend on the very bare-bones MediShield Life do you have to get hospitalised. Let’s see if the Raffles Protect Plan is value shopping for.
What are Built-in Protect plans?
All Singaporeans and PRs have a really primary type of authorities medical insurance coverage known as MediShield Life. MediShield Life can provide payouts for those who get hospitalised. However that doesn’t imply the protection is enough.
MediShield Life is designed to solely cowl stays in Class B2 or C wards at public/restructured hospitals, so for those who keep at a better class ward or a non-public hospital, you’ll must both pay a ton of cash out-of-pocket or depend on personal medical health insurance or an built-in defend plan. What’s extra, MediShield Life caps its payouts, so it’s a must to watch out to not go over the restrict or danger having to pay extra out-of-pocket.
MediShield Life additionally doesn’t provide payouts for pre- and post-hospitalisation prices. This isn’t in any respect comforting when you think about that pre- and post-hospitalisation prices can typically exceed the precise value of hospitalisation. Ouch!
An Built-in Protect plan gives safety the place MediShield Life doesn’t, with increased declare limits, entry to increased class wards and/or personal hospitals, and protection for pre- and post-hospitalisation bills.
Raffles Protect Built-in Protect premiums
| Raffles Protect | Entry to | Annual premium* |
| B | Class B1 ward | $310 (MediShield Life) + $83 = $393 |
| A | Class A ward | $310 (MediShield Life) + $112 = $422 |
| A + Raffles Hospital | Public hospital Class A + Raffles Hospital | $310 (MediShield Life) + $223 = $533 |
| Non-public | Non-public hospital | $310 (MediShield Life) + $339 = $649 |
*For Singapore citizen aged 35
There are 3 tiers of Raffles Protect plans: B, A, and Non-public. You’ll be able to add on a Raffles Hospital choice to the A plan.
Value-wise, Raffles stands out is with its “A + Raffles Hospital” plan. This lets you get pleasure from personal hospital remedy (albeit only one hospital) at a decrease value than different insurers’ personal hospitalisation plans.
In any other case, Raffles Protect premiums are common; they’re neither the most costly nor the most cost effective among the many different insurers. You’ll be able to see the way it stacks up in opposition to the opposite Built-in Protect plans in Singapore right here.
A portion of your annual premium (on this case $310) goes in direction of MediShield Life, whereas the rest is for Raffles Protect protection. The latter part might be paid utilizing MediSave, as much as annual limits. For a 35-year-old, the restrict is $300 a 12 months.
Extra Particulars
Key Options
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Full “As Charged” protection to your every day ward, Intensive Care Unit (ICU) expenses within the hospital, and neighborhood hospitals for plans Non-public, A, and B
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Full “As Charged” protection for MediShield-approved surgical procedures listed within the MInistry of Well being’s desk of surgical procedures Desk 1A to 7C
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Protection for inpatient psychiatric remedy, unintentional inpatient dental remedy
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Protection for outpatient kidney dialysis, chemotherapy, immunotherapy, stereotactic radiotherapy, erythropoietin, and immunosuppressants for organ transplant
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Contains protection for therapies sought 180 days previous to your hospitalisation (you have to maintain the experiences and payments, they usually have to be associated to your precise hospitalisation keep)
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Contains protection for therapies sought three hundred and sixty five days after your hospitalisation (at Raffles Panel clinics)
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Protection for main organ transplant, stem cell transplant, and residing donor organ transplants
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Contains protection for six being pregnant problems, breast reconstruction after a breast cancer-related mastectomy, congenital abnormalities for you
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Contains protection for emergency abroad medical remedy, HIV contracted as a consequence of blood transfusion or occupation
Phrases and Circumstances
| Age Restrict | 75 years previous |
|---|---|
| Coverage Yr Restrict | S$150,000 – S$1,500,000 |
| Lifetime Restrict | No restrict |
Hospital Ward Entitlement
| Public | As much as Class A |
|---|---|
| Non-public | As much as Normal Room |
Extra Advantages
| Coronavirus (COVID-19) Protection | |
|---|---|
| Put up-Hospitalisation Remedy | |
| Unintended Inpatient Dental Remedy Profit | |
| Emergency Abroad Medical Remedy Profit | |
| Pre-Hospitalisation Remedy |
See all card particulars
Raffles Protect Built-in Protect plans
| Raffles Protect | Pre-hospitalisation cowl | Put up-hospitalisation cowl | Annual protection restrict |
| B | 90 days | 90 days | $300,000 |
| A | 180 days through panel or public hospital (in any other case 90 days) | three hundred and sixty five days through panel or public hospital (in any other case 180 days) | $600,000 |
| A (+ Raffles Hospital) | 180 days through panel or public hospital (in any other case 90 days) | three hundred and sixty five days through panel or public hospital (in any other case 180 days) | $600,000 |
| Non-public | 180 days through panel or public hospital (in any other case 90 days) | three hundred and sixty five days through panel or public hospital (in any other case 180 days) | $1.5 million through panel (in any other case $600,000) |
Raffles Protect is available in a wide range of plan sorts:
- Probably the most primary plan, Raffles Protect B, offers you entry to B1 wards in public/restructured hospitals
- Raffles Protect A offers you entry to A1 wards in public/restructured hospitals
- Raffles Protect A + Raffles Hospital possibility offers you entry to A1 wards and Raffles Hospital
- And for essentially the most full safety, Raffles Protect Non-public gives protection for stays in personal hospitals.
We’d counsel giving the most cost effective Raffles Protect B plan a miss because the mere 90 days of pre- and post-hospitalisation protection is the shortest interval available on the market. Try the opposite B-ward Built-in Protect protection right here.
Raffles Protect A and Raffles Protect Non-public provide common protection at common costs.
However one perk of the Raffles Protect A Plan is that you would be able to buy a Raffles Hospital Possibility. You may get coated not solely at public hospitals, but additionally Raffles Hospital, which is a non-public hospital. Which means you’ll be capable to get personal hospital remedy whereas paying lower than you’ll for a non-public hospital plan.
In case you’re on the A or Non-public plan, be sure to go to a public hospital or panel specialist as that can have an effect on the quantity of pre-hospitalisation and post-hospitalisation protection you obtain.
Raffles Protect Raffles Key Rider premiums
All Built-in Protect plans provide an add-on known as a rider, which lets you cut back your out-of-pocket prices when making a declare.
With no rider, you’d must pay a deductible of as much as $3,500 + co-insurance of 10% if you end up hospitalised. With a rider, you want solely co-pay 5% of your invoice, capped at $3,000 a 12 months.
The Raffles Key Rider does simply that, at a reasonably reasonably priced worth too (annual premiums fluctuate along with your base plan). For a 35-year-old, the rider prices $80 for Raffles Protect B, $138 for A, $254 for A + Raffles Hospital, and $297 for Non-public. These premiums have to be paid in money as they’re not MediSave-eligible.
You’ll must both get handled at a public hospital, a panel specialist, or have your remedy pre-authorised with a view to benefit from the rider advantages. You can even get every day hospital money profit if you go for a ward that’s decrease than what you’re entitled to.
How does Raffles Protect complement MediShield Life protection?
Raffles Protect lets you keep at increased class wards or personal hospitals, which you can’t do if you rely totally on MediShield Life, except you’re ready to pay enormous out-of-pocket bills.
One other essential space of protection is pre- and post-hospitalisation bills, which might be appreciable.
Going for exams earlier than being recognized can value some huge cash, particularly if yours is a uncommon or hard-to-diagnose situation. After getting discharged, you may also end up being charged some huge cash for follow-up visits or rehabilitation.
None of that is coated by MediShield Life, however might be coated by Raffles Protect as long as it falls inside the pre- and post-hospitalisation closing dates.
Do you have to get Raffles Protect?
In case you are tremendous with utilizing Raffles Hospital, the Raffles Protect A with Raffles Hospital Possibility is usually a cost-effective means to have the ability to afford personal hospital care.
In any other case, all of the Raffles Protect plans provide first rate protection at cheap costs in any respect three tiers with above-average pre- and post-hospitalisation cowl, offered you’re keen to go to one of many personal hospitals on their panel or a public/restructured hospital. They’re not absolutely the most cost-effective, however they do provide good value-for-money.
Be aware that you will want to undergo a panel for the upper-tier plans, however we’ve discovered this to be more and more widespread amongst insurers. It’s a little bit of a trouble, however consider it as a method to maintain your insurance coverage premiums in examine.
Extra Particulars
Key Options
-
Full “As Charged” protection to your every day ward, Intensive Care Unit (ICU) expenses within the hospital, and neighborhood hospitals for plans Non-public, A, and B
-
Full “As Charged” protection for MediShield-approved surgical procedures listed within the MInistry of Well being’s desk of surgical procedures Desk 1A to 7C
-
Protection for inpatient psychiatric remedy, unintentional inpatient dental remedy
-
Protection for outpatient kidney dialysis, chemotherapy, immunotherapy, stereotactic radiotherapy, erythropoietin, and immunosuppressants for organ transplant
-
Contains protection for therapies sought 180 days previous to your hospitalisation (you have to maintain the experiences and payments, they usually have to be associated to your precise hospitalisation keep)
-
Contains protection for therapies sought three hundred and sixty five days after your hospitalisation (at Raffles Panel clinics)
-
Protection for main organ transplant, stem cell transplant, and residing donor organ transplants
-
Contains protection for six being pregnant problems, breast reconstruction after a breast cancer-related mastectomy, congenital abnormalities for you
-
Contains protection for emergency abroad medical remedy, HIV contracted as a consequence of blood transfusion or occupation
Phrases and Circumstances
| Age Restrict | 75 years previous |
|---|---|
| Coverage Yr Restrict | S$150,000 – S$1,500,000 |
| Lifetime Restrict | No restrict |
Hospital Ward Entitlement
| Public | As much as Class A |
|---|---|
| Non-public | As much as Normal Room |
Extra Advantages
| Coronavirus (COVID-19) Protection | |
|---|---|
| Put up-Hospitalisation Remedy | |
| Unintended Inpatient Dental Remedy Profit | |
| Emergency Abroad Medical Remedy Profit | |
| Pre-Hospitalisation Remedy |
See all card particulars
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Picture by Martha Dominguez de Gouveia on Unsplash
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With So Many Built-in Protect Plans Out there, How Do You Determine Which to Select?
