Shield Plan Revisited (Sunday Times)

Again, the Shield Plan is revisited after Straits Times ran an article on Health Minister Khaw's $8 bill for his recent hospital admission. Yes, it does demonstrate the power of a suitable Medisave approved intergrated Shield plan, if coupled with a rider to hedge the co-payment costs.

Most 'as-charged' Shield plans offer unlimited lifetime cover with no ceiling for lifetime claim limits (note: AIA HealthShield Gold Prestige has $10mil lifetime limit; the Elite version is unlimited).

And a comparison of the various Shield Plans was published.

However, I find the comparison on 'Congenital Abnormalities' needs further clarification.
Reason being the inpatient treatment cover for congenital abnormalities (except AIA's plan) can only be claimed provided the first diagnosis or symptoms occur after an initial waiting period of 24 months. Hence, if a newborn is detected to have a certain birth defect, he would automatically be excluded. Or say, the parents incept the plan for the newborn after his first month, and such symptoms are likely to surface in the initial 2 yrs of the newborn if at all, there is a high probability of no cover as well. Hence, the ongoing debate for MediShield to at least cover all newborns regardless of pre-existing conditions. Of course, the cost has to be spread out and borne by all CPF members. There's no free lunch.

So how different is the AIA plan on Congenital Abnormalities cover? Below is the policy wording from AIA HealthShield Gold Elite-
"We (AIA) will reimburse the actual expenses incurred, subject to a limit of S$5,000 per Policy, if the Insured‟s biological child undergoes medical treatment in a Hospital whilst under Confinement during the first 12 months of birth, any Medically Necessary treatment relating to birth defects, including hereditary conditions and congenital sickness or abnormalities. These conditions must be first diagnosed by a Physician or Specialist after the Insured has been insured under this Policy for a continuous period of 12 months from the Policy Date or the last reinstatement date (if any), whichever is later. This benefit applies only if the Insured is a female."

Therefore, one will notice the Insured in AIA's plan refers to the mother and the cover extends to her biological child. In the case of other insurers, the Insured refers to the newborn. However, the AIA cover is capped at $5K and limited to treatment for the 1st year of the newborn. There are other healthcare plans which cover congenital abnormalities on a much more comprehensive basis. Some examples are Chartis GlobalHealth and InterGlobal UltraCare series. These will cost and are not cheap.