Top 4 Reasons to Get an Advanced Health Plan for Your Family

There is no denying it – healthcare is expensive. You, like many others,might worry that being sick will cause a financial burden to you and your family. It’s a worry that has a real basis, according to a report that shows that healthcare cost inflation in Singapore was 10 times the economic inflation rate in 2018.

Just imagine, a simple consultation with a GP might already cost you or your loved ones S$40 – S$60! Similarly, a consultation with a medical specialist might set you back S$80 – S$120. That’s a pretty steep price to pay for getting sick.  

Having a health plan will help to ease the financial burden for you and your family during periods of illnesses.  

Here are four reasons why you need this: 

Your current health care plan might not be enough 

We understand if you are a bit skeptical, especially if you’re a Singaporean or Permanent Resident (PR) who has an Integrated Shield Plan (IP) on top of your MediShield. However, you might want to check up on that again. 

Since March 2018, the Singapore Government rolled back on Integrated Shield Plan's rider schemes to add a compulsory co-payment feature. This means you have pay 5% of the total hospitalization bill out of your pocket. 

Simply put, a basic Integrated Shield Plan (IP) may not offer you sufficient coverage, or the comprehensive coverage you're looking for. And this is where getting a better health care policy comes in. It will be more suitable in times of accidents, severe sicknesses, and can also protect you and your family from unforeseen financial woes as it provides full coverage of incurred medical costs. 

Let’s say you suddenly find your spouse in need of hospitalisation. It will cost you roughly around S$1,327 - S$5,310 per day to stay in a private hospital and that is excluding surgical procedures. Now, you or your spouse might think twice knowing that it’ll add up. 

Fortunately, advanced health care policies like AXA SmartCare Optimum Enhanced have a high annual claim limit of up to S$1,000,000.00 per policy year with no co-payment required. You and your spouse can sleep better knowing that your medical expenses will covered. 

Outpatient costs can skyrocket

Say you have a child who loves playing outdoors. While we always hope for the best, unfortunately, accidents do happen. For more serious sprains and fractures, your child might need some rehabilitation after his treatment. And, that could cost you a lot. 

How much? Well, a typical trip to a physiotherapist will cost you about S$140-170 a session. That is definitely a huge hit considering most rehab sessions can last several weeks or months. 

If you are asking yourself, “Is there a good insurance solution that can tackle this issue?” Well, there are a few good options out there. 

One of them is AXA's SmartCare Optimum Enhanced. It provides improved support for outpatient consultation and treatment costs and covers as-charged costs. You no longer have to worry about paying extra for outpatient consultations since your insurance plan pays for it. Of course, this is limited to only panel doctors and specialists. 

Aside from that, pre-existing conditions are covered under Outpatient General Practitioner (Non-panel) & Outpatient Specialist Care after a waiting period of 12 months.  In the long run, exploring better insurance solutions can even help you save more money. 

You need a coverage for congenital conditions 

Insurance can be tough at times but they often offer coverage for unforeseen circumstances that happen in the future and not for pre-existing conditions. So what happens when you were born with it? 

If you find out that your child has a congenital condition, chances are, it’ll be more difficult for you to secure a health care policy. Congenital conditions are out of your control but luckily, we have a solution for you. 

Luckily, advanced insurance plans like AXA SmartCare Optimum Enhanced covers congenital conditions. This pays for inpatient or  daycare treatments for those who were diagnosed 24 months after the policy first became effective. 

A growing family needs good dental and travel coverage 

Did you know that your Integrated Shield Plan (IP) does not provide dental or travel rider options? 

That’s pretty hard, especially if you have kids who really need to have good dental care. Plus, if your family loves to travel, the thought of having a less than stellar travel insurance plan might dampen the vacation mood in the event of an accident or sickness. 

If you get a plan with comprehensive coverage like AXA SmartCare Optimum Enhanced, the option of having a dental and travel rider is available for policyholders. It can provide you with up to S$1,000 a year and covers all oral examinations, teeth cleaning, and fluoride applications in full for one session yearly. Additionally, if you find that your severe toothache requires you to do extraction, filling or a root canal, you’re covered as charged (minus the 20% co-payment). What’s better is your family members, covered under the same plan, get the same coverage too. 

If you’re a frequent traveler, getting the travel rider with your AXA SmartCare Optimum Enhanced makes sense as it gives you accidental death and permanent disablement coverage at any time during your travel. Also, the travel rider grants you coverage for other travel inconveniences such as trip cancellation, financial collapse of travel agency and  flight  delay, just  to name a  few. So you can travel worry-free, 365 days a year, knowing that your insurance policy has got your back in case of an emergency overseas. 

AXA SmartCare Optimum Enhanced is here to help 

Time with your family should be spent having the best years of your lives and not having to worry about heavy medical bills and unexpected financial hits. Investing in a good insurance solution helps to give you that added security and ease those possible headaches. Getting extra coverage such as AXA's SmartCare Optimum Enhanced gives enhanced benefits that reduce and ultimately aim to alleviate financial problems you might face in the midst of a severe accident or debilitating sickness. 

Thinking of getting an enhanced health care plan? Get AXA SmartCare Optimum Enhanced to have peace of mind and security in terms of health care and finances for all its beneficiaries. 

To round it up, AXA SmartCare Optimum Enhanced provides you and your family with the following benefits: 

• High Inpatient Benefit Limit 
• Outpatient General Practitioner (GP) & Specialist Cover (SP) 
• Critical Illness Coverage 
• Choice of Dental & Travel Rider 

Disclaimer:

This article is for general information only and does not take into account the specific investment objectives, financial situation or needs of any particular person. The views expressed herein do not necessarily reflect the views of AXA Insurance Pte Ltd and should not be construed as the provision of advice or making of any recommendation. There is no intention to distribute, or offer to sell, or solicit any offer to purchase any product. We recommend that you seek the advice of a qualified financial advisory professional before making any decision to purchase an insurance or investment product. Whilst we have taken reasonable care to ensure that all information provided was obtained from reliable sources and correct at time of publishing, information may become outdated and opinions may change. We are not liable for any loss that may result from the access or use of the information herein provided.