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What hospital insurance will NOT cover
It’s important that we mind our Ps and Qs. This is not to say that we should actually look after our pints and quarts – which is the literal meaning of the phrase – but rather that these days we need to watch about what we say and how we interpret what is being said to us. This sentiment is just as important now as it ever has been in a highly political global climate where, not only will people scrutinize every word that comes out of our mouths, but the answers given to our questions can be worded in a way that is meant to manipulate us or obfuscate true intentions.
Being thoughtful and exact when it comes to language and terminology is even important when it comes to something that isn’t controversial at all, like purchasing Singapore health insurance to cover your medical costs. We say this because it is very important to be familiar with the specific wording of all insurance policy documentation before purchasing. Additionally, even the naming of the various types of insurance available can be confusing. For instance: hospital insurance. Here, Pacific Prime Singapore discusses hospital insurance in Singapore, what it is, and what you may be surprised to find that it does not cover.
What hospital insurance is
A lot of people can be confused when they first encounter the term ‘hospital insurance’. They may think to themselves, “I’m pretty sure the private health insurance plan I have now will cover any stays in the hospital,” and they’re not wrong. However, hospital insurance is different from a standard health insurance plan in a number of ways that justify the use of a separate term.
In Singapore, possessing private health insurance may not be the most common choice for local Singaporeans, given that they have access to publicly subsidized healthcare through public hospitals, as well as Medisave account funds. For the expats in Singapore that make up a strong portion of Pacific Prime’s private health insurance members, however, the public healthcare system is not an option. Examining the available range of private expatriate health insurance options is always a good idea for Singapore expats, as the price that they will incur for medical care in private hospitals here will be a great deal higher than what locals pay for subsidized care.
Insurance shoppers in Singapore will find that hospital insurance is a narrower in scope than a comprehensive medical insurance. Yet it can be a great choice for people who want a lower level of insurance benefits for a lower price. The reason this is desirable by many is that the types of conditions that a person would need to be hospitalized for are often among the most costly. Therefore, hospitalisation insurance protects against the ailments that are most likely to cause burdensome medical debt.
Hospital insurance provides benefits specifically for in-patient treatments that require hospitalization. This means that hospital insurance largely addresses the most serious and immediately life threatening medical conditions that people may experience. As such, it will not only cover procedures and treatments carried out in a hospital, but will also provide some related benefits as well. These include:
- Ambulance costs
- In-patient diagnostic testing (lab tests, CT scans, MRIs, X-rays, etc)
- A private or semi-private room
- Surgery costs
- Operating theater and anesthetist costs
- Intensive care room and treatment
- Prescription medications received during hospitalization
What hospital insurance isn’t
The first thing to mention about the list above is that specific benefits provided can vary from insurer to insurer, so be sure to check policy details to make sure that all the benefits you expect to be provided by your hospital insurance plan are there. Also check that the maximum levels on each are where you want them. Beyond this, now that you have an idea of what a hospital insurance plan will cover, let’s look into what a hospital insurance plan is likely not to provide:
- Out-patient medical benefits
- Chemotherapy
- Dialysis
- Dental treatment
- Vision/optical coverage
- Maternity coverage
- Fertility treatment
- Psychological or substance abuse treatment
- Physical rehabilitation
- Sports injury treatment
- Skin treatment
- Out-patient diagnostic scans and testing
- Nerve treatment
- Carpal tunnel syndrome treatment
- STI treatment
- Traditional Chinese medicine
To be clear, the above list of benefits is not exhaustive. There are plenty of other healthcare items that a person may want that are not included in a hospital insurance plan. The main thing to take away from the above list is the commonalities among some of the items on the list. First among these would be chronic conditions that need consistent, long term out-patient treatments to address. Next, we also see that check-ups or non-emergency healthcare are largely excluded from hospital insurance plans. Finally, items that are not critical to physical health, but are still important for quality of life, like fertility or substance abuse treatments, are also not covered by hospital insurance.
Coverage options
If you truly want to make sure that you are only covered for the most pressing and costly healthcare, then a hospital insurance plan may be for you. Of course, we can now see that there are many areas where medical costs can be racked up that hospital insurance will not address. If you decide you want coverage for these items, you will need to seek out a more comprehensive type of plan.
You can either obtain a comprehensive medical insurance plan that includes all of the coverages you want all at once, or you can obtain riders that add specific types of benefits, like vision, dental, or maternity insurance in Singapore. If you already have a hospital insurance plan, you can even obtain a top-up insurance plan that simply adds the benefits you want without adding any that your existing plan already possesses.
We hope you’ve learned something today about hospitalization insurance, and just insurance in general. However, if you have any additional questions on what has been presented here, you’re still in luck! Our insurance advisers are more than happy to answer any questions you may have. Just reach out and contact us today!
Not only will they give you the answers you seek, they can also present you with a free plan comparison of health insurance plans from Singapore’s top insurance providers, as well as a free price quote.
Since joining Pacific Prime, Martin has become even more aware of the gap between the true value of insurance products and most people’s appreciation of it, and developed a passion for demystifying and simplifying matters, so that more people get the protection they need at a cost they can easily afford.
In his free time, Martin attends concerts of various genres, and plays the violin with piano accompaniment he pre-recorded himself or played live by his niece.
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