Aviva Myshield has undergone changes to coverage and some premium hikes in the last 2 years.
If you are looking to get coverage with it, this post is to explain this plan as well as some of its unique features!
Unique feature 1: AVIVA Moratorium underwriting
NOT available for new applications any more!
If you own an existing AVIVA plan with moratorium underwriting, you may still keep it.
This post here will help you understand it.
Unique feature 2: Family Discount & Preferred Rate For Children
KEY STARTING criteria is BOTH parents must be under AVIVA MYSHIELD Plan 1 or 2.
Preferred rates and discounts are until child is age 20.
You will get free cover for your children under Myshield plan 2 which covers to A ward government. Hence if you have a few children, this is a really good package.
In addition, if you are under Myhealthplus option A-II, your children get this rider coverage free.
If both you and spouse are insured under MyShield Plan 1 or 2 and MyHealthPlus Plan 1 or 2 of
Option A, Option C, Option A-II or Option C-II (whichever is applicable), you can buy MyHealthPlus
Option C-II Plan 2 for their children under the Preferred Rate for Child(ren). Premium savings shown below.
Unique Feature 3: Planned overseas treatment of AVIVA Myshield
To request for Global treatment for any of the six covered illnesses or medical procedures, call Aviva Health Privileges hotline at 6664 0246 (with effect from 2 January 2019).
Treatment is for the 6 covered conditions listed of which cancer treatment is one of them.
What about emergency overseas treatment?
An emergency refers to a medical condition that requires immediate attention by a doctor within 24 hours of an accident or illness taking place. It is covered.
You have to first settle the bill with the hospital. Together with a medical report, you can seek reimbursement from us with the original bill.
However, any pre- & post-hospital treatment bills incurred under emergency overseas treatment are not covered, regardless of where the pre- and post-hospitalisation treatment is received.
IMPORTANT: How Aviva Panel and Non-panel benefits differ?
Aviva has collaborated with Alliance Healthcare to put together a list of over 200 experienced specialist.
If you are applying new for the AVIVA myshield plan, use the "NEW Myhealthplus plans" column on the right. If you go panel specialist in a private hospital with certificate of pre-authorisation, your bill will be subjected to $1,000 annual deductible.
In a simple example, a $900 bill will not be claimable (because it is within the $1,000 annual deductible). A $250,000 bill will be claimable for $246,000 which is shown as an example on the brochure ($3,000 maximum co-insurance cap plus $1,000 annual deductible of myhealthplus).
How does the Old MyHealthPlus Option C and the New MyHealthPlus Option C-II differ?
This is a common question if you are looking to downgrade.
The NEW Myhealthplus C-II plan requires a $1,000 annual deductible and a co-insurance of 5%.
Do note that the final bill in the example below is no-longer $0, neither is it $2,500 (5% of $50,000), but $3,325 due to the various clauses.
In general, I did not suggest the downgrade for my private clients on it.
The premium savings is not much between the old Myhealthplus C and the new Myhealthplus C-II.
Premium table shown below (Updated as of June2019)
How does the old MyHealthPlus Option A and the New MyHealthPlus Option A-II differ?
The old Myhealthplus option A simple means you pay the deductible (private hospital is at $3,500). It also had the daily hospital cash benefit with a ward room downgrade.
On the other hand, the new Myhealthplus option A-II needs you to pay both the deductible and co-insurance of 5% of the remaining bill. It also does not have the daily hospital cash benefit with a ward room downgrade.
Both riders are cheap and focused to cover large bills. If you have a corporate health benefits coverage, these riders can be an ideal complement.
Old MyHealthPlus Option B Not available for NEW purchase
If you hold the old MyHealthPlus option B like some of my private clients, you'd find information elusive.
As a recap, in simple terms, the Myhealth Plus Option B means you pay 10% of the bill.
All bills are claimed 90%.
Description of AVIVA ELOG
The hospital may require you to fully settle the bill despite eLOG being issued.
Do note that if you/or person insured is a foreigner, the Aviva's eLOG is not offered.
Premiums in an old age and premium increments over the years
I recently received a cancellation request from one of my private clients and I guess with recent policy hikes had to do with it.
Her MyhealthPlus Option C bill today is more than $3,000 which is close to a 50% jump from this old table.
This is the premium for MyhealthPlus Option C back in Nov 2016. If you are an existing Myhealthplus Option C policy holder, you may check it against today's premium table.
Make sure you budget for medical insurance for your old age is still affordable.
There are a few more features of the AVIVA Myshield plan. I've focused the sharing on key points and changes that I've also shared with private clients.
If you want to find out how to downgrade or plan your coverage diferrently, look for a qualified adviser.