Best Health Insurance That Covers Pre-existing Conditions
Health insurance for pre-existing conditions is essentially insurance policies that cover long-term and/or chronic pre-existing health conditions. This includes any illness or disability that may affect you during your health insurance application or is likely to occur in the future.
While the definitions vary from policy to policy, it is vital to be aware of these conditions as your health insurance policy may be rendered useless if you fail to disclose your pre-existing conditions transparently. The trust insurers have in you will be endangered, if you do not ensure the accuracy of the information provided. If they do not accept your reasons for negligence, insurers maintain the right to terminate your policy and can reject all claims dealing with those pre-existing conditions.
Long story short, this will defeat your purpose of owning health insurance in the first place!
Looking To Buy Health Insurance?
Find the best health insurance plans and compare the different coverages including pre-existing condition, private hospitals and more.
What Is Considered A Pre-existing Medical Condition?
In order to prepare yourself better and help safeguard your financial well-being, especially when large sums of money are involved in medical treatments, it is best to be familiarised with these pre-existing conditions.
Broad Categories Of Serious Pre-Existing Conditions
| Broad Categories | Examples | |
|---|---|---|
| Autoimmune/ Immune System Disease | Systemic lupus erythematosus, Human Immunodeficiency Virus/ Acquired Immune Deficiency Syndrome (HIV/ AIDS) | |
| Blood Disorders | Aplastic Anaemia, Thalassemia Major | |
| Cancer | Lung cancer, colorectal cancer, breast cancer, stomach cancer | |
| Cerebrovascular Diseases | Stroke | |
| Chronic Condition with serious complications | Hypertensive heart disease, Hypertensive kidney disease, Diabetes with kidney complications, Diabetes with eye complications | |
| Degenerative Diseases | Parkinson’s Disease, Muscular Dystrophy, Amyotrophic Lateral Sclerosis (ALS) | |
| Heart or other Circulatory System Diseases | Heart attack, Coronary artery disease, Chronic ischaemic heart disease | |
| Liver Diseases | Alcoholic liver disease, Chronic hepatitis, Fibrosis or cirrhosis of the liver | |
| Psychiatric Conditions | Schizophrenia | |
| Renal Diseases | Chronic renal disease, Chronic renal failure, Chronic nephritic syndrome | |
| Respiratory Diseases | Chronic obstructive pulmonary disease | |
| Serious Congenital Conditions | Congenital heart disease, Congenital renal disease, Biliary atresia |
Best Health Insurance Plans For Pre-existing Conditions
Administered by the Central Provident Fund, MediShield Life provides lifelong protection against large hospital bills, regardless of age or health condition. It is the basic health insurance plan accessible for all Singaporeans and Singapore Permanent Residents, making it what we consider the classic safety net!
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If you'd like to find out more about some myths surrounding MediShield Life and other information including premiums and coverage, you can check out our blog article on this here.
Viewing the issue of the aging population against the harsh reality of increasing medical costs, we are well aware that many of us may not be purchasing insurance policies for ourselves but are looking out for our elderly family members.
Available for people aged 50 to 74, Silver Protect is a term insurance coverage for seniors that protects against early and advanced-stage cancers. While this plan is not guaranteed acceptance, as long as applicants are transparent about their conditions, Income’s Silver Protect can help you or your loved ones retire in comfort and security. You can always consider other policies for the elderly such as travel insurance or more health insurance options, if this plan isn’t suitable for you or your loved ones.
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Get the Right Plan
Know a friend or family member who may be struggling to find health insurance policies that can cover pre-existing illnesses? Send them this article now to help ease their financial worries. After all, health is wealth, and at MoneySmart, we wish to aid you in safeguarding both aspects of life in preparation for a better future.
Frequently Asked Questions
Do employer health insurance plans cover pre-existing conditions?
- Not all employer health insurance covers pre-existing conditions, and it would work best in your favour if you could clarify with your employer on this front. Always review your company benefits to see if their insurance coverage is up to your level of expectation and whether medical benefits are portable.
Will I be denied health insurance because of a pre-existing condition?
- Although this may be the worst-case scenario for anybody looking to purchase insurance, it is standard practice for an insurance clause to include “No coverage for pre-existing conditions”. Hence, early clarification with your prospective insurer and agents will be ideal.
Can I use my MediSave to pay for my family member's MediShield Life premiums?
- Yes, you will be able to use your MediSave to fully pay for your family member's MediShield Life premiums.