What is Medishield Life and Why is it not enough?

Following the recent case about an elderly, Mr Seow (Read full details here); he was unable to make a full claim due to his subsidised hospital bill which was $1,400 above his claim limit, thus allowing him to claim only $4.50 with his Medishield Life policy.

Medishield Life, defined by MOH as a basic health insurance plan, administered by the Central Provident Fund (CPF) Board, which helps to pay for large hospital bills and selected costly outpatient treatments, such as dialysis and chemotherapy for cancer. It is structured so that patients pay less MediSave/cash for large hospital bills.

Patients are eligible for subsidised treatment in public hospitals and pegged at B2/C-type wards. If you choose to stay in an A/B1-type ward or in a private hospital, you are still covered by MediShield Life. However, you will find that your MediShield Life payout will cover only a small proportion of your bill. You would need to draw from MediSave and/or cash to pay the balance.*

Therefore, it will seem like having Medishield Life itself is not enough.

Integrated Shield Plan (Highly Recommended)

Like the frosting to the cupcake, an add on that enhances the basic health insurance coverage, this covers the treatments and stay in a private hospital, class A/B1 wards in public/government hospitals. This also ensures a guarantee of 100% coverage depending on the level of policy purchased, which of course, requires a certain sum of premium.

For patients who are unable to afford their hospital bills first hand, you may request for direct settlement provided that you inform your financial advisor in advance or a direct call-in (Great Eastern). Good news is that medisave is allowed to pay for a certain amount up to 100%(depending on age) of the premium required.

The Cherry on Top

To achieve a full health protection, Rider benefits those who requires out-of-hospital care, such as outpatient expenses. For those who travels often and requires overseas treatment are recommended to purchase. However, not all riders provide such benefits. It is recommended to speak to your financial agent to understand more.

For more details and to understand more, contact us.

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