Integrated Shield Plans vs. MediShield Life: What You’re Missing Out On

 Healthcare in Singapore is reliable and efficient, but when you or your loved ones need more than just basic healthcare, the bills can quickly add up. Fortunately, there are different health insurance options that can help manage these costs. If you are only depending on the coverage from MediShield Life, you may be missing out on important benefits.

Let us break down the differences between MediShield Life and Integrated Shield Plan (IP) to help you make an informed decision for your healthcare and financial needs in Singapore.

What is MediShield Life?

MediShield Life is a basic health insurance scheme administered by the CPF Board. It provides automatic coverage for all Singapore Citizens and Permanent Residents, regardless of age or pre-existing health conditions. The plan helps cover large hospital bills and selected outpatient treatments such as chemotherapy and dialysis.

However, MediShield Life is intended for stays in Class B2 or C wards in public hospitals. These subsidised wards offer limited amenities and doctor options. While it provides essential coverage, it may not be sufficient for those seeking enhanced comfort or flexibility.

What is an Integrated Shield Plan?

An Integrated Shield Plan (IP) supplements MediShield Life with additional coverage from from private insurers. These plans offer enhanced benefits, including:

·         Access to Class A or B1 wards in public hospitals

·         Option to receive treatment at private hospitals

·         Greater flexibility in choosing your preferred doctor and treatment options

 

With an IP, you still receive the benefits of MediShield Life while enjoying additional coverage and comfort tailored to your healthcare preferences.

What Are You Missing Out on with only MediShield Life?

Here is what you might miss out on if you rely only on MediShield Life:

Access to Private Hospitals and Better Wards

MediShield Life does not fully cover stays in Class A wards or private hospitals. Choosing these options may result in significant out-of-pocket expenses. An IP helps offset these costs, allowing you to access better facilities with financial support.

Optional Riders

IPs allow you to add riders that can further reduce out-of-pocket expenses, such as covering deductibles and co-insurance.  These additional coverages are not available under MediShield Life.

Customised Coverage to suit Different Budgets

Integrated Shield Plans come in various tiers, allowing you to select the level of coverage and type of hospitals that match your comfort and budget. Some plans are more affordable than you might expect.

Who Should Consider Integrated Shield Plans?

Integrated Shield Plans are suitable for a wide range of individuals, including:

·         Young adults who want long-term financial security

·         Families who value comfort and choice in medical care

·         Seniors looking for better hospital experiences

·         Anyone who wants peace of mind during a medical emergency

Purchasing an IP early – while you are young and healthy - can help secure lower premiums, as insurers assess you as lower risk.

While MediShield Life may suffice for basic healthcare needs, an Integrated Shield Plan offers greater flexibility and enhanced hospital options. It gives you more comfort and stronger financial protection when you need it most.

Comparing plans and talking to an advisor can help you pick the best one for your needs. Do not wait for a medical emergency to rethink your coverage. 

Original Source:-  Integrated Shield Plans vs. MediShield Life: What You’re Missing Out On