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Are You Concerned About The Increasing Cost Of Hospitalisation?


What is MediShield Life? ⁉️ MediShield Life is a basic health insurance scheme that protects all Singapore Citizens and Permanent Residents (PRs) against large hospital bills for life, regardless of age or health condition. The all-inclusive compulsory insurance by the Government is designed to provide coverage for Class B2 or C wards in public hospitals. There is no need to apply for MediShield Life.


How do I pay for Medishield Life? 💵 MediShield Life premiums can be fully paid using your Medisave, one of the accounts in your Central Provident Fund (CPF) which is meant to pay for hospitalisation bills. 👍


Those with “serious pre-existing conditions” will only need to pay 30% Additional premiums for 10 years to reflect their higher risk. Examples of such conditions include cancer, heart disease and schizophrenia.


Is MediShield Life enough? Do I need to purchase a private Integrated Shield Plan (IP)? 🤔

MediShield Life is meant as a form of basic coverage in the event of a hospitalisation -- meaning you pay less for your hospital bill, but the fact remains that an out-of-pocket cash component still exists.


In considering whether or not to get a private IP, ask yourself what type of ward you would want to stay in should you be admitted to a hospital.

MediShield Life can be used both in public and private hospitals. However as the coverage is designed for Class B2 or C wards in public hospitals, the higher cost of hospitalisation in Class B1 ward and above would have to be borne by you. 🏥


How can I enhance MediShield Life Coverage? 😉 If you plan to use an A/B1-type ward in a public hospital or go to a private hospital for your future hospitalisations, you can consider purchasing a MediSave-approved private Integrated Shield Plan (IP).


What is a private Integrated Shield Plan (IP)? 🧐 An integrated shield plan has two components – Medishield Life + Additional Private insurance coverage! Medishishield Life (managed by CPF Board) – enough to cover your large hospital bills in Class B2 or C wards in public hospitals. 🏩


Additional Private Insurance coverage (managed by Private Insurer) – Provides additional coverage (e.g. to cover the costs of private hospitals or Class BI or A wards in public hospitals) 🏩


How do I pay for Integrated Shield Plan? 💰 If you have an IP, you are already covered by MediShield Life. The premiums you pay to your private insurer alre ady include the premiums for the MediShield Life component.


Can I pay my IP premiums using Medisave? 🤑

The MediShield Life component of your Integrated Shield Plan is fully payable by MediSave. 🙌


The additional private insurance component is also payable by MediSave, but only up to the following Additional Withdrawal Limits: • $300 per year for those at age 40 years and below on their next birthday 💵 • $600 per year for those at age 41 to 70 years on their next birthday 💵 • $900 per year for those at age 71 years and above on their next birthday 💵 Any excess would need to be paid in cash. 💰

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