New Users Registration  |  Useful Links  |  FAQ  |  Site Map 
 
Go Search

 

Skip Navigation LinksHealth Xchange > Healthy Living > Special Focus > Why Should You Consider Getting a Private Integrated Shield Plan
  Special Focus  
 

Why Should You Consider Getting a Private Integrated Shield Plan?

 
  Source: Mr. Lionel Leong, Financial Consultant, Financial Alliance Pte Ltd  
     
 

What is a Private Shield Plan?

A Shield plan is designed to cover major/catastrophic events related to Hospitalisation & Surgery (H&S). It is not meant to cover minor ailments and visits to general practitioners.

CPF Board operates the CPF MediShield, which covers up to 80 per cent of your H&S bills at subsidised wards in restructured hospitals.

The private Integrated Shield Plans run by private insurers are designed to cover hospitalisation in A & B1 wards in restructured hospitals and private hospitals. You may still choose to stay in a subsidised ward if you have a private Shield plan. 

Figure 1: Compares some key details between MediShield and private Shield plans.

   Intended Coverage  Features  Payment  Mode Co -Payment 

Riders/ Add ons 


CPF MediShield
 Restructured hospital B2 ward & below  Has a sub limit  CPF  Co- Insurance
Deductible
 No
 Private Shield Plan ( also known as Integrated Shield Plan)  Up to private hospital (depending on choice of plan)  As charged  CPF + cash Co-Insurance 
Deductible
 Yes

Below are some FAQs related to Shield plans and integrated Shield plans.

I have basic MediShield from the CPF Board. Do I need an integrated Shield plan ?

Yes. I strongly believe that everyone living in Singapore should purchase an integrated Shield plan (if you can afford the premiums). CPF Board administers MediShield, which is only basic medical insurance. An integrated Shield plan is designed to complement it and works to cover major hospitalisation events as our government recognises that the basic MediShield may not be sufficient to meet a person’s medical needs.

Both private Shield plans and CPF MediShield plans impose a deductible and co-insurance.

The newer private Shield plans work on an “As Charged” basis when compared to CPF MediShield, which has sub-limits.

Also, the integrated Shield plans cover the insured's entire lifetime while CPF MediShield only provides coverage until the age of 85.

How does the private Shield plan work ?

When you purchase a private Shield plan, it actually sits on top of your basic MediShield. That simply means that you are extending the hospitalisation coverage. Think of MediShield as an umbrella. Now when you buy a private Shield plan, you are upgrading to a bigger umbrella. When riders are added on, it gets even bigger.

What is the difference between an integrated Shield plan and other H&S plans ?

Other H&S plans in the market are payable by cash only. These include your employer's Group H&S plans and comprehensive health plans. Typically, outpatient treatment, e.g, a visit to your general practitioner, is covered as well.

In terms of premium, the integrated Shield plans are very competitive due to the large pool of insured (as compared to cash H&S plans). Please refer to the following link for more information: http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=342

What is a Letter of Guarantee and how does it work?

When you are hospitalised, you need to place a deposit with the medical institution before treatment even begins. This usually comes from your Medisave account or cash. However, NTUC and Aviva offer a Letter of Guarantee (LOG), which allows the waiver of deposit up to $10,000. This is granted on a case by case basis.

I am already covered with an earlier integrated Shield plan. Should I upgrade the plan to the newer enhanced plans with “As Charged” features?

Yes. Medical cost is rising. The older plans have sub-limits and in general, there are limitations like a lower annual limit and lower lifetime limit. With the new enhanced plans in place, you have peace of mind that the bulk of your medical bills will be covered.

Page 1 l Page 2

Ref: U11

Term of Use / Disclaimer
All information provided within this web and mobile application is intended for general information and is provided on the understanding that no surgical and medical advice or recommendation is being rendered. Please do not disregard the professional advice of your physician.

 
 

 

 
     
  Ask the Specialists - Free Doctor Q&A
(Now - 15th Nov)
 
    Women's Pain
If you have question on pain management as it relates to a woman’s health, take this opportunity to ask our expert.
 
    Answered Q&As
Check out our archive for all our previous doctor's Q&As!
*Latest Update: Stress and Anxiety
 
e-Appointment Online
Health Buddy App