Do you need an integrated shield plan in Singapore?

In Singapore, as long you are a Singaporean or Permanent Resident, you will be automatically offered a mandatory hospital coverage plan called Medishield life. (https://www.moh.gov.sg/cost-financing/healthcare-schemes-subsidies/medishield-life)

Currently, it has a coverage of $150,000 per year and unlimited renewal for lifetime. This plan is fully payable by our CPF-medisave account.  There will be a portion of deductible and co-insurance you have to co-pay in an event of hospitalisation. 

With this compulsory cover already given to us, why are there people still considering the private (integrated) shields from insurers? 

In Singapore restructured hospital system, there are four type of ward classes, A, B1, B2 and C wards.

The Medishield life payout are designed for the subsidised Restructured B2 & C wards’s bill size. 

For integrated shield, you will be covered for the A class wards of Restructured or Private hospitals’ higher costs. Both Medishield life and Integrated shield work together and there is no duplication in cover. 

Here is a example of the bill size for stroke treatment (Restructured B2 vs Private A)

Source- Ministry of Health (MOH) website

If you see yourself choosing  Private A or Restructured A wards treatment and  having your own specialists choice is a must, it is advisable to consider an integrate Shield plan. The bill of private A wards(be private or restructured hospitals) are significantly higher. 

Note that buying an Integrated shield plan involve in higher cost and it does not cover pre-existing illness at the the time of application. So it is important to seek advise from a agent.

How about foreigners residing and working in Singapore? Are they at risks of high hospital costs in Singapore? For this topic, I will write in another article. Stay tuned.

Just a short real story. I have a client who have suffered a major stroke in 2011 and was admitted to Gleneagles Hospital for 6 months. The overall bill for that first admission was a staggering of $700,000. His integrated shield plan coverage is $1.2 million per year and unlimited for lifetime. Because of the choice he made when he was healthy, the ongoing private ward medical costs for the past 10 years are covered without burdening his family.

If you need any further advise or questions, do PM me. (click on the right tab of the web page)

Thank you.

** As with all disclaimers, the writing is based on my own experience and does not represent any companies’ view points.