The Ministry of Health introduced enhancements to the MediShield coverage from 1 November 2015. Here are 5 things that you should know about the new scheme, MediShield Life.
Since 1 November 2015, the Ministry of Health has introduced enhancements to the MediShield coverage for all Singaporeans and PRs. The new scheme is now named “MediShield Life”.
If you are not sure what the changes are and how they will impact you and your family, here are 5 things that you can expect from MediShield Life:
Coverage for everyone
MediShield Life will cover all Singaporeans and Permanent Residents, including those with pre-existing conditions. Coverage is automatic and compulsory; there is no need to apply.
Coverage for life
Lifetime coverage was previously only offered by private insurers via Medisave-approved Integrated Shield Plans (IPs). Now, the MediShield Life component will also be extended to lifetime coverage. This is good news, since we typically require more healthcare as we get older.
Increased claim limits
With rising healthcare costs, the claim limits for MediShield Life will also be increased, helping to reduce the amount you may need to pay by cash or Medisave. But while the claim limits have been increased, there are still limitations, which are listed on the MOH website here.
If you prefer to be covered for the full amount1 that the hospital charges – known in insurance lingo as “as-charged coverage” – as well as enjoy coverage for pre- and post-hospitalisation treatments (which MediShield Life doesn’t cover), then you may consider purchasing an IP from an insurer, such as Aviva’s MyShield plan.
The new scheme has not changed everything. Under MediShield Life, your co-insurance and deductible will still exist and you will still be allowed to integrate it with IPs. Click on next to find out what does this mean.