MediShield and Integrated Shield Plan: The Perfect Health Insurance Combo

Whiplash

Health InsuranceA MediShield Integrated Shield Plan (IP) is a comprehensive health insurance plan that covers major incidents related to surgery and hospitalisation. People do not usually use it to cover minor hospital costs and general doctor visits.

How Does an Integrated Shield Plan Work?

MediShield is your basic health insurance that covers as much as 80% of your hospital bills at government-subsidised wards in public hospitals. This Central Provident Fund (CPF) Board-operated is available to all Singaporeans and permanent residents.

The MediShield Integrated Shield Plan, as per BeHeartStrong.com.sg, on the other hand, is your private health insurance. This usually covers hospital fees in class A and B1 wards in private or public hospitals. You can, however, still choose to stay in a public hospital and in a subsidised ward when you use your IP. A private IP sits atop your MediShield and offers more comprehensive coverage.

Private IPs sits atop your MediShield and offers more comprehensive coverage. Think of your MediShield as a house. When you purchase an IP, you are simply upgrading your house to a bigger one. In addition, MediShield does not allow riders or add-ons, while IPs do.

Is an Integrated Shield Plan Really Needed?

Procure private insurance if you can afford its premiums. MediShield is as basic as a standard health insurance, while an IP supplements and covers more major hospitalisation requirements. Government actually recommended having IPs because they know that the basic coverage MediShield offers may not be adequate to cover more costly hospitalisation bills.

While both MediShield and IPs strictly impose co-insurance and deductibles, MediShield has sub-limits and IPs functions on the ‘As Charged’ basis. In addition, MediShield can only offer coverage until you are 85 years old, while IPs offers lifetime coverage.

Furthermore, if you have an IP but you still want to save more money, then you may also try qualifying for MediShield subsidies — Premium for individuals with low to middle incomes, Transitional Subsidies, and Pioneer Generation Subsidies — as long as you meet the eligibility requirements.+