Skip Navigation Links
Elderly people should stay with Medishield Life
03 Sep 2020 (116 views)

I have advised elderly people to stay with Medishield Life and not upgrade to an integrated plan.

Let me explain why.

I am now insured under Medishield Life. I am 72 years old. My annual premium is shown below:

Standard Medishield Life premium $885
Less Premium Rebate $78
Premium before subsidies $807
Pioneer Generation Subsidies $359.68
Net premium payable (inclusive of GST) $447.32

Do you know how much I have to pay under an integrated plan from a private insurance company?

See the quote below. It is $1,900 for a 4 bedded ward (B2?). Yes, it is four times the cost.

How is it better than Medishield Life? Sorry, I don't know. I am not interested. It is too complicated.

I also find the premium for Medishield Life to be quite complicated, with so many "subsidies". Why does the government have to make it so complicated?

Anyway, Medishield Life (which CPF operates on behalf of MOH) is quite happy with me as a customer. I have been paying the premium for many years and have not made any claim.

If you are elderly and insured under an integrated plan, you can downgrade to Medishield Life at any time. Just tell your private insurer. They will do the down-grading for you.

They may send an insurance agent to try and persuade you to stay with them. You can listen to the reason. If you are not convinced, stick to your decision. Do not spend money anyhow when you do not really know how useful it is.






 


Elderly people should stay with Medishield Life
[Back] [Print]


I have advised elderly people to stay with Medishield Life and not upgrade to an integrated plan.

Let me explain why.

I am now insured under Medishield Life. I am 72 years old. My annual premium is shown below:

Standard Medishield Life premium $885
Less Premium Rebate $78
Premium before subsidies $807
Pioneer Generation Subsidies $359.68
Net premium payable (inclusive of GST) $447.32

Do you know how much I have to pay under an integrated plan from a private insurance company?

See the quote below. It is $1,900 for a 4 bedded ward (B2?). Yes, it is four times the cost.

How is it better than Medishield Life? Sorry, I don't know. I am not interested. It is too complicated.

I also find the premium for Medishield Life to be quite complicated, with so many "subsidies". Why does the government have to make it so complicated?

Anyway, Medishield Life (which CPF operates on behalf of MOH) is quite happy with me as a customer. I have been paying the premium for many years and have not made any claim.

If you are elderly and insured under an integrated plan, you can downgrade to Medishield Life at any time. Just tell your private insurer. They will do the down-grading for you.

They may send an insurance agent to try and persuade you to stay with them. You can listen to the reason. If you are not convinced, stick to your decision. Do not spend money anyhow when you do not really know how useful it is.