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Insure under Medishield Life
09 Jun 2021 (698 views)

I advise older people to insure under the basic Medishield Life plan provided by the government.  The premium is quite affordable (I pay $500 a year after government subsidy) for my age 73 years).

This plan covers treatment in B2 and C wards in public hospitals. The quality of the medical care is quite satisfactory.

Over 50% of the population prefer to buy the Integrated plan (IP) provided by private insurers. It covers the higher class wards. However, the premium could be more than $3,000 a year.

Is it really necessary to be treated in a higher class ward? I find the subsidized wards (B2 and C) to be satisfactory.

Some people think that there is a long queue for treatment in subsidized wards. This is probably the case, but it applies to non-emergency treatment. 

For emergency treatment, the patient is treated immediately in subsidized wards.

There is also a misconception that the IP covers a larger part of the bill, compared to the basic plan.

The co-payment under an IP is usually much higher than that of the basic plan. The key difference is that the basic plan restricts treatment in the subsidized wards, which are less costly than the higher wards.

The premium rate for IP have been increased at 10% or more each year for the past many years. It will become more expensive as time passes.

A person who is now insured under an IP can move to the basic Medishield Life at any time. He or she only needs to inform the private insurer of the option to move to the basic plan. The private insurer will arrange the transfer immediately or at the next renewal date.

Those who do not mind to pay the higher premium can stay with the IP. Those who wish to pay a lower premium can move to the basic plan. It is up to their personal preference.

Tan Kin Lian
 


Insure under Medishield Life
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I advise older people to insure under the basic Medishield Life plan provided by the government.  The premium is quite affordable (I pay $500 a year after government subsidy) for my age 73 years).

This plan covers treatment in B2 and C wards in public hospitals. The quality of the medical care is quite satisfactory.

Over 50% of the population prefer to buy the Integrated plan (IP) provided by private insurers. It covers the higher class wards. However, the premium could be more than $3,000 a year.

Is it really necessary to be treated in a higher class ward? I find the subsidized wards (B2 and C) to be satisfactory.

Some people think that there is a long queue for treatment in subsidized wards. This is probably the case, but it applies to non-emergency treatment. 

For emergency treatment, the patient is treated immediately in subsidized wards.

There is also a misconception that the IP covers a larger part of the bill, compared to the basic plan.

The co-payment under an IP is usually much higher than that of the basic plan. The key difference is that the basic plan restricts treatment in the subsidized wards, which are less costly than the higher wards.

The premium rate for IP have been increased at 10% or more each year for the past many years. It will become more expensive as time passes.

A person who is now insured under an IP can move to the basic Medishield Life at any time. He or she only needs to inform the private insurer of the option to move to the basic plan. The private insurer will arrange the transfer immediately or at the next renewal date.

Those who do not mind to pay the higher premium can stay with the IP. Those who wish to pay a lower premium can move to the basic plan. It is up to their personal preference.

Tan Kin Lian