{"id":874,"date":"2022-11-02T14:30:00","date_gmt":"2022-11-02T06:30:00","guid":{"rendered":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/?p=874"},"modified":"2022-11-08T23:50:55","modified_gmt":"2022-11-08T15:50:55","slug":"3-things-you-didnt-know-about-medishield-life-vs-integrated-shield-plan","status":"publish","type":"post","link":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/3-things-you-didnt-know-about-medishield-life-vs-integrated-shield-plan\/","title":{"rendered":"\u00a03 Things You Didn&#8217;t Know About MediShield Life vs. Integrated Shield Plan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"874\" class=\"elementor elementor-874\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1b30005 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1b30005\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"aux-parallax-section elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-53e61a1\" data-id=\"53e61a1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-abbf242 elementor-widget elementor-widget-text-editor\" data-id=\"abbf242\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Are you aware that if you are a Singapore citizen or a permanent resident, you&#8217;re automatically covered by MediShield Life? Did you also know that two-thirds of Singaporeans and Permanent Residents have purchased the Integrated Shield Plan?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-32b4211 elementor-widget elementor-widget-heading\" data-id=\"32b4211\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Integrated Shield Plan &amp; MediShield Life: What\u2019s the difference?\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4514923 elementor-widget elementor-widget-heading\" data-id=\"4514923\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">MediShield Life<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9539ce elementor-widget elementor-widget-text-editor\" data-id=\"a9539ce\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-preserver-spaces=\"true\">MediShield Life is a mandatory national health insurance program for all Singaporeans and permanent residents. This is basically an improved version of MediShield that was introduced in 2015, providing improved coverage than MediShield.<\/span><\/p><p><span data-preserver-spaces=\"true\">MediShield Life offers:<\/span><\/p><ul><li style=\"list-style-type: none;\"><ul><li><span data-preserver-spaces=\"true\">Enhanced protection and higher payouts which means patients can use their Medisave to cover costly medical care<\/span><\/li><li><span data-preserver-spaces=\"true\">Covers all Singaporean citizens and permanent residents, even the elderly and those with preexisting medical conditions<\/span><\/li><li><span data-preserver-spaces=\"true\">Offers lifetime coverage<\/span><\/li><li><span data-preserver-spaces=\"true\">No claim limit (currently set at$150,000); You can rest easy knowing that your coverage will continue even if you incur high medical costs at a young age<\/span><\/li><\/ul><\/li><\/ul><p><span data-preserver-spaces=\"true\">Other advantages, such as daily ward and surgical claim limits, have also improved. In other words, compared to the previous MediShield coverage, MediShield Life is really a significant enhancement.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-99e5300 elementor-widget elementor-widget-heading\" data-id=\"99e5300\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Integrated Shield Plan (IP)<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9cdeec7 elementor-widget elementor-widget-text-editor\" data-id=\"9cdeec7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-preserver-spaces=\"true\">An Integrated Shield Plan (IP) comprises two parts: the MediShield Life component, administered by the Central Provident Fund (CPF) Board, and a private insurance coverage portion provided by a private insurer.<\/span><\/p><p><span data-preserver-spaces=\"true\">The MediShield Life coverage is intended for stays in Class B2\/C wards of public hospitals. The supplementary insurance coverage provided by the private insurer will give you a higher degree of protection than what is offered by public hospital Class B2\/Class C wards.<\/span><\/p><p><span data-preserver-spaces=\"true\">Some private insurers offering Integrated Shield Plans are listed below:<\/span><\/p><ul><li><span data-preserver-spaces=\"true\">AIA<\/span><\/li><li><span data-preserver-spaces=\"true\">Singlife with Aviva<\/span><\/li><li><span data-preserver-spaces=\"true\">AXA<\/span><\/li><li><span data-preserver-spaces=\"true\">Great Eastern<\/span><\/li><li><span data-preserver-spaces=\"true\">NTUC Income<\/span><\/li><li><span data-preserver-spaces=\"true\">Raffles Shield<\/span><\/li><li><span data-preserver-spaces=\"true\">Prudential<\/span><\/li><\/ul><p>Private insurance companies such as <span style=\"font-weight: 400;\"><a href=\"https:\/\/blog.moneysmart.sg\/health-insurance\/aviva-myshield-ip\/\">AIA<\/a>, <a href=\"https:\/\/blog.moneysmart.sg\/health-insurance\/aviva-myshield-ip\/\">Singlife with Aviva<\/a>, <a href=\"https:\/\/blog.moneysmart.sg\/health-insurance\/axa-shield-review-ip\/\">AXA<\/a>, <a href=\"https:\/\/blog.moneysmart.sg\/health-insurance\/great-eastern-supreme-health-ip\/\">Great Eastern<\/a>, <a href=\"https:\/\/blog.moneysmart.sg\/health-insurance\/ntuc-enhanced-incomeshield-ip\/\">NTUC Income<\/a>, <a href=\"https:\/\/blog.moneysmart.sg\/health-insurance\/raffles-shield-review-ip\/\">Raffles Shield<\/a>, and <a href=\"https:\/\/blog.moneysmart.sg\/health-insurance\/prudential-prushield-ip\/\">Prudential<\/a><\/span> are all part of the Integrated Shield Plans (IPs) that provide supplementary health care coverage beyond that offered by MediShield Life. With such plans, you can acquire additional coverage in private and public hospitals with Class B1 or A wards, but in exchange for a more expensive premium than MediShield Life.IPs are similar to the &#8220;upsized&#8221; version of a meal: you get more for your money and pay more.<\/p><p>However, the introduction of MediShield Life in 2015 has led to some misunderstandings. Let&#8217;s clear up some of the most often-asked questions and misconceptions about MediShield Life.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe7e18f elementor-widget elementor-widget-heading\" data-id=\"fe7e18f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Misconception #1: I feel like the coverage I get from MediShield Life is enough. I should  not keep my Integrated Shield Plan cover.<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1942389 elementor-widget elementor-widget-text-editor\" data-id=\"1942389\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Earlier, we compared the Integrated Shield Plans (IP) to a supersized fast food meal. This is the best analogy, as the main course never changes but only upgrades the food with extra sides. Regardless of the size of your order, the main dish will still be served. If the quantity of your meal remains unchanged, the pricing will also be the same. However, the price will also increase if you upgrade to a larger size.<\/p><p>Similarly, registering in an IP would not reduce your MediShield Life premiums, and you will still continue to pay for it. The additional premium you pay is for the IP&#8217;s enhanced coverage. This includes coverage for pre- and post-hospitalization fees, emergency treatment abroad, higher ward rooms, and the opportunity to add riders to cover deductibles and co-insurance. Having an integrated shield plan to cover the cost of medical care while you recover from surgery is a huge relief. But of course, premiums are more expensive than those of MediShield Life because of the plans&#8217; more incredible features.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b08f4ff elementor-widget elementor-widget-heading\" data-id=\"b08f4ff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">What are Deductible and Co-insurance?\n<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3685875 elementor-widget elementor-widget-text-editor\" data-id=\"3685875\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The deductible is the cost that must be paid before any claims are paid. In comparison, co-insurance is the amount you must co-insure after settling the deductible.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3274c22 elementor-widget elementor-widget-heading\" data-id=\"3274c22\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">What are riders?<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de3ce4c elementor-widget elementor-widget-text-editor\" data-id=\"de3ce4c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>When you file a claim under your Integrated Shield Plan, private insurers may provide riders as supplemental products to pay the co-insurance and deductible components of your bill (IP). Some riders also offer extra benefits if you are hospitalized.<\/p><p>Policyholders must pay separately in cash for riders since they are not MediSave-approved plans.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b13651a elementor-widget elementor-widget-heading\" data-id=\"b13651a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Misconception #2: The coverage from MediShield Life is substandard<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1dbe8d1 elementor-widget elementor-widget-text-editor\" data-id=\"1dbe8d1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In the same way that you might not need to upgrade your meal if the basic meal is filling enough for you, the additional coverage provided by an Integrated Shield Plan might not be required as well.<\/p><p>MediShield Life provides adequate coverage when you are hospitalized, particularly if you want to stay in a Class B2 or C ward at a public hospital.<\/p><p>Then why do so many diners choose to upgrade their meals? It&#8217;s simply because we might enjoy a more extensive lunch with extra dessert and drinks. Similarly, the IPs aim to cover the costs associated with staying in a higher-class ward at a public or even a private hospital in the event of hospitalization.<\/p><p>Keep in mind that you will still be covered by MediShield Life if you wind up in a Class A or B1 ward or if you want to go to a private hospital. Still, you may expect to pay a substantial price because the benefits are based on the expected costs of public hospitals&#8217; Class B2 and C wards.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e72d2b6 elementor-widget elementor-widget-heading\" data-id=\"e72d2b6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Misconception #3: MediShield Life's premiums are way too pricey \n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9cc87d6 elementor-widget elementor-widget-text-editor\" data-id=\"9cc87d6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Although rates had gone up when MediShield Life was launched compared to the old MediShield, many Singaporeans also qualify for subsidies to make up for the increase.<\/p><p>Here are some examples:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b84e48b elementor-widget elementor-widget-image\" data-id=\"b84e48b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1080\" height=\"696\" src=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/subsidies-e1667318572217.png?fit=1080%2C696&amp;ssl=1\" class=\"attachment-full size-full wp-image-875\" alt=\"\" srcset=\"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/subsidies-e1667318572217.png?w=1080&amp;ssl=1 1080w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/subsidies-e1667318572217.png?resize=200%2C129&amp;ssl=1 200w, https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2022\/11\/subsidies-e1667318572217.png?resize=280%2C180&amp;ssl=1 280w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">source:https:\/\/blog.moneysmart.sg\/health-insurance\/medishield-life-and-integrated-shield-plans\/<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ace050 elementor-widget elementor-widget-text-editor\" data-id=\"3ace050\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Remember that no matter how reasonably priced MediShield Life premiums are, you may pay for it entirely out of your Medisave account. Thus it won&#8217;t even affect your cash flow.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d222066 elementor-widget elementor-widget-heading\" data-id=\"d222066\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Is an Integrated Shield Plan a better option than MediShield Life?\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f876309 elementor-widget elementor-widget-text-editor\" data-id=\"f876309\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>It ultimately boils down to your financial situation and whether or not you can afford the higher premiums of IPs. Are you content with sharing a Class B2 or C ward with others? Don&#8217;t you need additional coverage for pre- and post-hospitalization fees, emergency treatment abroad, higher ward rooms, and additional riders to cover deductibles and co-insurance? If that&#8217;s the case, you may continue relying solely on MediShield Life.<\/p><p>On the other hand, if you prefer privacy and have more options in some circumstances, like deciding on your doctor and the type of hospital room(air-conditioned or not), and are willing to pay higher rates over time, then you may choose to consider IP coverage.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Are you aware that if you are a Singapore citizen or a permanent resident, you&#8217;re automatically covered by MediShield Life? Did you also know that two-thirds of Singaporeans and Permanent Residents have purchased the Integrated Shield Plan? Integrated Shield Plan &amp; MediShield Life: What\u2019s the difference? MediShield Life MediShield Life is a mandatory national health [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[27],"tags":[30],"class_list":["post-874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","tag-protection"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-content\/uploads\/2020\/01\/1.png?fit=1507%2C969&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/comments?post=874"}],"version-history":[{"count":5,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/874\/revisions"}],"predecessor-version":[{"id":888,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/posts\/874\/revisions\/888"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media\/905"}],"wp:attachment":[{"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/media?parent=874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/categories?post=874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sg-financialadvice.com\/UnderstandingCareshieldLife\/wp-json\/wp\/v2\/tags?post=874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}