What You Need To Know About Integrated Shield Plans

What Is MediShield Life & Why Do You Need An Integrated Shield Plan?

In Singapore, MediShield Life is a basic health insurance plan provided by the government that offers coverage for all Singaporeans and Permanent Residents, regardless of age or pre-existing conditions. While MediShield Life provides a safety net for healthcare expenses, it has certain limitations that may not be sufficient for every individual’s healthcare needs. This is where Integrated Shield Plans (IPs) come into play.

What Are Integrated Shield Plans?

Integrated Shield Plans (IPs) are health insurance plans provided by private insurers that work in conjunction with the government’s basic health insurance scheme, MediShield Life. Integrated Shield Plans offer enhanced coverage beyond what MediShield Life provides, catering to individuals who require higher coverage or prefer additional healthcare options.

How Do I Pay For An Integration Shield Plan?

Singaporeans and Permanent Residents (PR) can use their MediSave accounts to pay for the premiums of their Integrated Shield Plans (IPs), up to the prevailing MediSave withdrawal limits, making it more convenient and affordable to maintain coverage.

What Are The Key Features Of Integrated Shield Plans?
Key features of Integrated Shield Plans (IPs) include:

1. Enhanced coverage:
   IPs offer higher coverage limits, including daily hospitalisation allowances, surgical fees, and pre- and post-hospitalisation benefits. This helps reduce out-of-pocket expenses in the event of an illness or hospitalisation.
2. Higher ward class or private hospital coverage:
   While MediShield Life covers up to Class B2/C wards in public hospitals, IPs allow policyholders to choose higher ward classes such as Class A or B1 in public hospitals, or even private hospital stays, depending on the plan selected.
3. Additional benefits and riders:
   IPs often provide optional riders and additional benefits that can further enhance coverage. These may include critical illness coverage, co-payment and deductible waivers, or outpatient treatment coverage. These options allow policyholders to tailor their insurance coverage to their specific healthcare needs and preferences.
4. Seamless integration with MediShield Life:
   IPs are designed to integrate seamlessly with MediShield Life, so policyholders benefit from both the basic coverage provided by MediShield Life and the additional coverage offered by the Integrated Shield Plan.

What Are The Main Aspects To Consider When Getting An Integrated Shield Plan?

When selecting an Integrated Shield Plan (IP) in Singapore, it is crucial to consider the most important factors that impact your healthcare needs and financial planning. Here are some key aspects to prioritize:

1. Coverage level:
   Assess the level of coverage provided by the IP, which may range from basic coverage (similar to MediShield Life) to comprehensive coverage (including private hospital stays). Choose a plan that aligns with your healthcare preferences and anticipated medical expenses.
2. Hospital ward type:
   IPs offer coverage for different types of hospital wards (Class A, B1, B2, or C). Consider your preference and comfort level when choosing a plan, as this affects the overall cost and coverage.
3. Pre- and post-hospitalisation coverage:
   Review the extent of coverage for pre- and post-hospitalisation expenses, such as specialist consultations, diagnostic tests, and follow-up treatments. Ensure that the duration and coverage limits meet your healthcare needs.
4. Co-payment and deductibles:
   Understand the co-payment and deductible requirements under the IP, as these can result in out-of-pocket expenses. Choose a plan with manageable co-payments and deductibles that fit your budget.
5. Riders and additional benefits:
   Consider any optional riders or additional benefits available with the IP, such as coverage for critical illnesses, waiver of co-payments, or outpatient treatments. Evaluate the added value and cost of these riders before making a decision.
6. Premium affordability and sustainability:
   Assess the affordability of the premiums and any potential premium changes over time, as IP premiums typically increase with age. Choose a plan that fits your budget and is sustainable for the long term.
7. Policy renewal and lifetime coverage:
   Review the policy’s renewal terms and conditions, and ensure it provides lifetime coverage if required. This guarantees that the IP continues to meet your long-term healthcare needs.
8. Insurer reputation and financial stability:
   Choose an IP from a reputable insurer with a good track record of handling claims and providing customer support.
9. Claim process:
   Familiarize yourself with the claim process, required documentation, and any deadlines for submitting claims. This will make it easier to file a claim if the need arises.
10. Exclusions and limitations:
    Review the policy’s exclusions and limitations, such as pre-existing conditions or specific treatments not covered. Ensure that the IP provides adequate coverage for your needs and medical history.

What Are Some Lesser-Known Things To Look Out For When Deciding On Which Integrated Shield Plan To Get?

After considering the key aspects of an Integrated Shield Plan (IP), you should also consider the lesson-known factors to ensure you make an informed decision:

1. Pre-existing conditions:
   Some IPs may not cover pre-existing conditions or may require a waiting period before the coverage begins. Always disclose your medical history and check how the plan deals with pre-existing conditions.
2. Benefit limits and sub-limits:
   Review the annual, per-claim, or lifetime limits for various benefits, such as hospitalisation allowances or surgical fees. Also, pay attention to sub-limits for specific treatments or services, as they can affect your claimable amounts.
3. Coverage for non-surgical treatments:
   Some IPs may offer different coverage levels for non-surgical treatments, such as chemotherapy or radiotherapy. Ensure that the plan provides adequate coverage for these treatments if needed.
4. Overseas coverage:
   If you plan to travel or live abroad, consider whether the IP covers overseas medical treatments, and if there are any restrictions on the duration or type of treatments covered.
5. Waiting periods:
   Some IPs may have waiting periods for certain benefits or conditions, such as pregnancy-related hospitalisations or specified medical conditions. Be aware of these waiting periods and their implications on your coverage.
6. Changes in coverage:
   Understand the insurer’s right to change policy terms, benefits, or premium rates. This will help you prepare for any potential changes in coverage or costs during the policy term.
7. Coverage for alternative medicine:
   If you prefer alternative medicine treatments, such as Traditional Chinese Medicine (TCM) or chiropractic care, review the IP’s coverage for these services.
8. Coverage for psychiatric or mental health treatments:
   Mental health is an important aspect of overall well-being. Check if the IP provides coverage for psychiatric or mental health treatments.
9. Portability:
   If you switch insurers in the future, consider whether the new policy will cover your pre-existing conditions and if there’s a waiting period before coverage begins.

In summary, Integrated Shield Plans in Singapore are health insurance policies that complement MediShield Life, offering enhanced coverage and greater choice in healthcare options. They provide policyholders with better financial protection against high medical expenses and the flexibility to choose their preferred level of healthcare services.

When considering an IP, it’s essential to evaluate your healthcare needs and financial situation to select the most appropriate plan for you. Don’t forget to compare different plans, consult with a financial advisor or insurance agent if necessary, and carefully review the policy terms and conditions.