Integrated Shield Plan or just MediShield Life? Weighing the options

What to note when considering more comprehensive health insurance beyond the minimum

- Chor Khieng Yuit

Singaporeans are not using their health insurance plans fully, with about half of those with Integrated Shield Plans (IPs) going for subsidised care in public hospitals.

As Health Minister Ong Ye Kung previously noted, these patients needed only MediShield Life and hence could have saved a lot on IP premiums.

An IP provides additional coverage for stays in private hospitals, or in Class A and B1 wards in public hospitals.

This is on top of MediShield Life - the universal health insurance for all Singaporeans, regardless of their health status - which covers stays in B2 and C wards at public hospitals.

Dr Cynthia Chen, assistant professor at the Saw Swee Hock School of Public Health, said IPs also allow higher claim limits, so more of the healthcare bill will be covered by the IP insurer.

There are seven such insurers: AIA, Prudential, Great Eastern, HSBC Life, Singlife, Income and Raffles Health Insurance.

In order to decide on whether you want to take up an IP or go for basic medical care under MediShield Life, you should consider your preference for hospital and treatment options, said Mr Chan Wai Kit, executive director of the Life Insurance Association of Singapore (LIA Singapore).

For instance, do you want to stay in a public or private hospital? Do you want to choose your own doctor? In addition, there are benefits to getting more comprehensive health coverage while we are young, said Dr Chen.

Most of us would be healthy with no pre-existing conditions, so the insurer would cover most of our hospital admissions.

However, as we age, we are more likely to develop ailments and the insurer will exclude these health conditions from the coverage or charge very high premiums.

So when you buy early, you are locking in your health status, Dr Chen said, adding that if anything happens to you, you are more likely to be covered.