Thursday, April 12, 2012

MediShield

For those who prefer to watch video instead of reading the text below about MediShield. Click here to view webcast to know more about MediShield.

What is MediShield?
MediShield is a medical insurance scheme which is designed to helps CPF members meet the large costs of your hopitalisation at Class B2 or C wards.

For Singaporeans who plan to use Class B1 or higher ward classes, you may wish to consider purchasing Medisave-approved private Integrated Shield Plans on top of your Medishield. MediShield and other Medisave-approved private Integrated Shield Plans are designed to cater to your different insurance coverage needs.

Premiums for MediShield are commonly paid by Medisave. The premiums for Integrated Shield Plans can be paid through Medisave up to a limit of $800 per per year per insured person. For those above 80 years old, the Medisave withdrawal limit was increased to $1,150 per year per insured person from 1 December 2008.

Who are insured under MediShield?
MediShield is an opt-out scheme. This means that Singaporeans or Permanent Residents will automatically be insured under MediShield when they first contribute to their CPF accounts, unless they choose to opt out.

What part of the hospital bill does MediShield cover?

The patient will have to first pay the deductible and co-insurance portions.  Medishield will then pay between 80% and 90% of th remaining claimable amount, depending on the size of the bill. The patient can use Medisave or cash to pay for the portion of the bill not covered by MediShield.The maximum entry age is at 75 years old, and the maximum coverage age is 85 years old.  The annual premium increases with age.

What is a deductible and co-insurance?
A deductible is the amount you would need to pay for claim(s) made in a policy year, before
there is a payout from MediShield. Co-insurance is the amount you need to co-pay after meeting the Deductible. Co-insurance is lower for larger claimable amounts, thus reducing the percentage share of payment by you for larger hospital bills. Co-insurance is three-tiered, ranging from 20% to 10% as the bill size increases. Please click here for more details.

To estimate the maximum amount that you can claim from Medisave or MediShield, click here to go to Medisave/MediShield Online Calculator.


You may also view general information on MediShield here.

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