CPFB | Consider whether you need supplementary coverage for healthcare

Healthcare financing

Consider whether you need supplementary coverage for healthcare

Before you buy any Integrated Shield Plan (IP), CareShield Life (CSHL) and ElderShield (ESH) supplements, do consider carefully if you can afford the higher premiums as you grow older.

Updates on 20 Apr 2021

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IP
CSHL/ESH supplements
Resources
FAQs
Articles

Integrated Shield Plan (IP)

An Integrated Shield Plan (IP) combines MediShield Life with an additional private insurance coverage component provided by a private insurer.

Do you need supplementary coverage?

Things to consider

You do not need an IP if you prefer Class B2 and C ward in public hospitals which provide heavy subsidies of up to 80% for Singaporeans.

Two-third of patients who are hospitalised opt for Class B2 and C wards (six to 10 bedders) in public hospitals. MediShield Life provides sufficient coverage for your large Class B2 and C bills.

If you prefer Class A and B1 wards (one to four bedders) in public hospitals or private hospitals, or to choose your own doctors, IP can offer supplementary coverage. Choose a plan which you can afford and meet your needs.

Can you afford IP premiums in the long run, as premiums rise substantially with age?

Your private medical insurance premiums could be up to five times of your MediShield Life premiums when you are in your 70s or 80s.

You’ll need to ensure that you can afford the higher premiums especially at older ages when you have stopped working.

MediShield Life can cover your healthcare needs. Can you afford to pay cash for IP premiums which exceed the Additional Withdrawal Limits (AWLs)?

MediShield Life premiums can be fully paid with MediSave. You can only use MediSave up to the AWLs to pay for the IP premiums. Premiums above the AWLs will have to be paid in cash.

You’ll need to consider if you can afford to top up the differences in cash, especially at older ages when you have stopped working.

IP vs MediShield Life

Do you need an Integrated Shield Plan (IP)?

Choose the plan that best meets your needs and fits your budget.

(PDF, 0.70MB)

Comparisons of healthcare insurance plans

When deciding on a health insurance coverage, make sure you understand the differences in coverage, premiums, and claim limits.

CSHL/ESH supplements

CareShield Life and ElderShield plans

Supplements complement your basic plan with additional benefits, such as higher monthly payouts.

How CareShield Life/ElderShield supplement work

If you can afford higher premiums, you can buy Supplement plans through one of three approved private insurers. Click on the link below to explore what benefits, premiums and claims each insurer has to offer.

Find out more

Things to think about

Can you afford higher supplement premiums in the long run?

As paying for a Supplement plan is a long-term commitment, you’ll need to ensure that you can afford to pay for the higher premiums in the long run, especially at older ages when you have stopped working.

Do you need to enhance your existing coverage?

If you need supplementary coverage or benefits on top of your existing coverage, you may consider purchasing a Supplement plan.

You may discuss with your financial advisor on your healthcare and financial planning.

Who is eligible to purchase Supplements?

Supplements can only be bought by existing CareShield Life or ElderShield policyholders.