MediShield Life has deductible and co-insurance
features. The deductible is the fixed amount you need to pay first in each
policy year before any payout from MediShield Life. The deductible paid can be
accumulated if there is more than one claim in the policy year. The deductible
ranges from $1,500 to $3,000 of the claimable amount depending on age and ward
type. Thereafter, you will need to co-pay a portion of the claimable amount,
known as the co-insurance. Co-insurance is three-tiered, ranging from 3% to 10%
as the bill size increases. The deductible and co-insurance, as well as the
bill above the claim limits, may be paid by MediSave and/or cash.
Together, the deductible, co-insurance, and claim limits manage the sustainability of the scheme by focusing MediShield Life coverage on larger medical bills, where protection is the most critical.
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