FAQs

1) Why do we need health insurance in the first place?
Health insurance is about taking care of yourself and your loved ones in the event of hospitalisation. When you have health insurance, you reduce the strain of an illness or accident. The triggered payout reduces or removes the stress of hospital bills. Both you and your family can then focus on treatment, recovery, and managing the emotional strain.

2) How do I know what kind of health insurance to buy and what's the right plan for me?
The right health insurance policy is one that fits your needs and budget. For example, a policy that covers Class A wards and private hospitals may not be right if you are comfortable with a Class C ward.
 
Apart from the annual premiums, you should factor in the "lifetime cost" of a policy – the cost of the premiums over your lifetime. Some policies start with cheap premiums, which inflate as the years go by, while other policies have a more stable premium rate. The latter, with a more expensive annual premium, may show a cheaper lifetime cost.

Lastly, look at the premiums for "riders", which cover policy deductibles and co-insurance. A comprehensive plan will spare you from shelling out a single cent when you are hospitalised. Of course, any benefit will come with a cost, and it is important not to be over-insured.

It is important to consult a professional Financial Consultant to tailor the right policy combination that is suitable to your budget.

To talk to a Financial Consultant, click here.

3) If I am a low-income earner or just working part-time, can I still get private health insurance?
Yes. Private health insurance plans that build on MediShield Life are known as Integrated Plans (IPs). There are different IPs to suit different budgets, and you can pay the premiums with your MediSave account, subject to certain limits. IPs increase your level of coverage from the minimum level that MediShield Life provides.

4) Since I already have MediShield Life, should I still get private insurance and why?
Yes.

You can use MediShield Life in both public and private hospitals, however, the claim limits are based on what you would be charged in a Class B2/C ward. You will have to pay the rest of your bill on your own, including deductibles and co-insurance.

Having a private insurance plan allows you to have the flexibility to opt for higher coverage, and riders that take care of the deductibles and co-insurance. The best way to assess the suitability of each private insurance plan is to ask these 5 questions:

• What type of hospital and ward would you prefer?
• Is the lifetime cost of the premiums affordable?
• Do you have, and does the plan cover, any pre-existing medical conditions?
• Does the plan offer ‘as-charged’ or ‘non as-charged’ benefits?
• Are there options if the current plan is unaffordable?

​These important options should define and make clear whether you need or should get a private insurance plan. As the answers to these questions vary from person to person, there is no one answer that will help everyone.

It is best to talk to a professional Financial Consultant to see the full picture.

To talk to a Financial Consultant, click here.

5) I want to find out more about MediShield Life for myself. Can I enquire through this website?
Yes.

Simply use our contact form to get in touch with a Financial Consultant. Click here to head to the contact form.

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