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MediShield Life vs Integrated Plan (IP)
MediShild Life is expected to be launched in Dec 2015
Since MediShield in compulsory for Singapore Citizens and Singapore PR, should I terminate my Integrated Shield Plan I purchased with Private Insurers?
We are talking about 2 different level of coverage even though they may be s similar type of policies
ISP is covering Private hospital, A1 wards and B1 wards. Whereas, MediShield and MediShield covering only the heavily government subsidized (up to 80%) B2 and C wards.
Hence, if you have decided in advance to be warded into Private hospital, A1 or B1 ward should you be hospitalized, then you should not terminate your Integrated Plan and just take up MediShield Life.
As per the diagram above, I trust that it explained that MediShield Life will be embedded into the ISP. Hence, if you want a better coverage, you should stake to your ISP. The premium you paid to the Private insurer to purchase the ISP, partially will go to CPF board who managed MediShield Life and partially will go to Private insurers who managed the ISP.
If you have any question, please feel free to drop me a question in the comment box I will answer your question to help you to understand about MediShield Life and Integrated Plan (IP)
Other related post or readings
MediShield Life vs Integrated Shield Plan (ISP)
Comparison of MediShield and Private Integrated Plan
MediShield vs MediShield Life
What does Integrated Shield Plans means?
Eight part series of Medishield Life - Uderstanding MediShield Life
Comparisons of CPF approved Shield Plans on Premium and Coverage offered by different insurers
Comparison of Premium at a glance - CPF approved Shield Plans
Terminating or canceling your Integrated Plan (IP)?
Selecting a Shield Plan is a wise choice if you want complete protection. I can speak from personal experience when I say that having a strong shield strategy in place offers financial stability and peace of mind in the event of unforeseen circumstances.
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