Patients who choose to stay in other class wards (ie. A/B1), or in private hospitals can still use Medishield Life, just that the payout benefits are pegged based on the costs calculated by B2/C class wards.

What is the difference between Medishield Life and Medishield?

Medishield Life pays more, patient pays less

Medishield Life replaced Medishield in end 2015 to provide lifelong medical insurance coverage for all Singapore Citizens and PRs including those who already have a pre-existing condition.

Medishield-Life has enhanced benefits as compared to Medishield with 1) increased maximum claim limit, as well as 2) reduced co-insurance. MediShield Life’s co-insurance rates are reduced to 3-10% as compared to 10-20% of Medishield.

With higher claim limit and reduced co-insurance, Medishield can now pay for a larger portion of the hospital bills, and patients can use less Medisave/ cash to pay for their hospital bills.

To understand more about the differences between Medishield-Life and Medisave, read more about it here.

Medishield Life Premiums & Subsidies 

An insurance premium is the amount of money that an individual must pay for an insurance policy. According to the Ministry of Health, MediShield Life premiums are risk-pooled to support the payouts and benefits under MediShield-Life. Patients with serious pre-existing conditions like cancer will have to pay additional premiums for 10 years to reflect their higher risks.

However, the government provides extensive support to help keep premiums affordable.

• For patients with serious pre-existing conditions, they only need to pay 30% of their additional premiums for 10 years, after which they will be paying the standard premium costs.
• Premium Subsidies for the lower- to middle-income;
• Pioneer Generation Subsidies for Pioneers;
• Transitional Subsidies to ease the shift to MediShield-Life for Singapore Citizens; and
• Additional Premium Support for those who are unable to afford their premiums even after premium subsidies.

Medishield-Life premiums are payable by Medisave.

Read related article: Essential Medisave facts every Singaporean should know.

Read related article: What is the difference between Medisave and Medishield Life?

About Jaga-Me

Jaga-Me is a home care service platform that brings nursing care and caregiving services to your doorstep, allowing your loved ones to recover at home. If you have a family member that is just discharged from the hospital and in need of a professionally trained caregiver/ nurse, or you require respite care, please do not hesitate to call us at 8498 4598, find us at our website here, or at our Facebook page here.

Award winning Home Care trusted by health professionals – Jaga-Me

Difference between Medisave and Medishield life

Medisave is a personal savings account for all Singaporeans to help tackle heavy medical expenses should the need arise in the future. The Medisave account is part of the 3 accounts under our Central Provident Fund (CPF) and is contributed by a withdrawal of a part of our monthly income. More information about Medisave contributions and when we can use Medisave can be found here.

MediShield Life, on the other hand, is a low-cost medical insurance initiative to help Singaporeans pay for larger B2/C class wards hospitalisation bills. MediShield Life replaced MediShield at the end of 2015 to provide lifelong protection for all Singaporeans against large hospitalisation bills. For more information about MediShield Life and premiums and subsidies, read more here.

Medisave and Medishield Life can be used together to pay hospitalisation bills, The difference is that Medishield life is designed to help pay larger B2/C hospitalisation bills, while Medisave for smaller ones. Of course, you still can reap the benefits of Medishield life whichever ward class (A/B1) you choose to stay in, or in a private hospital. The benefits are just pegged based on the costs of class B2/C wards.

Medisave has also been expanded for more outpatient uses such as long-term treatment for chronic illnesses ie. cancer treatment, and preventive health measures such as health screenings and newborn vaccinations.

The needs for outpatient treatments are greater in old age when one is more likely to have more health problems, and incur higher medical expenses, especially towards the end of life. This is why there are withdrawal limits for Medisave so that you have enough Medisave for your lifelong needs. Hence, we have to use our Medisave wisely to ensure enough to pay for Medishield Life premiums and higher medical expenses in the future.

Through Medisave and Medishield Life, Singapore’s government ensures affordable, dependable and accessible healthcare for the masses.

Related article: Everything you need to know about Medishield Life

Related article: Essential Medisave facts every Singaporean should know

About Jaga-Me

Jaga-Me is a home care service platform that brings nursing care and caregiving services to your doorstep, allowing your loved ones to recover at home. If you have a family member that is just discharged from the hospital and in need of a professionally trained caregiver/ nurse, or you require respite care, please do not hesitate to call us at 6717 3737, find us at our website, or find us at our Facebook page here.

Award winning Home Care trusted by health professionals – Jaga-Me