No one should have to worry about their health, but with the cost of medical care on the rise, it's hard not to think about how you will pay for an unexpected bill. That's why so many people are turning to integrated shield health insurance plans to help them protect their health and finances. But with so many options available, it can be hard to choose the right health insurance plan. You may have heard of integrated shield health insurance plans and are wondering if they are right for you. These plans offer a comprehensive level of coverage and can be a great choice for families and individuals who want to be sure their health care needs are covered. However, there are a few things you need to know before choosing an integrated shield plan. This guide will help you understand what an integrated shield health insurance plan is and how to choose the right plan for your needs.
What Is An Integrated Shield Plan?
Integrated Shield plans (IPs) are private health insurance policies that individuals can opt for on top of MediShield Life, the foundational health insurance that is provided for all Singaporeans and PRs. IPs are popular because they help to cover costs that MediShield Life does not. For example, MediShield Life only provides sufficient coverage for B2/C wards at public hospitals, but with an IP you can be covered all the way up till a B1 or A ward, or even private hospitals. Additionally, while MediShield Life covers hospitalisation and surgeries, it does not cover pre- and post-hospitalisation costs. But IPs can fill in that gap. Furthermore, even though IPs are provided by private insurers, you can use Medisave to pay for them (up to annual withdrawal limits).
Where Can I Get An Integrated Shield Plan?
These are the health insurance insurers that offer Integrated Shield plans:
- AIA
- Singlife
- AXA
- Great Eastern
- NTUC Income
- Prudential
- Raffles Health Insurance
Each provider has a range of several IPs with coverage till differing hospital tiers. To make things easier in your decision-making process, start by determining the level of coverage that works for you.
The Best Integrated Shield Plan For Public Hospitals (B1 Ward)
Of the various health insurance plans available, the most affordable B1 ward Integrated Shield plans can be a good option for filling in the gaps that MediShield Life does not provide. If you are younger and in the pink of health, this tier of coverage may be sufficient for you. Among the various plans available, Great Eastern Supreme Health B Plus stands out as it has the highest annual claim limit even though its premium is among the lowest. The length for pre- and post-hospitalisation coverage is also good. While other insurers cap the post-hospitalisation claims in 90 or 100 days, Great Eastern covers you for up to the whole year. This can be a valuable safety net in case of an unexpected illness or injury.
The Best Integrated Shield Plan For Public Hospitals (A Ward)
Integrated Shield plans are a popular choice among Singaporeans who want a more comfortable hospital stay without breaking the bank. This tier of coverage usually covers an A ward in a public hospital, which is a step up from the B2 and B1 wards covered by some of the cheaper health insurance plans. While these plans are more expensive than the basic plans, they are still very affordable and offer good value for money. The Prudential PRUShield Plus plan is a great example of a mid-range Integrated Shield plan that offers excellent coverage at a very reasonable price. If you're looking for this level of coverage or for an affordable way to upgrade your hospital ward coverage, it's definitely worth considering.
The Best Integrated Shield Plan For Private Hospitals
It is no secret that healthcare in Singapore is expensive. If you are looking for a way to afford a wider range of medical specialists and enjoy your stay in comfort, private hospital health insurance plans may be the way to go. Many purchase these plans at a younger age, as the premiums are comparatively cheaper then. When premiums increase due to getting older, you can easily opt for a lower-tier plan. In contrast, it is harder to move up from a lower-tier plan to a higher one due to medical underwriting requirements. However, if you are looking for a high-quality, affordable private hospital plan, the AXA Shield Plan A is one of the most affordable private hospital IPs you can get. AXA Shield policyholders also get access to AXA’s General Practitioner and Specialist panels for affordable healthcare rates: from $10 per visit to GPs on the panel, and $100 for the first visit to specialists. With these great benefits, the AXA Shield Plan A is an excellent choice for those looking for quality, affordable private healthcare.
Purchase From An Reputable Health Insurance Provider
When it comes time to choose an integrated shield health insurance plan, you want to make sure that you are getting the best possible deal. MoneySmart provides a platform for consumers to compare different plans and purchase from reputable insurers. We recommend that you take advantage of this service so that you can be confident in your decision and know that you are getting the best possible coverage for your needs.