What is MediSave MediShield?
1. What is MediShield? MediShield is an affordable catastrophic medical insurance scheme which helps Medisave account holders and their dependents meet the cost of treatment for serious or prolonged illnesses at the Class B2 and C level.
What is Singapore MediFund?
MediFund is an endowment fund set up by the Government. It provides a safety net for patients who face financial difficulties with their remaining bills after receiving Government subsidies and drawing on other means of payment including MediShield Life, MediSave and cash.
What is the MediShield coverage?
What is MediShield Life? MediShield Life is a basic health insurance plan, administered by the Central Provident Fund (CPF) Board, which helps people pay for large hospital bills and selected costly outpatient treatments, such as dialysis and chemotherapy for cancer.
What are the three health insurance programs in Singapore run by the Monetary Authority?
MOH has appointed three private insurers, Aviva, Great Eastern and NTUC Income, to run ElderShield. Singapore citizens and PRs enrolled in Medisave are automatically covered under ElderShield at the age of 40. Eldershield requires level premium calculated based on the entry-age.
What is the difference between MediSave and Medifund?
Medisave can be used at public hospitals, Medisave-accredited private hospitals and outpatient clinics. Medifund is an endowment fund that works like a financial safety net to help needy Singaporeans who cannot afford hospital expenses despite Medisave and MediShield.
Is MediShield same as ElderShield?
Both Medishield Life and ElderShield are fully payable with Medisave and cash. IP: As the premium of Medishield Life increases with the age range, the premium of private medical insurance will also follow suit. There will be a cap of how much a policyholder can use their CPF Medisave account to pay for this policy.
What is the difference between MediSave and MediFund?
How do I check my MediShield coverage?
You can check the status of your MediShield Life claim via ‘My Activities’ after you log onto “my cpf Online Services” with your SingPass.
Is MediShield enough?
Due to things such as claim limits, deductibles and co-pay, MediShield Life alone is barely enough for the public hospital system, and definitely not enough for private hospitals – if the only preferred skilled doctor happens to be based at a private hospital.
Why is healthcare not free in Singapore?
Cost of healthcare in Singapore Unlike the healthcare system in many socialist nations, Singaporeans cannot walk into a clinic or hospital and receive treatment for free. Instead, Singapore imposes user fees for all healthcare services – a policy designed to reduce overuse of non-necessary medical services.
What is the MediSave/MediShield Life calculator?
The MediSave / MediShield Life Calculator helps you estimate how much you can withdraw from MediSave and / or claim from MediShield Life. Click for more information. This form may take 5 minutes to complete.
What is MediShield Life and how does it work?
MediShield Life is an insurance policy that is fully paid for from your MediSave account. MediShield Life provides some basic coverage when you have to be hospitalised, but does not cover non-medical charges such as ambulance fees as well as pre- and post- hospitalisation charges.
What is Medifund and how does it work?
MediFund is an endowment fund set up by the Government. It provides a safety net for patients who face financial difficulties with their remaining bills after receiving Government subsidies and drawing on other means of payment including MediShield Life, MediSave and cash.
Who is administering Eldershield?
The Ministry of Health (MOH) has appointed three private insurers to administer ElderShield: Aviva Ltd, Great Eastern Life Assurance Co Ltd, and NTUC Income Insurance Co-operative Ltd. More information will be made available to ElderShield policyholders by end-2021.