Today, I would like to share about Medishield Life. Something that everyone have been paying for every year but are not aware of what it is.
Medishield Life is a government initiation to help Singaporeans and PR cope with rising medical bills.
I was sharing with my clients and friends about the limitation of Medishield Life, they were really taken aback by the limitations as they thought having Medishield Life was sufficient.
Ever since the enhancement of Medishield to Medishield Life, many are wondering if they should cancel the Integrated Private plan as they are afraid it will be a duplicate.
The enhancement of Medishield to Medishield Life commenced last year November 2015. Singaporeans or PR need not do anything for this upgrade to be done.
As shown by the above table, there are a lot of restrictions. As long as any part of the bill exceed the limit, cash or medisave will be required.
Do you have enough medisave to cover the hospitalisation bills and even chemotherapy?Even if you have, medisave usage has its limits too. Not all of the medisave can be used to pay for hospitalisation bills.
Will you rather pay a known amount to cover an unknown amount or to pay an unknown amount that can range from $10k to even $100k?
A question for you to think about today.
This upgrade is subjected to medical underwriting and declaration of any pre-existing conditons which means that not everyone is eligible for it.
If you are unsure if you have done the upgrade, do feel free to contact me at 81029976 so that I may assist you in this.