All You Need To Know Before Switching Your Integrated Shield Plan

This post was originally posted on Planner Bee.

Healthcare can be expensive, so planning for it is important. For many Singaporeans, having the right health insurance brings peace of mind.

The Integrated Shield Plan (IP) has been a popular way to boost the basic coverage provided by MediShield Life. While MediShield Life takes care of essential costs, an IP can offer access to higher-class wards, private hospitals, and enhanced coverage for a range of treatments.

But what if your current plan no longer meets your needs? Is switching providers a wise move? Before you decide, here’s everything you should know.

What is an Integrated Shield Plan?

An Integrated Shield Plan (IP) is a health insurance policy offered by private insurers. It builds on MediShield Life and gives you greater flexibility and access to a broader range of medical services.

You can pay for it using MediSave, or top up with cash if needed.

Depending on the plan and tier you choose, an IP can cover anything from Class B1 or A wards in public hospitals, private hospitals, and even pre- and post-hospitalisation treatments.

Why do people switch their IP?

There are several factors that can prompt consumers to consider changing their IP provider:

• Premium increases: As you grow older, your premiums may go up. Some find that their current plan becomes too expensive over time.
• Limited coverage: You may feel that your plan doesn’t cover certain treatments or that the panel of doctors is too restricted.
• Service issues: If you’ve had poor service, faced delays in claims, or had claims rejected, you might want to find a provider that’s easier to work with.
• Better options elsewhere: Other insurers may offer lower premiums, wider coverage, or better rider options than what you currently have.

Are there alternatives to switching? If switching seems too drastic, consider other options first. You could downgrade your plan to a more affordable tier. Or, take a look at the add-ons your insurer offers—you might be able to expand your coverage without changing providers.

Read more: Integrated Shield Plans’ (IPs) Coverage for Cancer Treatment Has Changed. Here’s What You Need To Know

What happens if you buy a new IP while already having one?

Your existing IP will automatically be terminated when your new IP commences. This helps make sure you don’t pay for two plans at once, since you can only claim from one IP at any time. Your existing insurer will refund any unused premium for the remaining cover period of the terminated IP.

However, before you buy a new IP, it’s important to check whether your new insurer will cover all your pre-existing conditions. While the MediShield Life component of your new IP will continue to cover you for life—including any pre-existing medical conditions—the private insurance part of your plan may not. Private insurers often exclude certain conditions or apply limits.

Here are some of the considerations you should look into before switching providers:

1. Health declaration and underwriting

When you apply for a new IP, you’ll need to complete a new health declaration.

If you’ve developed any new health issues since buying your current plan, the new insurer may exclude these conditions or charge you higher premiums.

Your current plan might still cover them, so switching could result in losing that protection.

2. Loss of continuity benefits

Some insurers offer benefits that build over time, such as shorter waiting periods for certain conditions or loyalty rewards.

If you switch, these benefits usually reset. You could lose out on protections you’ve already earned under your current plan.

3. Coverage gaps

There may be a gap between when your old plan ends and your new one begins, especially if your application takes longer due to medical checks.

During this time, you might not be covered. It’s important to plan carefully to avoid being uninsured.

4. Riders and add-ons

Riders help lower your out-of-pocket costs, but they don’t transfer between insurers.

A new provider might not offer the same riders, or they could include new exclusions, waiting periods, or higher costs—especially if you’re older or have health conditions.

Be sure to compare both the main plan and the available riders in detail.

Frequently asked questions about switching IP

If you’re thinking about switching your Integrated Shield Plan (IP), here are some common questions that can help you better understand the process.

Will there be a waiting period if I switch to a new insurer?

Yes, there usually is. The length of the waiting period depends on the insurer and the tier of coverage you choose. Some insurers, like Prudential, offer steps to make switching smoother.

Will my premiums be lower if I switch insurers?

Not always. Some insurers may have lower starting premiums, but it’s important to look at future premium increases and how the benefits compare. The Ministry of Health provides a table showing lifetime premiums for standard, Class B1, Class A, and private hospital IPs. It’s a good reference to see the bigger picture.

What if I switch and later regret it?

Once you switch, your old policy is cancelled and cannot be reinstated with the same terms. That’s why it’s important to be certain that the new plan is a better fit before making the change.

Is switching IP worth it?

Switching IP providers might offer better coverage and save you some money, but it is not a decision to take lightly. You could lose coverage for existing conditions, including ones you might not know about. These risks can sometimes outweigh the savings.

Instead of switching, speak with your insurance agent. They may be able to suggest riders or add-ons that improve your current plan. Downgrading to a lower tier is another way to manage costs without losing your existing coverage history.

Your healthcare coverage is an important part of your financial plan. Having a policy that fits your needs can give you peace of mind when life takes an unexpected turn. Take the time to understand your options and speak to a professional before making any changes.

Read more: Five Cash-Free Insurance Plans You Can Get in Singapore