Best Health Insurance

Best Health Insurance Integrated Shield Plan in Singapore 2021

If you're looking for health insurance integrated shield plans, there are a total of 7 insurance providers and plans to choose from:

1. AIA HealthShield GoldMax

2. Aviva MyShield

3. AXA Shield

4. Great Eastern GREAT SupremeHealth

5. NTUC Enhanced IncomeShield

6. Prudential PRUShield

7. Raffles Shield

Choosing the best health insurance is not as simple as it looks.

Premiums differ depending on your age, and coverage will differ from provider to provider.

But most importantly, how much out-of-pocket expenses will we have to fork out when sh*t hits the fan?

Before we dive into the world of integrated shield plans, here's what you need to know about health insurance.

What You Need To Know About Health Insurance in Singapore

Singaporeans and PRs are covered by a basic health insurance called MediShield Life.

MediShield Life is a basic health insurance plan that is administered by the Central Provident Fund (CPF) Board to help Singaporeans offset some of their hospitalisation costs and even certain medical or surgery treatments such as chemotherapy for cancer and dialysis.

That being said, Singaporeans can receive further coverage by getting an Integrated Shield Plan (IP), which complements and adds more medical coverage on top of MediShield Life. Basically, an Integrated Shield Plan can help you get treatment at better class hospital wards or even, treatment at private hospitals if that's what you really need.

FYI: from 1 April 2019, all Integrated Shield Plans (IPs) offered by insurance providers will have a co-payment element one where the insured would have to pay at least 5% of his or her bill while the insurer pays the rest. This is unlike the previously offered full riders that was offered in the past, with insurers footing 100% of the medical bill!

Ah... the good ol' times.

What is An Integrated Shield Plan (IP)?

An Integrated Shield plan (IP) is an optional health insurance plan, collaboratively insured by the CPF board and the private insurer of your choice. It provides additional coverage on top of the basic medical coverage which is provided by MediShield Life.

IPs are a by-product of Singapore’s two-tier healthcare system where governmental regulations and private insurance companies play their parts collectively to provide affordable universal coverage for all Singapore residents.

How Does An Integrated Shield Plan (IP) Work?

An integrated shield plan consists of 2 components:

1. MediShield Life

2. Additional private insurance coverage component by a private insurer of your choice

Together, your IP helps cover the costs incurred for hospitalisation and surgical procedures. 

Source: Ministry of Health Singapore

MediShield Life

MediShield Life is a basic public health insurance scheme for Singapore residents', providing the first level of basic health care coverage.

Every citizen and permanent resident, across all ages and health profile, is automatically covered under MediShield Life, with no application required. Managed by the CPF Board, the premium for MediShield Life will be paid by your MediSave.

Additionally, lower-income families and Pioneer Generation individuals are eligible for government subsidies to their MediShield Life Premium.

What does MediShield Life Cover?

• up to S$100,000 in policy limit
• B2/C-type wards in public hospitals only
• Selected Inpatient Treatment i.e. Day Surgery, Radio Surgery
• Selected Outpatient Treatments i.e. Chemotherapy, Radiotherapy, Kidney Dialysis and Long-Term Parenternal Nutrition with limits for each different treatment
• Staying in a A/B1-type ward or in a private hospital will be pro-rated. Meaning, your MediShield Life payout will only cover only a small proportion of the bill. The rest needs to be topped up either by cash or your MediSave account.
• The full list of MediShield Life Coverage and its benefit parameters:

(Source: Ministry of Health Singapore)

What Does An Integrated Shield Plan (IP) Cover?

There are 4 tiers of Integrated Shield Plans:

• Standard Integrated Shield Plan
• Class B1 Plans
• Class A Plans
• Private Hospital Plans

Standard Integrated Shield Plans (IP)

The most basic tier of is a private insurance product, targeted at covering large hospital bills and selected costly outpatient treatments. These are the full benefits and coverage parameters for all Standard IPs:

Standard IP costs more but also covers more than MediShield Life.

It usually covers up to Class B1 wards of public hospitals, and for most plans would have a policy limit of $150,000.

The coverage of the Standard IP is regulated by the government and is identical across all insurers. While the benefits for Standard IP are the same, private insurers are free to price their Standard plans as they like.

Cheapest Standard Integrated Shield Plans in Singapore 2021

Across 7 plans, and within 3 age groups, we have whittled down which are the Cheapest Standard Shield Plans.

Other Standard Integrated Shield Plans available:

1. AIA HealthShield Gold Max Standard
2. AVIVA MyShield Standard
3. AXA Shield Standard
4. Prudential PRUShield Standard

Integrated Shield Plan vs MediShield Life: How is an IP different from MediShield Life?

Basically, an IP is named so because of its integration of MediShield Life - a public and government initiative, together with private insurance. MediShield Life is made compulsory by the government, whereas the extra coverage private insurance portion is optional.

With the private insurance, at a higher premium, you get higher coverage through higher claim limits, and better pro-rates if you choose higher ward classes. An example would be the policy yearly limit: for MediShield Life you get $100,000 whereas the limit for Standard IPs is $150,000, and even higher for the higher tiers of IP. You can also stand to get Medical coverage outside of Singapore.

Class B1, Class A, and Private Hospital Shield Plans

For those who prefer and can afford to stay at wards class B1 and above, opting for tiers higher than Standard IP might be better.

Note that while Standard IP and Class B1 Plans both entitle you to the same class of ward, the coverage amount and limits are different:

• Ward Entitlement: Class B1 and above, according to your chosen plan
• Policy Yearly Limit: at least $250,000 (vs Standard IP: $150,000)
• Inpatient and Day Surgery: mostly as charged
• Other Benefits that Standard IP does not have:
  - Pre- and Post-hospitalisation Benefits
  - Emergency Overseas Medical Treatment
  - Congenital Abnormalities

How much is Integrated Shield Plan Health Insurance in Singapore?

How much does IP private health insurance cost? Let's break it down into 3 age groups: 25, 35 and 45 year olds. *Ages referred to are age next birthday

Cheapest Integrated Shield Plans For Private Hospitals:

Based on the premiums in the table above, we have compiled the most value for money plans according to their ward classes

• Raffles Shield Plan A* + Rider option
  * (for Raffles Shield, purchasing a rider on top of your Class A ward plan upgrades your ward entitlement to Private Hospital wards at Raffles Hospitals, while maintaining the policy amount limits of a Class A ward plan. This plan should not to be confused with Raffles Shield Private plan, which is a plan directly for Private Hospital wards, with larger coverage.)
• AXA Shield Plan A
• AIA HealthShield Gold Max A
• Great Eastern GREAT SupremeHealth P Plus

Cheapest Integrated Shield Plans For Class A Wards:

• Prudential PRUShield Plus
• NTUC Income Enhanced IncomeShield Advantage
• Great Eastern GREAT SupremeHealth A Plus

Best Integrated shield plan comparison 2020

Paying for your Health Insurance / Integrated Shield Plan

The MediShield Life component of your Integrated Shield Plan is fully payable by MediSave.

The additional private insurance component is also payable by MediSave, but only up to the following Additional Withdrawal Limits:

• $300 per year for those at age 40 years and below on their next birthday
• $600 per year for those at age 41 to 70 years on their next birthday
• $900 per year for those at age 71 years and above on their next birthday

Any excess would need to be paid in cash.

Pre-existing Medical Conditions and Exclusions

It is important to declare your pre-existing medical condition before taking up any health insurance. Any known pre-existing conditions you have prior to starting your policy will not be covered by your health insurance

Generally, the list of exclusions are:

1. Mental Illness (unless it falls under the Inpatient Psychiatric Treatment benefits of your plan)
2. Pregnancy and Childbirth complications
3. Treatment of Sexually Transmitted Diseases
4. Self-Inflicted injuries
5. Treatment from injuries caused directly or indirectly by alcohol or drug misuse
6. Cosmetic or plastic surgery
7. Dental Treatments (except accidental inpatient dental treatments)

Do I Still Need To Get My Own Health Insurance if I Am Covered Under My Corporate Medical Health Insurance?

Most corporate medical plans cover you for less, meaning you will pay more out-of-pocket if you have a high medical bill from getting sick or injured. You should do your research and find out what you are covered for by your work plan, and then it’s up to you if you want to take out your own healthcare plan too.

Tools To Help You Choose the Best Health Insurance in Singapore

To help Singaporeans make smarter personal finance decision, here are some tools to help you:

You can read up our articles on health insurance:

• Health Insurance for Expats in Singapore Made Easy
• Singaporean’s Ultimate Integrated Shield Plan Comparison, Am I on The Best Plan?

If there are still questions after reading the reviews left by real users, you can always head over to Seedly to ask the friendly Seedly community!

Contact us at [email protected] should you require any assistance or spot any inaccuracies.