Should we cancel Integrated Shield plans because....

[herzog21]

we are going to be on the compulsory Medishield Life?
It makes no sense to continue having Integrated Shield plans since after 2019 we will pay alot more for the Medishield Life and we CANNOT opt out of that!

Any experts can share advice?

 

[The_Davis]

confirm compulsory or we just pay medishield + top up for extras?

 

[Lewis.T]

Hello guys, just want to say stick with your existing planning till medishield life is implemented, and then weigh for yourselves again if the changes in integrated shield vs medishield life warrants you dropping it (the integrated shield).

No point deciding now when we don't know the full details of changes to come.

 

[innumerabilis]

For now I'm holding on to my IP until the dust have settled. I would expect the various insurance companies to make changes to the intergrated plans in light of medishield life.

 

[Aerial86]

No premium increase for Integrated Shield Plan for 1 year

Please do not rush into decision to cancel. Wait for everything to be finalized first.. Anyway Medishield Life is only changes to B2 ward downwards so whoever wants to be covered for better wards will still need an Integrated Shield Plan.

 

[IronMac]

Yep, same here...going to stick with my current plan.

 

[Lewis.T]

Dr Khor, who is also MP for Hong Kah North, said: "Many of them don't know that Integrated Shield Plan actually comprises two components -- the MediShield portion and the top-up portion, which is by the private insurer.

“When MediShield Life comes into effect next year, it will automatically replace the MediShield portion of the IP plan.

“Of course, Integrated Shield Plan is a lot more expensive than MediShield simply because it provides enhanced coverage for higher ward classes. We want to assure the Integrated Shield Plan policyholders that they will not be disadvantaged with the implementation of MediShield Life.

"In fact, all Integrated Shield Plan policyholders are going to benefit from the implementation of MediShield Life because they will be covered for life ... and for all conditions, including the pre-existing (ones), even if they are excluded from the current IP plans."

Found this on CNA, might be good to read as well as understand the plan more too.

 

[Dividends Warrior]

Found this on CNA, might be good to read as well as understand the plan more too.

Thanks.

 

[peacefulday]

Channel News Asia wrote:

Dr Khor, who is also MP for Hong Kah North, said: "Many of them don't know that Integrated Shield Plan actually comprises two components -- the MediShield portion and the top-up portion, which is by the private insurer.
Most ISP insurer knew these when they top in la

“When MediShield Life comes into effect next year, it will automatically replace the MediShield portion of the IP plan.

“Of course, Integrated Shield Plan is a lot more expensive than MediShield simply because it provides enhanced coverage for higher ward classes. We want to assure the Integrated Shield Plan policyholders that they will not be disadvantaged with the implementation of MediShield Life.
Previously when we purchased Integrated Shield Plan is to enhance the coverage for Medishield, but now government come out these new version of Enhance Medishield into so-called Medishield Life, doesn't mean it is a duplicate of our initial intention?

"In fact, all Integrated Shield Plan policyholders are going to benefit from the implementation of MediShield Life because they will be covered for life ... and for all conditions, including the pre-existing (ones), even if they are excluded from the current IP plans."
I can see the only benefit from MediShield Life is if one have pre-existing illness? Those who still enjoying pink of health doesn't gain much in fact they are doing duplicate insured, especially for those insured with Integrated Shield Plan B?

Found this on CNA, might be good to read as well as understand the plan more too.

the above in reds are all my doubts, any expert can explain??? Anyway just stay foot at the moment and see thing how it go ~ if it's duplicate, I will quit the ISP

I wonder why Integrated Shield Plan agent started to calm people down that they will not increase the ISP premium??? To be frank, they should reduce it indeed?!!!

 

[Lewis.T]

Not sure if you'll consider me an expert, but this is what I experience on the ground.

Most ISP insurer knew these when they top in la

On the contrary, most people actually don't know about this. Some of them don't even know there's such a thing called integrated shield, and as such, lambaste our minister for having $8 heart bypass.

Previously when we purchased Integrated Shield Plan is to enhance the coverage for Medishield, but now government come out these new version of Enhance Medishield into so-called Medishield Life, doesn't mean it is a duplicate of our initial intention?

It is not a duplication, they work hand in hand to give you the full coverage. Example, your hospital bills are settled by your private insurer, but they will also automatically claim from any claimable amount through medishield before paying the rest of the bill.

Which from what I understand of your post, you do understand this part so I don't know why there's a confusion here. If anything, you should be questioning the government why is Medishield Life so expensive.

I can see the only benefit from MediShield Life is if one have pre-existing illness? Those who still enjoying pink of health doesn't gain much in fact they are doing duplicate insured, especially for those insured with Integrated Shield Plan B?

Some people, maybe not yourself, have exclusions on their integrated shield. This would help give them more benefits.

 

[peacefulday]

Not sure if you'll consider me an expert, but this is what I experience on the ground.


On the contrary, most people actually don't know about this. Some of them don't even know there's such a thing called integrated shield, and as such, lambaste our minister for having $8 heart bypass.


It is not a duplication, they work hand in hand to give you the full coverage. Example, your hospital bills are settled by your private insurer, but they will also automatically claim from any claimable amount through medishield before paying the rest of the bill.

Which from what I understand of your post, you do understand this part so I don't know why there's a confusion here. If anything, you should be questioning the government why is Medishield Life so expensive.


Some people, maybe not yourself, have exclusions on their integrated shield. This would help give them more benefits.

Thanks for explaining ...

I realized that we should not put an argument of whether is it a duplicate of insured or not when the Medishield Life launch next year, as usual there is always a more Pro words from the government then the Con. But the fact is that the Integrated Shield holders are likely being paid with a duplicate or lapse premium on these implementation. The winner will be still these SHIELDs companies...

Ya... should ask Government why Medishield Life so exp ah? Our health care also being controlled or take care