If you’re wondering if Medishield Life itself is sufficient for hospitalisation coverage and what is the best hospitalisation shield plan…
Hey Singapore Readers! Today, we’re going to dive into the non-cancer drug list (non-CDL) coverage of different Shield Plans. Whether you’re looking to switch to a new plan or just curious about the options available, this blog post will give you a clear comparison of different Shield Plan’s non-cancer drug list coverage. So, let’s get started!
Are you familiar with Integrated Shield Plans (IPs)? They’re pretty popular among us because they offer additional coverage on top of the basic MediShield Life (MSHL) plan provided by the government. IPs can cover a wide range of hospitalization expenses, including inpatient treatments, day surgeries, and selected outpatient treatments.
Effective 1 September 2022, MSHL will only cover treatments on the Cancer Drug List (CDL). This change is due to the rising costs of non-CDL treatments, which have resulted in higher premiums for IPs and MSHL.
There are some changes to the Outpatient Cancer Treatment benefit policy that you might be interested in. From 1 April 2023, two new benefits will replace the old policy. These benefits are the Cancer Drug Treatment benefit and the Cancer Drug Services benefit. Here’s what you need to know:
For most IPs, this change will take effect on 1st April 2023. If a cancer drug treatment is not listed or not administered exactly as described in the CDL, it will not be claimable.
This means that if you require coverage for non-CDL treatments, you may need to purchase an IP rider. An IP rider is an additional insurance policy that provides additional coverage for treatments not covered by MSHL or the IP basic plans.
For instance, some of the insurers’ coverage options include Enhanced Incomeshields with riders, Singlife Shield with riders, GE SupremeHealth with rider, Prushield with rider, AIA Healthshield Goldmax with rider, Raffles Shield with riders, and HSBC Life Shield with Enhanced Care Rider. The limits for these plans vary, ranging from $15,000 per month to $360,000 per year with varying co-payment percentages.
Here are some insurers’ IP rider coverage options for non-CDL treatments that can give you an idea of what to expect:
Enhanced IncomeShield is a popular IP provider in Singapore. They offer a high annual limit of $1.5 million. They offer two types of shield plan riders for non-cancer drug list coverage — Classic Care and Deluxe Care. Both provide a monthly benefit limit of $15,000 per month with no cap on the co-payment. However, the co-payment amount differs between the two riders: The Deluxe Care has a 10% co-payment while Classic Care has a 20% co-payment.
Singlife Shield (formerly known as Aviva MyShield) is another popular IP provider. They offer a basic plan that provides up to a $2 million policy year limit. If you require additional coverage for non-CDL treatments, you can purchase an IP rider that provides $30,000 per year coverage with a 5% co-payment amount.
GE SupremeHealth is another established IP provider in Singapore. They offer a high annual limit of $1.5 million. You can also purchase an IP rider for additional non-CDL coverage if required, which can provide $120,000 per year coverage with a 5% co-payment amount.
Prushield is an established IP provider in Singapore. Their basic plan offers a high annual limit of $1.2 million. Similar to the other insurers, they also provide IP riders for non-CDL treatments. If you require additional coverage for non-CDL treatments, you can purchase an IP rider that provides $150,000 per year coverage with a 5% co-payment amount.
AIA Healthshield Goldmax offers a yearly benefit limit of $2 million. Like the other insurers, they also offer IP riders for non-CDL treatments. If needed, you have the option to buy a shield plan rider for extra coverage, which can give you $50,000 per year of coverage with a co-payment amount of 10%.
Raffles Shield is a newer entrant in the IP market. Their basic plan offers a high annual limit of $1.5 million. They offer several shield plan riders for additional coverage for non-cancer drug list, including a Key Rider that provides $5,000 per year coverage, and a Premier Rider that provides $20,000 per year coverage, both with a 5% co-payment.
HSBC Life Shield is the latest IP provider in Singapore. Their basic plan offers a high annual limit of $2.5 million. They also offer an Enhanced Care Rider for additional coverage for non-cancer drug list, if required, offering a monthly benefit limit of $30,000 per month with a 5% co-payment amount.
When choosing an Integrated Shield Plan, it’s essential to look into the coverage for non-cancer drugs list. Keep in mind that different insurers have varying limits on outpatient non-CDL treatments, so it’s best to check with your insurer to understand their coverage and limits. You can find this information on their website, but do note that it can change anytime due to the dynamic nature of Integrated Shield Plans and MediShield Life coverage. Stay informed and make the best decision for you and your loved ones!
Singapore’s healthcare system has undergone significant changes in recent years, and it’s essential to stay up-to-date with your insurance coverage to make sure it’s aligned with your current healthcare needs and budget.
While these changes may seem overwhelming, they’ve been put in place to ensure that every Singaporean has access to essential healthcare treatments, especially for cancer. The government recognizes that cancer treatment can be expensive, and they’ve increased coverage for cancer treatments under MediShield Life and MediSave. This means that cancer patients can access more effective treatments at lower costs, including targeted and immunotherapy treatments.
However, not all cancer treatments are covered under the Cancer Drug List. That’s where IP riders come in. IP riders provide additional coverage for Non-CDL Treatment, which includes cancer treatments not listed in the Cancer Drug List, such as surgery, radiotherapy, and chemotherapy.
In Singapore, there are several options available for cancer insurance coverage. Here are some of the other options:
When choosing a cancer insurance plan, it is crucial to consider the policy’s terms and conditions, including coverage limits, waiting periods, and exclusions. It is also recommended to compare premiums and benefits across different plans to find the best option that suits your needs and budget.
It’s important to note that IP riders can vary in cost, so it’s crucial to find one that fits your budget and healthcare needs. Also, make sure you check the insurer’s limits and co-payment percentage before signing up for an IP rider to ensure you’re adequately covered.
The changes to healthcare insurance coverage may seem overwhelming, but they’re designed to ensure that everyone in Singapore can access essential healthcare treatments, especially for cancer. Stay informed and review your insurance coverage regularly to ensure it aligns with your healthcare needs and budget.
To wrap things up, starting from 1 April 2023, the Integrated Shield Plan (IPs) will be undergoing some changes that will impact your coverage. This means that your basic IP plan will now only cover treatments listed under the Cancer Drug List. So if you need Non-CDL Treatment, you might want to consider getting an IP rider.
Remember, it’s important to regularly review your insurance coverage to make sure it fits your healthcare needs and budget.