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Healthcare Financing
Medishield
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Apart from the MediShield scheme, which the Central Provident Fund Board runs, you can also choose from amongst other Medisave-approved Integrated Shield plans offered by private insurers.
Since 1 July 2005, each of these Medisave-approved plans have been integrated with MediShield to form a single integrated plan. These Integrated Shield Plans provide you with additional benefits and coverage when you opt for Class A and B1 wards in the restructured hospitals, or private hospitalisation.
Policyholders on the Medisave-approved Integrated Shield plans retain the benefits of MediShield membership, while their private insurer will service all their needs. In other words, policyholders pay their premium, and submit claims directly to their private insurer. Their private insurer will then sort out all arrangements with MediShield.
Medisave can also be used to pay for premiums of these private Medisave-approved Integrated Shield plans, subject to a withdrawal limit of $800 per policy, per year. For policyholders aged 81 and above, the withdrawal limit is $1,150 per policy, per year.
Medisave-approved Integrated Shield plans include:
- NTUC Income's IncomeShield and Enhanced IncomeShield
- American International Assurance International Co's HealthShield Gold
- Great Eastern Life Assurance Co's SupremeHealth and SupremeHealth Plus
- Aviva Ltd's MyShield
- Prudential Assurance Co's PRUShield
If you had a Medisave-approved plan with a private insurer before 1 July 2005, you will be transited to the new Medisave-approved Integrated Shield plans over a 2 year period by your private insurer. After the 2-year transition period is over, Medisave cannot be used to pay for the premiums of the old plans as they are not integrated with MediShield.
(I) Claims return rate
The following claims return rate table shows how long it takes each insurer to process claims with positive payouts.
The phrase, cumulative claims return rate, refers to the percentage of claims processed by the insurer within one week, two weeks and one month. Note that the fifth column shows the median number of days it takes each insurer to process claims.
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66% | 73% | 78% | 4 | 85% | 86% | 90% | 1 | 92% | 94% | 96% | 1 | 93% | 95% | 96% | 1 | 84% | 89% | 93% | 1 | | |
(1 April 2010 – 30 June 2010)
(II) Letter of guarantee and medical records costs
When you are hospitalised, if your hospital can obtain a letter of guarantee from your insurer, you can reduce the amount of your upfront payment to the hospital. A letter of guarantee is an assurance of payment offered by insurers to hospitals, on behalf of a patient, for the portion of the hospital bill covered by insurance.
To process claims, insurers may require your medical records. Either you as a claimant, or your insurer, can request medical records from medical institutions. This request however, usually comes at a cost from $75 to $250. The following table shows how some insurers require you to pay for medical records, while others themselves absorb the cost.
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No | No | Provided to selected Restructed Hospitals and Institutions* | Yes | No | Yes | Provided to Restructured Hospitals and Institutions | Yes | No | Yes | | *The restructured hospitals are AH, CGH, NUH, SGH and TTSH. Please check with the insurer for more information. |
(As of December 2008)
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