Organization : Central Provident Fund Board
Scheme Name : Private Medical Insurance Scheme
Country: Singapore
Website : https://www.cpf.gov.sg/member
Private Medical Insurance Scheme :
The Private Medical Insurance Scheme (PMIS) allows CPF members to use their Medisave savings to buy Integrated Shield Plans (IPs) for yourselves and your family members including your parents, spouse, children and grandparents.
Related : CPF Central Provident Board Fund Public Housing Scheme Singapore : www.statusin.org/11116.html
Integrated Shield Plans comprise two parts, a MediShield portion run by the Central Provident Fund (CPF) Board, and additional benefits offered by private insurers.
From 1 November 2015, when MediShield Life replaces MediShield, the MediShield Life portion will also replace the current MediShield portion in IPs. The MediShield Life portion of your IP will cover you for life, including your pre-existing conditions. This is the case even if your pre-existing conditions are not covered under the additional coverage from your private insurer.
What is an Integrated Shield Plan?:
An Integrated Shield Plan (IP) is a medical insurance plan which offers additional benefits on top of that provided by MediShield. Members who buy such integrated plan will also be covered under MediShield, subject to eligibility conditions such as age and citizenship status.
The MediShield portion of your IP will be replaced by MediShield Life from 1 November 2015. Under MediShield Life, all Singapore Citizens and Permanent Residents, regardless of age, will continue to be covered by MediShield Life.
Even though the IP is jointly insured by the private insurer and the CPF Board, you only need to approach the private insurer as the single point of contact on matters relating to any claims.?
Who should buy an Integrated Shield Plan and how can I buy one?:
If you want to have additional insurance protection on top of what MediShield provides, such as coverage for your stay in Class A / B1 and private wards, you can consider buying an Integrated Shield Plan.
You can buy one of these plans from the following participating private insurers:
** American International Assurance
** Aviva
** Great Eastern Life
** NTUC Income
** Prudential Assurance
Evaluate:
What are the differences among the Integrated Shield Plans?:
You can refer to the comparison table of the benefits of Integrated Shield Plans.
Please contact the participating private insurers directly if you want more details on the various Integrated Shield Plans they offer.
Can I use my Medisave to buy more than one Integrated Shield Plan for myself?:
No. You can buy only one Integrated Shield Plan for yourself at any point in time using your Medisave. This is because the plans provide generally similar coverage, and it is not advisable to duplicate your cover with more than one plan. You can however use your Medisave to pay for your family members’ MediShield (which will be replaced by MediShield Life from 1 November 2015) or IPs.?
What happens to my existing Integrated Shield Plan when I apply for a new Integrated Shield Plan?:
When you apply for a new Integrated Shield Plan, your existing Integrated Shield plan will be terminated upon successful commencement of your new plan. This is because a person can only be insured under one Integrated Shield plan paid using Medisave. Any unused premium, if any, for the remaining period in the current policy year of the existing cover will be refunded to the payer’s Medisave Account.
When you buy an Integrated Shield Plan, it will be integrated with MediShield which will be replaced by MediShield Life from 1 November 2015. You will continue to enjoy the benefits of MediShield Life as long as you are a Singapore Citizen or Permanent Resident.
It is therefore important for you to discuss carefully with your financial advisor and to understand the implications before you switch to a new IP plan. The portion offered by your new insurer may not cover you for pre-existing conditions, which may be covered under your old plan that was purchased before the medical condition was developed. However, the MediShield Life portion of your new IP plan will continue to cover you for life, including for pre-existing conditions.?
What will happen to my MediShield cover when I buy an Integrated Shield Plan? Can I subsequently downgrade to MediShield again?:
Integrated Shield Plans (IPs) comprise two parts – a MediShield portion and a top-up portion. This means that you are covered by MediShield even if you have an IP.
When MediShield Life is launched, it will replace the MediShield portion of your IP. You will automatically be covered by MediShield Life; no action will be needed on your part.
The MediShield Life portion of your IP will also cover you for life, including your pre-existing conditions. This is the case even if your pre-existing conditions are not covered under the additional coverage from your private insurer.
If you currently have an IP but have decided that you may not need it, you may downgrade to MediShield (or MediShield Life) again at any time. Your MediShield (or MediShield Life) cover will not be subject to further assessment for pre-existing health conditions and will not have additional exclusions imposed.
You can read more about how MediShield Life interacts with Integrated Shield Plan at www.medishieldlife.sg
Do I have to pay Additional Premiums for pre-existing conditions even if I have bought an Integrated Shield Plan?:
When you buy an Integrated Shield Plan, you will also be covered under MediShield, which will be replaced by MediShield Life, as long as you are a Singapore Citizen or Permanent Resident.
The MediShield Life portion of your IP will cover you for life, including your pre-existing conditions. This is the case even if your pre-existing conditions are not covered under the additional coverage from your private insurer. However, depending on the severity of your condition, you may be required to pay an Additional Premium of 30% for the MediShield Life portion of your IP, for a period of 10 years.
Does MediShield Life duplicate the coverage I have under my Integrated Shield Plan?:
There is no duplicate coverage.
Integrated Shield Plans (IPs) already comprise two parts – the MediShield portion and a top-up portion. Those covered under IPs currently enjoy the combined benefits of MediShield, which is run by the CPF Board, and the additional benefits offered by private insurers.
When implemented, MediShield Life will automatically replace the current MediShield Life portion of your IP will cover you for life, including your pre-existing conditions. This is the case even if your pre-existing conditions are not covered under the additional coverage from your private insurer.