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Thursday, October 15, 2015

Medishield Life vs Integrated Shield Plans


With the implementation of Medishield Life next month, would I still need my NTUC Enhanced Incomeshield Plan?

Two weeks ago, I had a fall and was sent to SGH A&E by ambulance. Doctors identified a dislocation of my hand at the left shoulder and managed to fix it back for me. Also had a big “bualuku” on my forehead, haha, it is still there now, but subsided somewhat with blueblack mark still there. Last week, doctor found a small fracture at my arm joint location.

I stayed at the observation ward for 1 night, was discharged next day noon, exactly 24 hours from admission. SGH submitted hospitalisation claim to NTUC, now waiting for NTUC to approve the claim. I guess I would be able to claim under NTUC Enhanced Incomeshield Plan (NEIP) for staying at least 24 hours in hospital. Should the claim fail, I would have to pay using my CPF Medisave account.

If I can claim under NEIP, how would I benefit:

  1. I'm covered by a rider which gives me 100% coverage, ie I dun have to pay a single cent for hospitalisation expenses. Under Medishield Life, I would still have to pay for deductibles and coinsurance.
  2. If I stayed at C ward, I'll be paid a daily cash benefit, as I'm entitled to B2 under NEIP.
  3. Now I have to pay SGH SOC for periodic followup checkups and physio. I can claim under NEIP for all outpatient expenses 90 days post hospitalisation. Medishield life does not cover this aspect.

So, I'll still keep my NEIP. However, yearly premiums are increasing. Until my medisave account gets almost depleted or when I reach 75 or 80 or thereabouts when premiums become so high, I'll terminate it and just live with Medishield Life. As by then, I'll enjoy higher hospitalisation subsidy from the government, hahaha.

(Oct 16 - received letter and cheque from NTUC, payment made to SGH and cheque is my daily cash benefit.  Thank you NTUC)

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