Tan Kin Lian's Blog: CPF Medishield

Wednesday, January 30, 2008

CPF Medishield

CPF MediShield is being revised. It will cover a wider range of treatment and cover an average of 80% of hospital bills (increased from the current 60%). The premium will be increased by an average of $10 a month.

For most people, CPF Medishield (after the revision) is better than the Shield plans offered by private insurers for the following reasons:

1. Saving of about 15% of premium in marketing expenses (incurred by private insurers).
2. Saving of about 15% to 25% in the profit margin of private insurers

The potential saving in insuring with CPF Medishield could be 30% to 40% for the same type of coverage.

As most of the medical expenses will be incurred when one gets old, and the cost is likely to escalate due to age and inflation, it is important to choose a cost effective medical insurance plan, such as Medishield.

8 comments:

Anonymous said...: Medishield only covers B2/C-class wards, right? Patients in these wards cannot choose their own doctors (eg. cannot request for senior consultant). I do hope that the gov't will revamp the healthcare system to make it more affordable and with more freedom of choice.; January 30, 2008 10:52 AM
Anonymous said...: Mr Tan, do you know if the revision applies to the equivalent of the "as charged" plans by private insurers? I thought I read that the revision affects only those in C class; which means those of us choosing private hospital plans will not benefit from the revisions. Pls correct me if my understanding is wrong. Thank you.; January 30, 2008 2:19 PM
Anonymous said...: I agree that medishield plan is enough instead of those fanciful plans in the market.
The problem many Singaporean are kiasu. They want to insure everything even the small bill.They forgot the meaning of "catastrophic' .That is how many waste their money on these tiny tiny little things which would have gone to more important areas of their needs. I can only think of insurance agents who fed them wrong stuff.; January 30, 2008 2:24 PM
Anonymous said...: Will it cover hospital fee in class A ward?; January 30, 2008 3:47 PM
Anonymous said...: Looks like there is no end in hike, already adding to the current rash of price and fee hikes.
There is quite a few changes in the healthcare. First the means testing kicked in, and then wider coverage of treatment from Medishield but with an increase. Will this lead to a change in Elder shield? Up to everyone's guess.; January 30, 2008 4:42 PM
Anonymous said...: Is there a typo error by mentioning increased by S$10 per MONTH (which is too high)? Or is it per YEAR instead (which is more reasonable)?; January 31, 2008 2:21 AM
Anonymous said...: Dear Mr.Tan,

This the case, can you advise if someone has opted for IncomeShield can now choose to re-enrol into new CPF MediShield?; January 31, 2008 1:27 PM
Anonymous said...: In 2003, I claim a few case for my late sister. There was no statement of claim from MOH. Medisave. There is no transparency.

In 2008 January, My wife claim for her deceased father. She received a statement with details of claim.
Both government and INCOME (Basic Plan) pay 100% of S$30k. The family do not pay a single cents. There is transparency.; January 31, 2008 1:59 PM