My wife and I are both retirees. We both have Enhanced Incomeshiled & Plus Rider.
For the coming insurance year, we will be paying premiums $517 & $311 (payable by Medisave) for Enhanced Incomeshield and $304 & $224 (payable by cash) for Plus Rider for myself & my wife respectively.
I shall be grateful for your advice whether we need such insurance which I consider rather expensive. Or alternatively should we switch to the basic Medishield offered by CPF. If so, how do we go about doing that?
REPLY
I think that basic Medishield is adequate for retirees, provided that you are willing to be treated in B2 ward. The premium is much lower than a private Shield plan. You can pay the Deductible out of Medisave. Read this FAQ:
http://www.tankinlian.com/faq/shield.html
You can contact CPF to switch to basic Medishield.
A private bank insurance arm representative called me yesterday and told me she is specialising in accident and hospital plans. When I compared the existing plan that I am on and the one she is recommending it was found that it was found that the private plan is more expensive and covered less. She then tried to interest me on the private shield plan. I told her that medishield is the best for me as I am prepared to stay in B2. If that is insufficient to cover then my medisave will kick in. If still not enough, our government will have to do the rest, whether they like it or not, as I believed that if one has exhausted the medishield plan on class B2 or C class and still went on to exhause the twenty over thousand dollars in medisave and if still alive then our government should be gracious enough to continue treatment for its citizens.
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