Many of us would have been bombarded with newspaper ads, TV ads, Radio ads regarding the launch of CPF Medishield Life for Singapore Citizens and SPRs. This shows how important this new insurance is to the our Singapore society. It is compulsory for all of us to sign up.
This is really a “God Sent” insurance scheme for those of us with existing illnesses but do not have any medical insurance. This is a life saver! Go for it.
Paying for it is not an issue because of the huge subsidies given by the Government.
The Government will also provide significant support to keep premiums affordable:
- Premium Subsidies for the lower- to middle-income;
- Pioneer Generation Subsidies for Pioneers;
- Transitional Subsidies to ease the shift to MediShield Life for Singapore Citizens; and
- Additional Premium Support for those who are unable to afford their premiums even after premium subsidies.
More details here .
Please take note that this medical insurance pays for expenses incurred in a B2/C Ward of a Singapore Restructured Hospital with deductibles and co-insurance.
If you want to stay in higher wards or stay in a Private Hospital, CPF Medishield Life is not enough! You need to upgrade to a private insurance integrated Shield plan. A comparison can be viewed here.
If you are still confused, let me help you to clarify and buy the right plan for you!
I wish you good health and wisdom to make the right choices in life. Cheers!