MediShield Life kicked in on Sunday (Nov 1). The national health insurance scheme aims to help Singapore residents pay for large hospital bills and costly outpatient treatments by providing higher claim limits.
MediShield Life is universal, meaning all Singaporeans and permanent residents will be covered. That includes 23,000 people who have serious pre-existing conditions and are currently uninsured. However, this group has to pay an extra 30 per cent in premiums for 10 years after MediShield Life begins in November.
The new scheme has no lifetime claim limit. It was capped at S$300,000 for the old scheme. The maximum claim limit per policy year is now S$100,000, up from S$70,000.
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MediShield Life Premiums and Subsidies
As an insurance scheme, MediShield Life premiums are risk-pooled to support the payouts and benefits under MediShield Life. Those with serious pre-existing conditions may have to pay Additional Premiums for 10 years.
The Government will also provide significant support to keep premiums affordable, including those who need to pay Additional Premiums:
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.
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