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(5 Mins Read) Understand Singapore Medical / Hospitalisation Insurance (Integrated Shield Plan)

1. What is Hospitalisation Insurance in Singapore?

Hospitalisation insurance is designed to cover the costs incurred during a hospital stay, including daily room charges, surgical fees, and pre- and post-hospitalisation outpatient expenses.

It is different from critical illness life insurance, as the two types of insurance serve different purposes but are complementary.

In Singapore, this type of insurance is crucial because medical costs, especially in private hospitals, can be very high.

You can refer to the benchmark for hospital bills/medical fees in Singapore provided by the government website.

 

2. Key Features of Singapore’s Hospitalisation Insurance

  • Multi-level coverage: From government-subsidised B2/C-class wards to private hospital rooms, you can choose a plan that suits your needs.
  • Local and international coverage: Some policies also provide international medical coverage, which is ideal for frequent travellers or those residing in multiple countries.
  • Excludes outpatient treatment: Regular treatments such as a cold or flu that require outpatient visits are generally covered under a medical certificate (MC) for standard medical benefits and leave requests.

 

3. What is an Integrated Shield Plan (IP)? Is it hospitalisation insurance?

In Singapore, the professional term for hospitalisation insurance is the Integrated Shield Plan (IP).

Singapore’s basic hospitalisation insurance, MediShield Life, is a mandatory basic coverage designed for Singapore Citizens and Permanent Residents. It covers basic treatment costs at public hospitals.

To get more comprehensive coverage, many people opt for an Integrated Shield Plan (IP), which includes:

  • Access to higher-grade ward types (e.g., private rooms in public/private hospitals)
  • Coverage for higher-level treatments
  • Reduced out-of-pocket expenses

For foreigners who cannot access MediShield Life, they typically purchase private health insurance, which is essentially an Integrated Shield Plan (IP).

 

4. What to Consider Before Buying a Medical Insurance?

  • Guarantee Renewal: Singapore medical insurance policies usually include a guarantee renewal clause, meaning the insurance company must renew the policy as long as premiums are paid on time, regardless of claims made.
  • Policy Coverage Amount: Coverage can go up to 2 million SGD, with annual updates.
  • Deductible and Co-insurance: Some out-of-pocket costs are still required even with hospitalisation insurance, but you can eliminate the deductible or reduce co-insurance with riders.
  • Premium: Will premiums increase after claims? Most companies do not raise premiums after claims, but some may increase them.
  • Claim Services & Speed: Hospitalisation insurance typically has a higher frequency of claims, so it is important to choose a company with good claim services and speed.

 

5. What is Not Covered?

Most hospitalisation insurance policies do not cover:

  • Pre-existing conditions (health issues that existed before purchasing the insurance)
  • Cosmetic surgery/procedures
  • Outpatient treatment (unless specifically stated, such as chemotherapy or kidney dialysis)

 

6. Which Insurance Companies Offer Integrated Shield Plans in Singapore?

Several insurance companies in Singapore offer personal hospitalisation insurance, including but not limited to:

  • NTUC IncomeShield
  • AIA Healthshield Gold Max
  • Great Eastern Supreme Health
  • Prudential Prushield
  • Singlife Shield
  • Raffles Shield
  • HSBC Life Shield

With so many options, it’s important to compare and find the plan that best fits your needs and budget. I can help you compare them.

 

Quick Tips for New Insurance Buyers:

  • Check Employer Benefits: Employers typically provide basic medical insurance. If it’s not enough, consider purchasing additional private insurance for enhanced coverage.
  • Plan Ahead: A good medical insurance plan should not only meet current needs but also accommodate future health changes or lifestyle adjustments.
  • Consult a Professional Advisor: If you’re unsure which policy to choose, seek help from a professional insurance advisor who can tailor a solution for you.

 

What’s Next?

Hospitalisation insurance is not just a tool for paying medical bills; it provides peace of mind during unexpected health issues. Take 5 minutes to understand your options and make sure you and your family are well-protected!

For more details and quotes on hospitalisation insurance, feel free to contact me anytime!

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Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

Published By:

Lidwina Teo 维娜

With over 5 years of experience in client service industries, I come to understand and appreciate the importance of high-quality customer service and customer experience. The key is to always prioritize the best interests of customers, ensuring their needs and expectations are met with professionalism.

The passion for client service extends into my current role where I strive to deliver personalized financial planning services. With more than 150 business partners in our company, I can help you achieve your financial goals by analyzing various financial products and offering tailored financial advice. 

Contact me now to request for a quotation or schedule a coffee session for further discussion. See you soon!

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根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

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  • 鑫盟理财私人有限公司的代表或员工并未直接与我联系或提出要约或招揽购买我原居住国境内所不提供的任何金融产品.
  • Financial Alliance Pte Ltd ( “FAPL”) is licensed by the Monetary Authority of Singapore (“MAS”) and allowed to conduct financial advisory activities in accordance with the Financial Advisers Act (Cap. 110) (“FAA”) and the Securities & Futures Act (Cap. 289) (“SFA”) within the jurisdiction of the Republic of Singapore and in accordance with the licenses granted by MAS
  • 鑫盟理财私人有限公司( “鑫盟理财”)持有由新加坡金融管理局(“MAS”)所颁发的牌照，并许可在新加坡共和国境内依据财务顾问法（第110章）和证券与期货交易法（第289章）进行财务咨询等相关业务
  • Any services provided by FAPL to persons not ordinarily resident in Singapore are provided solely on an offshore basis from Singapore, resulting from direct enquiry on the part of the foreign residents.
  • 鑫盟理财为非新加坡居民所提供的任何服务仅限于直接向鑫盟理财发出咨询请求的国外居民。
  • As an integral part of the provision of such services, FAPL may from time to time make available to such residents, documents and information making reference to capital markets products (for example, in connection with the provision of fund management or investment advisory services outside of the foreign jurisdiction).
  • 作为提供此类服务的一部分，鑫盟理财会不时向此类咨询者提供有关产品的参考文件和信息（例如，关于海外司法管辖区以外的资金管理或投资咨询服务等信息）。
  • Such documents and information are provided by Financial Alliance Pte Ltd (“FAPL”) is for general information only and is not intended for anyone other than the recipient.
  • 此类由鑫盟理财所提供的文件和信息仅供收件人做一般信息参考。
  • It does not take into account the specific investment objectives, financial situation or particular needs of any particular person.
  • 此类文件和信息不会把-个人投资目标，财务状况或其特定需求等考虑在内。
  • It does not constitute the making available of, or an offer or solicitation by FAPL to buy or sell or subscribe for any such capital markets product or to enter into a transaction or to participate in any particular trading or investment strategy nor an advice or a recommendation with respect to such financial products.
  • 鑫盟理财向该人士提供此类文件和信息将不构成要约或招揽购买或出售或认购任何此类资本市场产品，或达成交易或参与任何特定的投资策略，也不构成有关此类金融产品的建议或推荐。
  • These documents may not be published, circulated, reproduced or distributed in whole or in part to any other person without FAPL’s prior written consent.
  • 未经鑫盟理财的事先书面同意，不得将这些文件全文或部分发布，传播，复制或分发给其他人。
  • This document is not intended for distribution to, publication or use by any person in any jurisdiction, where such distribution, publication or use would be contrary to applicable law or would subject FAPL and its related corporations, connected persons, associated persons and/or affiliates to any registration, licensing or other requirements within such jurisdiction.
  • 鑫盟理财无意在分发，出版或使用此类文件可能违反当地法律，或本公司及关联公司或关联人士需要注册，获得许可或符合规定的司法权区向当地人士分发、出版此类文件或供其使用。
  • You shall ensure that you have and will continue to be fully compliant with all applicable laws in your home country when entering into discussion or contracts with FAPL.
  • 在与鑫盟理财进行讨论或签订合约时，您应确保您已完全遵守并将继续遵守您所在原居住国的所有适用法律及条规。

In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.

根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.

提交此表格，即表示您已阅读并理解鑫盟理财私人有限公司的个人数据政策