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MediShield Life: What you need to know

A summary of the revised claims limits under the revised scheme, which will be in place by the end of 2015.

SINGAPORE: The Government on Thursday (June 5) said it welcomed the MediShield Life Review Committee's recommendations for the scheme, which will be implemented by the end of 2015. Here's what you need to know about MediShield Life:

HOW WILL I BENEFIT FROM MEDISHIELD LIFE?

The committee signalled that a key thrust of the scheme will be better benefits and coverage for all Singaporeans who may face large hospital bills, while premiums will be kept affordable to all.

Under MediShield, pre-existing conditions are excluded, and coverage only extends until the age of 90. But under MediShield Life, all conditions including pre-existing ones are covered for life.

Here's a summary of the recommended enhanced benefits:


WILL I HAVE TO PAY HIGHER PREMIUMS?

Yes, although assurances have been given that premiums will remain affordable for all. Better benefits will require higher premiums, the committee noted.

Also, the cost of extending protection to those with pre-existing conditions will be spread out among everyone, though the Government will take on the majority of the cost.

To help offset costs, from 2015, the employer contribution to Medisave will rise by 1 percentage point, as announced in the Singapore Budget 2014. 

WHAT IS THE GOVERNMENT'S ROLE?

Those who benefit from the Pioneer Generation Package will have subsidised premiums and Medisave top-ups for life. Similarly, there will be subsidies for the low to middle-income households, forming up to two-thirds of the population. There will also be a five-year Medisave top-up for those aged 55 to 64 in 2014.

To ease the shift to the new scheme, the Government will provide transitional subsidies over the next four years for all Singapore citizens.

Further financial assistance will be available for those who need help even after premium subsidies, the Ministry of Health said in its press release.

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