Insurance plans have become a necessity for everything possible within a household. For the car, house, fridge, etc, everything needs an insurance plan to cover their expenses during any disaster. Though not all insurance companies provide the required coverage, they may span some of the expenses.
Just like how the things in your household require insurance, you too require one. For the benefit of the doubt, it is always good to have health insurance covering your extra hospital expenses. Especially during emergencies, these insurance policies may come in handy. So what are the different types of hospital insurance plan Singapore that is available?
Basic MediShield Insurance
If you are a permanent resident of Singapore then this insurance is already provided by your government itself. This will cover your hospital expense and guide you to the wards of types B2 and C. The plan is called as MediShield Life. Also, this insurance is only applicable to public hospitals in Singapore.
Currently, the insurance policies and claims are changing. The government is ready to accept a claim of up to 70% in covid cases while the rest will be at 30%. But when the residents have a MediShield Life and employee insurance, their basic hospital expenses are covered.
Integrated Shield Plans or IPs
This plan is an upgrade from the basic insurance provided by the government. You will have to top up the previous plan to receive the benefits of an Integrated Shield Plan. While the basic insurance could only assure you wards of B2 and C, this plan can provide you with so much more.
This plan can even cover your expenses in a private hospital. But if you still choose to be an in-patient in a public layout hospital, then your wards are upgraded to A and B1. There are additional claim limits and you can also have your pre and post-hospitalisation charges covered up to a percentage.
Though the integrated plan itself can cover much of your hospital expense, IP Riders are an add-on to your Integrated plans of hospital insurance Singapore. The difference is set right from the mode of payment. While the other two insurance has online payment modes, this insurance is to be paid by cash itself.
There are different plans within IP Riders itself and depending on your needs, you can upgrade them. But ultimately, they will cover a larger portion of your hospital bills when compared to IPs and Medishield.