If you know that you are not protected in this area, do contact me as most people neglect protection needs when they are healthy and when they need it most they are not able to be insured. Even if they can be insure the loading in premium could be substantial.
Moreover most people have the misconception that once they have some insurance policies they do not need to review it. In fact most people bought their policy when they start work hence several years could have lapsed and their previous insurance may not meet their needs anymore. Hence a periodical review is required to address this changes such as marriage, addition of new kids, new job..etc.
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Cheers
Eric
More get help with medical bills under MediShield Life
From: http://www.straitstimes.com/singapore/more-get-help-with-medical-bills-under-medishield-life
PUBLISHED
NOV 1, 2016, 5:00 AM SGTNearly 400,000 claims were made between last November and September this year, and more than $600 million was paid out.
Of this, $102.5 million went to people who were previously uninsured, a Ministry of Health spokesman told The Straits Times. Over the same period in the previous year, $307.5 million was disbursed for 291,500 claims under the old MediShield.
MediShield Life was launched on Nov 1. It covers every Singaporean and permanent resident for subsidised care for life.
Previously, those too old or sick were not covered. It is not known how big this group was.
Now, the previously uninsured are covered - and getting more in payouts. They made 65,000 claims and received slightly more per claim - $1,577, compared with other policyholders who got an average of $1,539. Both are higher than the average claim of $1,271 under the old MediShield, before the better coverage by MediShield Life kicked in.
One such patient was Madam Yuen Soh Ying, 92, who fractured her hip in April. She needed surgery followed by rehabilitation at a community hospital.
Her subsidised hospital bill still topped $10,000. Before Nov 1 last year, Madam Yuen would have had to pay all of it with Medisave or cash. But with MediShield Life, $6,600 of her bill was picked up by the scheme. Medisave took care of most of the rest, leaving only $100 to be paid in cash.
MP Joan Pereira, a member of the Government Parliamentary Committee for Health, said: "The impact and support afforded by MediShield Life's enhanced benefits would be more pronounced as the population ages."
There is a trade-off. Premiums rose, mounting to $1.75 billion in the 11 months from its launch, compared with $685.7 million in the same period the previous year. The premium per person is between $130 and $1,530, depending on age.
Of the total, almost half was subsidised by the Government.
Premiums collected, minus subsidies given, will be invested in Special Singapore Government Securities as these have long-term stability, said Ms Fang Ai Lian, who chairs the MediShield Life Council.
The council also decides on appeals, including requests from Singaporeans living abroad who do not plan to return here to live, to be excluded from the scheme.
It announced a month ago that they can be "suspended" from the scheme, but will have to pay the full unpaid premiums plus interest if they return permanently and require medical treatment.
About 200 people have applied for such exemption, Ms Fang said.
As for appeals, such as for more subsidy, she said that not only did the council have to consider the "unique circumstances" of each case, but the solution also has to be consistent and fair to all.