Even with the increase in benefits under MediShield Life, there remains a cap on the MediShield Life payout. Is it possible to introduce a stop-loss feature to provide greater assurance to Singapore Residents?
MediShield Life is designed to be a basic scheme, with claim limits, deductible and co-insurance features to keep premiums affordable for all Singaporeans. In particular, co-insurance helps to reduce the propensity for over-consumption, over-servicing and over-charging which can arise when there is no co-payment required for medical treatment.
The co-insurance, deductible and amount above the claim limits can be paid through Medisave and cash. Today, about 8 in 10 Singaporeans pay little or not cash for their subsidised hospitalisation bills. Needy Singaporeans who are unable to pay their share of bills can seek MediFund assistance from the public hospitals.
This information provided here is sourced from the MOH website.
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