Going for a heart surgery can be expensive. But whether you're getting a coronary artery bypass grafting (CABG), coronary angiogram or heart stenting (PTCA) procedure, here's your guide to how Integrated Shield Plans, MediSave, MediShield Life or private health insurance can cover you – so that you can focus on getting well.
As part of your Central Provident Fund (CPF), MediSave can be used to pay for certain basic health costs for yourself or on behalf of your dependants. Alternatively, MediSave can also be used to pay for MediShield Life, a low-cost medical insurance scheme introduced by the government to help meet large hospital bills.
In 2015, MediShield was replaced by MediShield Life. This upgraded scheme covers more of your hospital bills, but premiums – which can be paid via MediSave – are higher (although some subsidies are available). So take note!
Before you commit to anything, you should always feel comfortable that you have all the information you need. Find out what you can expect to pay for common surgical treatments at private hospitals, or speak to your personal financial advisor to get independent advice.
Apart from the Integrated Shield Plans scheme, there are also MediSave-approved Integrated Shield Plans. Anyone who contributes CPF can use his MediSave to buy Integrated Shield Plans, which offer better benefits and greater coverage for you and your dependants.
Purchase an Integrated Shield Plan with the relevant 'cash rider' to eliminate the need for you to pay upfront for deductibles, co-insurance and other items that may not be covered under your basic MediShield Life cover.
Of course, you can also get health and medical insurance via private insurance companies, such as AIA, Aviva, AXA, Great Eastern, NTUC Income, Prudential, or whichever insurance provider you feel most comfortable with. Depending on the package and premiums, these can provide additional coverage that includes private hospitals.
Some individuals with private health insurance, such as an Integrated Shield Plan, may be unaware about the amount of coverage they get for procedures such as heart treatments at private hospitals.
At Mount Elizabeth Hospitals, Gleneagles Hospital, and Parkway East Hospital, you can call or WhatsApp Parkway Insurance Concierge at +65 9834 0999 to find out if your Integrated Shield Plan covers you and your loved ones at our private hospitals.
At Mount Elizabeth Hospitals, you will undergo financial counselling before your procedure, and the hospital will inform you the amount you owe. The hospital will also check what health insurance you have and clarify the amount of MediSave and private health insurance that can be claimed. When you are discharged, the Business Office will also explain and arrange your final bill for you.
Health insurance can be confusing. Here are the 6 questions you should always ask your health insurance agent.
What happens when you go for a heart procedure? We explain all in our step-by-step guide to a heart bypass, heart stenting or an angiogram.
With the correct insurance coverage, your bill size can be better gauged and managed.
With an Integrated Shield Plan and rider, the amount of cash you need to fork out for medical bills will be minimal, and may even be paid for by MediSave.
Get an estimate of your out-of-pocket expenses for common surgical procedures (and a single-room stay) at Mount Elizabeth Hospitals, Gleneagles Hospital, and Parkway East Hospital. You may be surprised at how affordable private healthcare can be.
*As of 31 March 2021. Please check with your insurance agent for exact coverage and policy changes.