So you're probably aware that we have a national health insurance scheme called "MediShield Life". And you may also have heard of another national insurance scheme called called “CareShield Life” - especially if you’re over 30 years old. CareShield Life is the upgraded version of ElderShield.
But how much do you really know about these two government-based schemes? And do you know how they can help you?
Here are the fundamental facts about the two.
So now you know how MediShield Life and CareShield Life work.
Here's a simple illustration to demonstrate how the two plans complement each other:
John suffers a stroke.
He's admitted to the hospital, requires surgery, as well as post-surgery check-ups. MediShield Life and his Integrated Shield Plan help to cover his hospitalisation and surgical fees so that he can afford the treatment.
After being discharged from the hospital, John continues to experience weakness and has difficulty fulfilling his activities of daily living. He's unable to get back to work and has to hire a live-in domestic helper to take care of him. He also needs to modify his home with ramps and non-slip floors to help with his mobility. His CareShield Life and CareShield Life Supplement payouts help to cover his long-term care and living expenses.
Once you understand the functions of MediShield Life and CareShield Life, and how they both provide different but equally essential financial support when your health suffers, it's good to assess if you're adequately covered. Ideally, you should have enough medical and severe disability coverage to support the level of care you want in the event you're hospitalised or need long-term care. Additionally, get up to speed with the recent MediShield Life changes (MediShield Life Facts & How To Avoid High Medical Bills | Singlife Singapore). (Psst! Get up to speed with the recent MediShield Life changes.
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