Hospital shield insurance 1

The hospital medical shield insurance is probably the most important portion in you and your family's insurance, in terms of wealth protection. Unfortunately it is also one of the least understood, as insurance agents and financial planners do not emphasize on it.

Part of the reason why agents have not been looking into this very important shield insurance, is becos their renumeration does not compensate it. A normal medical shield insurance would only cost S$100+ in a year. (payable through CPF Medisave account)  Assuming their renumeration is 30%, it would just translate to a miserly $30 commissions in a year. Hardly interesting for a high flying agent, if his/her desire is to make quick and big bucks.

Another reason is probably because the Singapore government has seen this great importance, as hospital medical bills have been steadily rising over the years, and have been trying to include most, if not all, into the national wide Medishield program.

Unfortunately after many years of Medishield implementation, there is still a small portion of the population, that falls outside of this important hospital shield insurance. They are namely some of our non-working mothers, and some of our younger siblings, before the Medishield was made compulsory.
http://www.moh.gov.sg/mohcorp/hcfinancing.aspx?id=306#

If u noticed that you or your loved ones are not covered under Medishield, pls pls enrol them at least into Medishield. The hospital bill unfortunately is probably the only debt in Singapore that will not end, even in the event of death. A hospital stay of cancer treatment will easily go up to 6 figures, enough to bankrupt most of us, without shield insurance.
When in doubt, if possible in an emergency, always go to A&E govt hospital of the lowest subsidised ward of B2 / C class (there is no penalty for upgrading later, but downgrading of ward class is not allowed). Enrolling in a subsidised ward, would also mean that the outpatient (when out of the hospital) and followup treatments, are also subsidised by the govt. In the event that the illness turns out to be chronic (long term), the subsidies will go a long way financially.