WE THANK Mr Tay Kim Lee for his feedback ("Lower Medisave withdrawal limits for IP premiums unfair"; last Friday).
An Integrated Shield Plan (IP) comprises two components - a basic MediShield component and an additional private insurance component.
Similarly, the IP premium also comprises two corresponding components.
However, a single Medisave withdrawal limit applies to the total IP premium today.
The Ministry of Health (MOH) will restructure this limit into two separate components to give greater clarity and certainty.
With the restructuring, Medisave can be used to fully cover MediShield Life premiums after the applicable subsidies, including additional premiums for pre-existing conditions, if any.
This way, Singaporeans will be assured that they can tap into their Medisave to pay for MediShield Life fully.
A new Additional Withdrawal Limit (AWL) will apply specifically to the private insurance component of IPs.
Singaporeans will continue to be able to use their Medisave to pay in full or part of this private insurance component, depending on their age and the type of coverage.
The AWL figure of $50 used in the infographic on March 17 ("Changes to Medisave") was solely for illustrative purposes.
MOH is currently studying the appropriate AWLs to set and we will have to balance between helping Singaporeans pay for their IP premiums using Medisave, and ensuring that they have enough Medisave for their other healthcare needs.
MOH will announce the actual AWLs at a later date.
We encourage Singaporeans to carefully consider the long-term affordability of their preferred plan when deciding if they should get an IP.
Lim Bee Khim (Ms)
Director
Corporate Communications
Ministry of Health
An Integrated Shield Plan (IP) comprises two components - a basic MediShield component and an additional private insurance component.
Similarly, the IP premium also comprises two corresponding components.
However, a single Medisave withdrawal limit applies to the total IP premium today.
The Ministry of Health (MOH) will restructure this limit into two separate components to give greater clarity and certainty.
With the restructuring, Medisave can be used to fully cover MediShield Life premiums after the applicable subsidies, including additional premiums for pre-existing conditions, if any.
This way, Singaporeans will be assured that they can tap into their Medisave to pay for MediShield Life fully.
A new Additional Withdrawal Limit (AWL) will apply specifically to the private insurance component of IPs.
Singaporeans will continue to be able to use their Medisave to pay in full or part of this private insurance component, depending on their age and the type of coverage.
The AWL figure of $50 used in the infographic on March 17 ("Changes to Medisave") was solely for illustrative purposes.
MOH is currently studying the appropriate AWLs to set and we will have to balance between helping Singaporeans pay for their IP premiums using Medisave, and ensuring that they have enough Medisave for their other healthcare needs.
MOH will announce the actual AWLs at a later date.
We encourage Singaporeans to carefully consider the long-term affordability of their preferred plan when deciding if they should get an IP.
Lim Bee Khim (Ms)
Director
Corporate Communications
Ministry of Health
