Why am I paying for duplicate coverage - once for MediShield Life and once for my private Integrated Shield Plan (IP)?
You are not paying for
duplicate coverage. IPs build on what MediShield Life has to offer, often providing better coverage for higher premiums.
What should I do now that MediShield Life is launched? Should I cancel my private IP?
That is up to you, but here are several questions you should ask yourself:
Do you want to stay in Class B1, A or private hospitals? Do you want to choose your own doctor? MediShield Life does not cover these.
Can you afford to pay for your IP premiums in the long term, even after you retire? IP premiums will rise significantly as you age. Ask your insurance agent for an indication of premiums when you are in your 70s and 80s.
Check out this link for more frequently asked questions on MediShield Life: bit.ly/1klRNo1
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