
#1 Changes to MediShield Life limits for Cancer
As shared in our article "Will the New Cancer Drug Change Affect Me?", from 1 September 2022 each cancer drug treatment on the Cancer Drug List (CDL) will have their own MediShield Life claim limit and MediSave withdrawal limit.
Ministry of Health (MOH) has also since revised the limits following feedback received. This will take effect from 1 April 2023 upon policy renewal.
Before 1 Sep 2022 |
Effective from 1 Sep 2022, upon policy renewal |
Effective from 1 Apr 2023, upon policy renewal |
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MediShield Life (MSHL)1 |
Claimable up to $3,000 a month for all cancer drug treatments. |
Additional MSHL Cancer Drug Services of $1,200 per calendar year
Cancer Drug Treatment $200-9,600 per month dependent on treatment (must be on the CDL) |
Additional MSHL Cancer Drug Services of $3,600 per calendar year
Cancer Drug Treatment $200-9,600 per month dependent on treatment (must be on the CDL) |
MediSave |
$1,200 per month for all cancer drug treatments and services. |
If you have a claim limit from MSHL of above $5,400/month: $1,200/month for Cancer Drug Treatments
If you have a claim limit from MSHL at $5,400/month and below: $600/month for other treatments on the Cancer Drug List Additional $600/year for cancer drug services and other cancer scans. |
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While these changes are meant to help individuals pay less out of pocket expenses for their cancer treatment, there are concerns on whether MediShield Life’s current coverage is actually enough. This is where Integrated Shield plans will come into the picture.
#2 Can I enhance my cancer coverage with Integrated Shield Plan (IP) or Riders?
If you feel apprehensive about MediShield Life’s cancer coverage, consider enhancing this with an Integrated Shield plan (IP) and rider. One such IP offered is the Enhanced IncomeShield by Income.
Enhanced IncomeShield with Deluxe Care / Classic Care riders by Income2 |
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The good |
The bad |
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Individuals can further reduce their out-of-pocket expenses for cancer treatments with an add-on integrated shield (IP) riders.
Here is an illustration of how IP and its rider can help.
For Cancer Drug Treatment claims (per month) |
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Benefit limit for MediShield Life (MSHL) |
Benefit limit for Enhanced IncomeShield (Preferred) |
Benefit limit for Deluxe Care Rider |
Total Benefit limit |
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#A |
Cancer Drug List (CDL) treatment |
$ 2,000** |
5 times of MSHL limit: 5 x $2,000 = $10,000 |
10 times of MSHL limit: 10 x $2,000 = $20,000 |
$10,000 + $20,000 = $30,000 |
#B |
Non Cancer Drug List (CDL) treatment* |
N.A. |
N.A. |
Benefit limit of up to $15,000. Note that a 10% Co-payment is required |
$15,000 |
For Cancer drug service (per policy year) |
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#C |
CDL and Non-CDL* treatments |
$3,600 |
5 times of MSHL limit: 5 x $3,600 = $18,000 |
N.A. |
$18,000 |
*Non Cancer Drug List (CDL) treatment for Drug Class B of Non-CDL treatment.
**Cancer Drug List (CDL) treatment ranges from $200-$9,600 depending on the treatment received. For this example, we use a $2,000 benefit limit from MediShield Life to illustrate the example.
For the illustration of scenario #A, individuals with only MediShield Life may expect to receive up to $2,000 for cancer drug treatments on the CDL. This is increased to $10,000 if an individual has an Integrated Shield plan (Enhanced IncomeShield Preferred), and $30,000 if an individual adds on an IP rider.
Likewise, if an individual opts for a treatment not on the CDL, he/she would not receive any coverage from MediShield Life and their IP plan. However, in this case, if the individual has the Deluxe Care rider, he/she would then be able to receive a benefit limit of up to $15,000.
#3 What other options do I have to enhance my cancer coverage
While MediShield Life, and Integrated Shield plans may help alleviate the cost of specified cancer treatments, individuals can still expect to incur other expenses during their recovery period. Examples of such expenses may include hiring a caregiver for your dependents, or to care for your own daily needs. Moreover, with the cap to cancer treatments, you may also have to fork out additional monies for cancer treatment should you exceed the claimable amount from your IP and IP rider.
If you are concerned about these potential expenses, and would like income replacement during your recovery period, you may consider cancer plans. We compare three such plans in the table below.
iFAST Digital Term + Cancer 360 rider |
TM Protect Cancer |
Manulife CI FlexiCare |
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Insured by |
Raffles Health Insurance |
Tokio Marine |
Manulife |
Coverage |
Death, Terminal illness + Cancer (add-on rider) |
Cancer |
Death, Critical Illness |
Policy term |
Yearly renewable |
Yearly renewable |
Fixed term to specified age |
Suitable for |
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This may not be suitable if |
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Sample premiums |
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Cancer coverage amount |
$100,000 |
$100,000 |
$100,000 |
Annual premiums*** |
$60^ |
$156 |
$584 |
^Premiums shown are for $50,000 core coverage, and $100,000 Cancer360 rider coverage.
***Profile: Age 30, non-smoker male. Premiums are rounded to the nearest whole number and are accurate as of 13 April 2023.
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Available Products on FSMOne Insurance |
Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment, General Insurance (Personal and Commercial) from AIG, Allianz, Chubb, Etiqa Insurance, FWD Insurance, Great Eastern, Manulife, NTUC Income, QBE, Sompo and Tokio Marine Life Insurance *Please check with our advisory team if the product you want is available on FSMOne Insurance |
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Source
1 https://www.cpf.gov.sg/member/infohub/educational-resources/enhanced-support-for-cancer-treatment
2 https://www.income.com.sg/health-insurance/enhanced-incomeshield
