As highlighted in our previous article, “Shield Plan and IP rider changes: This is your 2026 update”, major changes to IP riders took effect from 1 April 2026. Raffles Shield has also raised premiums for the first time in eight years reflecting rising medical costs and claims. At the same time, the new Raffles Choice Rider replaces the phased-out Key Rider with a lower-cost option but revised co-payment and deductible terms that may impact your out-of-pocket expenses. In this article, we share what has changed and whether the new structure offers better value or greater exposure.
Have a shield plan with another insurer? Read our other shield plan updates here:
- Income: New IP Riders 2026: Should I switch to the new Enhanced IncomeShield riders?
- Singlife: Singlife Shield & Rider Changes (April 2026): Should You Switch to the New Rider
- HSBC Life: HSBC Life Shield Plan and Rider: The 2026 Guide
A Summary of your Raffles Shield plan and its riders
Raffles Shield plan
Raffles Health Insurance offers 3 integrated shield plans (IP) with coverage for varying ward classes at public and private hospitals, as well as a standard IP. Here are the IP plans offered by Raffles Health Insurance:
|
|
Raffles Shield Private |
Raffles Shield A |
Raffles Shield B |
Raffles Shield Standard* |
MediShield Life (MSHL) |
|
Ward Entitlement |
Private Hospital |
Class A wards in public hospital |
Class B1 wards in public hospital |
Class B1 wards in public hospital |
Class B2/C wards in public hospitals |
|
Annual Limit |
Up to $1.5 million for panel or $600,000 for non-panel treatments |
Up to $600,000 |
Up to $300,000 |
Up to $200,000 |
Up to $200,000 |
*This is a no-frills standard integrated shield plan (IP) designed by the government that offers standardised benefits across all IP insurers.
Note: The annual limit for Raffles Shield Private is $1.5 million when treatment is obtained from panel providers. For non-panel providers, the limit is $600,000 for both Raffles Shield Private and Raffles Shield A.
Special option and Riders
Raffles also offer 2 special options and 3 riders that can be attached to its shield plans to enhance coverage:
Option / Rider | Details | Attachable to |
Raffles Hospital Option | Offers access to a private hospital (Raffles Hospital) at a lower price tag. | Raffles Shield A only |
High Deductible Option | Opt for a $10,000 deductible in exchange for lower premiums. | Raffles Shield Private, Raffles Shield A, and Raffles Shield B |
Choice Rider (New!) | Reduces your 10% co-insurance with a lower 5% co-payment (capped at $6,000). | Raffles Shield Private, Raffles Shield A, and Raffles Shield B (without High Deductibles) |
Cancer Guard Rider | Enhance your cancer protection by increasing your non-CDL coverage, boosting CDL limits, enhancing cancer drug limits, and including Traditional Chinese Medicine (TCM) coverage. | Raffles Shield Private, Raffles Shield A, and Raffles Shield B |
Premier Rider | Adds coverage for Immediate Family Accommodation, Post-Hospitalisation Follow-Up TCM, Post-Hospitalisation Home Care, Emergency Outpatient treatment due to an accident, and Ambulance Services | Raffles Shield Private, Raffles Shield A, and Raffles Shield B |
Information accurate as of 2 April 2026. For illustration purposes only.
Here is what’s new in April 2026:
- Premium Revision
Premiums for the Raffles Shield plans and the Raffles Key Rider has been revised, and policyholders can expect to see changes in the amount they pay for policies purchased and renewed after 1 April 2026.
Revised premiums for Raffles Shield Plan:
Premiums shown are retrieved on 2 April 2026 for policies issued on standard terms. For illustration purposes only.
Revised premiums for Raffles Key Rider and Raffles Choice Rider:
Premiums shown are retrieved on 2 April 2026 for policies issued on standard terms. For illustration purposes only.
There are no changes to the premiums or benefits for those holding the Raffles Shield Premier Rider and the Raffles Cancer Guard Rider, with coverage and costs for these riders remaining the same.
- Benefit revision
The Pregnancy Complications benefit will be enhanced for Raffles Shield Private, A, and B plans to cover the list of serious pregnancy and delivery complications as stated in the Ministry of Health (MOH) website.
Additional outpatient benefits will also be introduced to match MediShield Life’s enhanced outpatient coverage. These benefits include coverage for Home Ventilation and Respiratory Support Service, Paediatric Home Care, Negative Pressure Wound Therapy, Repetitive Transcranial Magnetic stimulation (rTMS), Pasteurized Donated Human Milk (PDHM), Hyperbaric Oxygen Therapy (HNOT), and Outpatient Parenteral Antibiotic Therapy (OPAT).
Raffles Shield also revised their Cell, Tissue and Gene Therapy Product (CTGTP) coverage for Kymriah and Yescarta drugs, changing from a $50,000 per year limit to a new $191,000 per indication per lifetime limit.
Commonly asked questions about Raffles Shield and its riders
1. What happens if I am currently holding on to the Raffles Key Rider?
If you purchased your Raffles Key Rider before 27 November 2025, there are no changes to your rider for now.
If you purchased Raffles Key Rider between 27 November 2025 and 31 March 2026, you must transition to the new Raffles Choice Rider at your first renewal after 1 April 2028.
2. What will change for the new Raffles Choice Rider?
Here are the key changes when moving from the Raffles Key Rider to the Raffles Choice Rider:
- Deductible Coverage is Removed: Under Raffles Key Rider, policyholders did not need to bear the deductible of their main Raffles Shield policy. Under the new Raffles Choice Rider, the deductible is no longer covered and must be paid entirely out-of-pocket by the insured before the rider's co-payment coverage kicks in.
- Co-payment Cap Increases to $6,000: Both riders replace your base plan's co-insurance with a flat 5% co-payment. However, the Raffles Key Rider caps this co-payment at $3,000 per policy year for treatments by panel, extended panel, or Government Restructured Hospital (GRH) specialists. The Raffles Choice Rider doubles this co-payment cap to $6,000 per policy year for those same approved providers. Non-panel co-payment remains uncapped for both riders.
- Waiver of Premium Benefit Remain Unchanged: Like the Key Rider, the new Choice Rider premiums are also covered under the base plan's Waiver of premium for insured benefit.
- Non-CDL Cancer Limits Remain Unchanged: Both the Key Rider and the new Choice Rider provide a strict $5,000 annual limit for outpatient cancer drug treatments that are not on the MOH Cancer Drug List (Non-CDL). Additionally, the 5% co-payment applies to Non-CDL treatments with no cap under both riders.
- Lower Premiums: Premiums for the new Raffles Choice Rider will be 50% lower than Raffles Key Rider.
3. Should I switch from Raffles Key Rider to Raffles Choice Rider?
Switching to the Raffles Choice Rider significantly increases your financial exposure without improving your medical coverage. While it does provide an estimated 50% in premium savings compared to the Key Rider, this may not justify the added out-of-pocket risks during a major health crisis.
Keeping the Raffles Key Rider covers your full deductible and caps your co-payment at $3,000. In contrast, the Raffles Choice Rider requires you to pay the full deductible yourself and doubles the co-payment cap to $6,000. When comparing against hospital bills of $10,000 and $200,000, the impact is obvious. While the new IP Rider cost less annually, you will face a higher out-of-pocket cost when hospitalised.
An illustration of how the riders will affect your hospital bill
Our recommendation: Keep your Raffles Key Rider
4. I am considering applying for Raffles Shield Plan. Should I add the Choice Rider?
Yes. We recommend adding the Raffles Choice Rider to your Raffles Shield plan to help manage large hospital bills. Without it, you must pay the deductible plus 10% co-insurance. With the Choice Rider, the co-payment is reduced to 5%, capped at $6,000. Including the deductible, your total annual out-of-pocket cost is capped at $9,500 when you seek treatment at panel, extended panel, or government restructured hospitals.
Note: There is no co-payment cap for treatments that are not pre-authorised by Raffles Health Insurance or provided by specialists outside the panel, extended panel, or government restructured hospitals.
However, the Choice Rider only reduces out-of-pocket costs and provides a $5,000 annual limit for non-CDL cancer drug treatments, which may leave a significant coverage gap. To enhance your cancer coverage, we recommend adding the Cancer Guard Rider.
An illustration of cancer coverage for riders attached to Raffles Shield Private
|
|
MediShield Life limit (MSHL) |
Raffles Shield Private with Raffles Choice Rider only |
Raffles Shield Private with Raffles Choice Rider + Cancer Guard Rider |
|
Cancer Drug Treatment for one primary cancer on the CDL |
$200 to $9,600 per month |
5x MSHL limit per month |
23x MSHL limit per month |
|
Cancer Drug Services for one primary cancer |
$3,600 per policy year |
5x MSHL limit per year |
20x MSHL limit per year |
|
Cancer Drug Treatment for non-CDL |
- |
$5,000 annual limit for Drug Classes A to E. Subjected to 5% co-payment with no cap. |
$255,000 annual limit for Drug Classes A to E. Subjected to co-insurance or co-payment requirements. |
Information retrieved on 2 April 2026, for illustration purposes only.
As shown in the table above, having the Cancer Guard Rider will increase your coverage to up to $250,000 annually for non-CDL treatments and up to 23 times MediShield Life limits for CDL treatments (including the base plan’s limits). It also includes benefits such as TCM at Raffles Medical Group and psychological counselling for cancer thus offering a more comprehensive cancer coverage.
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You may also be interested in:
- Shield Plan and IP rider changes: This is your 2026 update
- New IP Riders 2026: Should I switch to the new Enhanced IncomeShield riders?
- Your 2026 Guide to Critical Illness Coverage: Pay Less, Get More
- Why is Term Life Insurance Cheaper in Singapore? (A Regional Comparison)
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Available Products on FSMOne Insurance |
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Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment, General Insurance (Personal and Commercial) from AIA, AIG, Allianz, China Taiping, Cigna, Chubb, Etiqa Insurance, FWD Insurance, Great Eastern, Henner, Income, Manulife, MSIG, Raffles Health Insurance, Singlife, Sompo, Tokio Marine, and QBE. *Please check with our team if the product you want is available on FSMOne Insurance |
Information obtained from:
https://www.raffleshealthinsurance.com/products/raffles-shield/learn-more/raffles-shield-plans/
Information retrieved on 2 April 2026.
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