SG 50 Celebration from NTUC Income

Enhanced Incomeshield New Sign-up

To cel­eb­rate Singapore’s 50th birth­day, you will receive Cap­it­aMall vouch­ers, when you sign up for a new Enhanced IncomeSheild plan dur­ing the pro­mo­tion peri­od from 10 May 2015 to 31 Decem­ber 2015.

For chil­dren (aged 12 years and below)
Enhanced IncomeShield plans Vouch­er amount
Pre­ferred (SG/PR/FR) $195
Advant­age (SG/PR/FR) $120
Basic (SG) $100
Basic (PR) $110
Basic (FR) $115
For all oth­er new sign-ups
Enhanced IncomeShield Main plans Vouch­er amount
All plan types $100

SG – Singa­por­ean; PR – Per­man­ent Res­id­ent; FR – For­eign­er
Terms and Con­di­tions apply. Click here for more inform­a­tion.

Med­ic­al Sub­sidy for Chil­dren hold­ing CHAS Blue Card
Chil­dren, aged 12 and below and hold­ing the Com­munity Health Assist Scheme (CHAS) Blue Card, now enjoy a Med­ic­al Sub­sidy at all Health­way Med­ic­al Group Clin­ics. NTUC Income OrangeAid reaches out to fam­il­ies on the CHAS Blue scheme to reduce their expenses for GP med­ic­al treat­ment.
Each child can claim a total amount of $100.00 (exclud­ing GST), on top of the CHAS Blue Card sub­sidy.

This Sub­sidy is val­id for all CHAS Blue child card­hold­ers (born in 2003 and there­after). If your child is ill, to receive the sub­sidy, simply take the fol­low­ing steps:
1. Bring your child and 2 neces­sary doc­u­ments (child’s CHAS Blue card and Birth Cer­ti­fic­ate) to a Health­way Med­ic­al Group clin­ic.
2. Fill in the Patient Con­sent Form at the clin­ic. For your ref­er­ence, a copy of the form is here.
With the com­pleted Patient Con­sent Form, NTUC Income will sub­sid­ise your child’s GP med­ic­al bills up to $100.00 (exclud­ing GST) in cel­eb­ra­tion of SG50.

View the list of par­ti­cip­at­ing clin­ics

 

SG50 Reward­ing First Gen­er­a­tion Policy Own­ers
NTUC Income will be reward­ing its poli­cy­hold­ers who own policies which are issued in 1970s and 1980s.  Cus­tom­ers who are eli­gible for this reward will be noti­fied by end June 2015.
For policies issued between 1 Jan 1970 t0 31 Dec 1979, the Cap­it­aMall vouch­er amount is equi­val­ent to the cal­cu­lated annu­al premi­um of the reg­u­lar premi­um policy, roun­ded up to the nearest $100. The table below shows some examples:

Cal­cu­lated annu­al premi­um of the policy Amount of Cap­it­aMall vouch­ers per policy
$100.00 and below $100
$100.01 to $200.00 $200
$500.01 to $600.00 $600
$1,500.01 to $1,600.00 $1,600
$2,000.01 to $2,100.00 $2,100

For policies issued between 1 Jan 1980 to 31 Dec 1989, the vouch­er amount is fixed at $50, regard­less of the annu­al premi­um amount.
Please note that the reg­u­lar premi­um NTUC Income Life Insur­ance Policies issued in 1989 or earli­er must be in force as of 1 Janu­ary 2015.
How­ever, cer­tain policies are excluded for this reward as stated below:

  • Where policy own­ers are deceased;
  • Where policy own­ers are undis­charged bank­rupts;
  • Sub­ject to trusts under sec­tion 73 of Con­vey­an­cing and Law of Prop­erty Act;
  • With irre­voc­able nom­in­a­tion under sec­tion 49L of the Insur­ance Act; or
  • Without any val­id Singa­pore billing address.

MediShield Life and Integrated Shield Plan

The MediShield Life Review Com­mit­tee has just released the recom­mend­a­tions on the enhanced bene­fits to the cur­rent MediShield. The changes are as fol­lows:-

a) Remove the life­time claim lim­it of $300,000;

b) Remove the cov­er­age age lim­it of 90 years old;

c) Uni­ver­sal cov­er­age for all, includ­ing pre-exist­ing con­di­tions;

d) Increase the policy year claim lim­it from $70,000 to $100,000;

e) Increase the daily claim lim­its for nor­mal wards from $450 to $700 and ICU wards from $900 to $1,200;

f) Increase the claim lim­its for sur­gic­al pro­ced­ures from $150-$1100 to $200-$2000;

g) Increase the daily claim lim­its for com­munity hos­pit­als from$250 to $350;

h) Sub­stan­tially increase the claim lim­its for out­pa­tient can­cer chemo­ther­apy and radio­ther­apy treat­ments, to bet­ter cov­er the cost of sub­sid­ised can­cer treat­ment;

i) Lower co-insur­ance rates from the cur­rent range of 10–20% to 3–10%;

Co-insur­ance Cur­rent MediShield MediShield Life
Claim­able Amount
$0 — $3,000

20%

10%

$3,001 — $5,000

15%

10%

$5,000 — $10,000

10%

5%

>$10,000

10%

3%

Out­pa­tient Treat­ments

20%

10%

j) Start premi­um rebates earli­er from age 66, instead of age 71

The addi­tion­al costs arising from the expec­ted high­er claims from those with pre-exist­ing con­di­tions will be shared across those with pre-exist­ing con­di­tions, the exist­ing insured poli­cy­hold­ers, and the Gov­ern­ment. Those with pre-exist­ing con­di­tions will pay high­er premi­ums at an addi­tion­al 30% for a peri­od of 10 years, in view of high­er risks. The premi­um increase for the remain­ing poli­cy­hold­ers as a res­ult of uni­ver­sal cov­er­age should be no more than 3% from cur­rent premi­ums.

The private Integ­rated Shield Plan (IP) con­sists of two parts – the basic MediShield plan and a top-up por­tion. As an Integ­rated Shield Plan poli­cy­hold­er, you enjoy the com­bined bene­fits of MediShield, which is run by CPF Board, and the enhanced bene­fits of the top-up por­tion, which is run by your private insurer. When imple­men­ted, MediShield Life will replace the cur­rent MediShield por­tion of your IP.

Because MediShield Life will provide cov­er­age for all pre-exist­ing con­di­tions, you will also enjoy the MediShield Life cov­er­age, for life, includ­ing for any pre-exist­ing con­di­tions that you may have. This will apply even if the con­di­tion is excluded fromthe top-up cov­er­age by your Integ­rated Shield insurer.

As the admin­is­trat­or of MediShield Life, the CPF Board will assess all claims from the IP poli­cy­hold­ers and make pay­outs accord­ing to the MediShield Life bene­fits. The CPF Board will for­ward MediShield Life pay­outs to the private insurer, who will com­pute its share of cov­er­age and then provide the com­bined pay­out to the hos­pit­als dir­ectly.

All Integ­rated Shield Plan poli­cy­hold­ers will also receive cov­er­age for life under MediShield Life. Because Integ­rated Shield Plans premi­ums include a MediShield com­pon­ent which will become MediShield Life in future, eli­gible IP poli­cy­hold­ers will also receive sub­sidies from the Gov­ern­ment to help pay for part of their MediShield Life premi­um.

When MediShield shifts to MediShield Life, the premi­um for the MediShield por­tion will increase due to the MediShield Life changes. Hence, the over­all premi­um for Integ­rated Shield Plans may also increase.

The Life Insur­ance Asso­ci­ation has assured the MediShield Life Review Com­mit­tee that the bene­fit recom­mend­a­tions made by the Com­mit­tee will have min­im­al impact on the IP (i.e. top-up) com­pon­ent of premi­ums of Integ­rated Shield Plans. Insurers will assess the impact of the MediShield Life changes on the over­all IP premi­um and will advise their poli­cy­hold­ers when the changes are con­firmed.

All Singa­pore cit­izens will be eli­gible for the fol­low­ing sub­sidies on their MediShield Life premi­ums: trans­ition­al sub­sidies to cush­ion the increase in their pay­able MediShield premi­um, as well as Pion­eer Gen­er­a­tion MediShield sub­sidies if they are Pion­eers and MediShield Life premi­um sub­sidies if they meet the income cri­ter­ia. All Integ­rated Shield Plan poli­cy­hold­ers will enjoy the same sub­sidies for the MediShield Life com­pon­ent of their IP premi­ums.

The Gov­ern­ment will release more inform­a­tion on how you will be assessed for the premi­um sub­sidies when ready.