Medishield & Eldershield Quiz

The insured who can qualify for Additional Premium Support are those who are needy with limited family support and are unable to afford the premiums even after receiving government subsidies. This means that they have financial constraints and require additional assistance to afford the premiums for their insurance coverage.

ElderShield is a long-term care insurance scheme in Singapore that provides financial support for individuals who are unable to perform at least three out of six Activities of Daily Living (ADLs) due to old age or disability. The premiums for ElderShield are determined based on the individual's age at the time of enrollment and do not increase with age. This means that once enrolled, the premiums remain constant throughout the coverage period, regardless of how old the individual gets. Therefore, the statement that ElderShield premiums do not increase with age is true.

As individuals age, they are more likely to experience health issues and require medical treatments. This higher incidence of health problems among individuals aged 81 and above leads to an increased cost of healthcare treatments. To compensate for these higher costs, insurance companies may set higher deductibles for this age group. This helps to limit the claims made by older members and ensures that the insurance company can cover the expenses associated with their healthcare needs.

Premium subsidies are applicable to the MediShield Life component of the Integrated Shield Plan if the member meets the criteria to qualify for premium subsidies. This means that members who have an approved Integrated Shield Plan can receive premium subsidies for the MediShield Life portion of their plan, as long as they meet the eligibility requirements for these subsidies.

The correct answer is 600. ElderShield Supplements allow the premiums to be paid using MediSave savings. The maximum limit for the premiums that can be paid per year per insured person is 600.

To purchase Supplement plans, it is necessary to have an existing ElderShield plan. This implies that one cannot purchase Supplement plans without first having an ElderShield plan in place.

ElderShield is a program designed to provide basic financial protection to individuals who require long-term care due to severe disability. It aims to assist those who are unable to perform daily activities independently and require ongoing assistance and support. The program offers financial support to help cover the costs of long-term care services, such as nursing home care or home-based care. By providing this financial protection, ElderShield aims to alleviate the financial burden on individuals and their families when faced with long-term care needs.

To opt out of ElderShield after receiving the ElderShield package, the member must complete the opt-out form enclosed in the package and send it back to the assigned insurer within the grace period before coverage begins. This implies that the member must proactively take action to decline the coverage by submitting the opt-out form within the specified timeframe. Calling the CPF hotline or using the online service at the CPFB website are not mentioned as options for opting out in this explanation.

Members can pay for their ElderShield coverage through automatic deduction from their MediSave account. If their MediSave balance is not enough to cover the premium, they can give approval for the premium to be deducted from their family members' MediSave account. Alternatively, they can also choose to pay in cash directly to their insurer.

The correct answer is "For as long as you meet the criteria." This means that a member will be eligible for MediShield Life premium subsidies as long as they continue to meet the necessary requirements. There is no specific time limit mentioned, indicating that eligibility is ongoing as long as the criteria are fulfilled.

The statement is false because MediShield Life does cover other ward types. MediShield Life is a basic health insurance plan in Singapore that provides coverage for inpatient hospitalization expenses, including ward charges. It covers both subsidized and private hospital wards, allowing individuals to choose their preferred ward type. Therefore, the given statement is incorrect.

The correct answer is 65 because ElderShield premiums need to be paid until the age of 65. After that, the coverage will continue for the rest of the person's life without any further premium payments.

Severe disability is defined as the inability of an individual to perform three or more Activities of Daily Living (ADLs) independently. ADLs refer to basic self-care tasks such as bathing, dressing, eating, toileting, transferring, and continence. This means that a person with severe disability requires assistance or support to carry out these essential activities. The mention of "with or without mobility aids" implies that even if the individual uses devices or aids to assist with mobility, if they still cannot perform three or more ADLs independently, they are considered to have severe disability.

Co-insurance refers to the percentage of the claimable amount that the insured individual needs to pay out of pocket after the deductible has been applied, before MediShield Life pays the remaining amount. This means that the insured is responsible for a portion of the medical expenses, while MediShield Life covers the rest.

The correct answer is the claimable amount that an insured needs to pay first in each policy year before any payout from MediShield Life. This means that before an insured individual can receive any benefits or payouts from MediShield Life, they must first pay a certain amount out of pocket. This deductible amount is set each policy year and must be paid by the insured before any claims can be made.

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The eligibility criteria for the suspension of MediShield Life premium collection include the member making a declaration that they have adequate means to meet healthcare needs in their country of residence and do not need to rely on MediShield Life, completing full-time National Service (NS) or not being required by MINDEF to serve full-time NS for males above 13 years old, and having resided outside Singapore for the past 5 years prior to application and possessing a valid Citizenship/Permanent Residency permit in the country of residence.

The statement is false because there is no requirement for your ElderShield Supplement insurer to be the same as your basic ElderShield insurer. You have the flexibility to choose different insurers for these two types of coverage.

Eligible members will receive the ElderShield welcome package by post from their assigned insurer, 3 months before their 40th birthday. This means that individuals who are eligible for ElderShield will receive the welcome package three months prior to turning 40 years old. This package is likely to contain important information and instructions regarding their ElderShield coverage and benefits.

MediShield is a basic health insurance plan in Singapore that provides coverage for large hospital bills and certain outpatient treatments, primarily focusing on severe illnesses. On the other hand, ElderShield is a long-term care insurance scheme designed to provide financial support to the elderly in the event of severe disability, helping to cover costs associated with long-term care. ElderShield is targeted at individuals above the age of 40.