• All blog entries
    • Calculators
    • Case studies
    • Cost of living
    • CPF Are You Ready?
    • CPF Matters
    • Credit Management
    • e-Learning
    • Estate Planning
    • Events
    • Financial advisers
    • High Networth
    • Insurance
    • Investments
    • Letters to the Press
    • Magazines
    • Others
    • Retirement Planning
    • Scams
    • Surveys
    • Tragic Stories
    • Unethical sales process
    • Videos
  • Legal
  • Testimonies
    • Individual testimonies
    • Gallery
  • My Account
Hi, looking for a fee-based financial planner in Singapore? Read this article now!
  • Home
  • About
    • About Wilfred Ling
    • Wilfred Ling from Client to Adviser
    • Why do you run your own professional financial planning practice?
  • FAQs
    • FAQs on Wilfred Ling’s Financial Services
    • FAQs on Financial Planning
    • FAQs on Investments
    • FAQs on Insurance
    • FAQs on Estate Planning
  • Services
    • Overview
    • Retirement Planning
    • Investment Portfolio Management
    • Insurance Planning
  • Fees
  • Cool Tools
  • Contact
  • Subscribe
You are here: Home / Insurance / ST forum: Increase MediShield Life coverage for psychiatric treatment

ST forum: Increase MediShield Life coverage for psychiatric treatment

13, October 2015 by Wilfred Ling Leave a Comment

Here is a forum letter I wrote which was published just today:

Many people with mental illness are not willing to come forward for treatment because of the stigma associated with such conditions ("Mental illnesses 'not all in the mind'"; 8 Oct 2015 ).

However, those who wish to seek treatment may find the cost of treatment unaffordable. Also, the loss of a job due to the illness further exacerbates their financial burden.

It is unfortunate that the coverage by MediShield Life for psychiatric treatment remains minuscule.

Its inpatient psychiatric treatment benefit remains unchanged at $100 per day.

On the other hand, daily ward coverage for normal wards, intensive care unit wards and community hospitals have increased by 56 per cent, 33 per cent and 40 per cent respectively.

When medical inflation is taken into consideration, the inpatient psychiatric treatment benefit has actually decreased.

Coverage for mental illness is also capped for those who are insured with Integrated Shield Plans (IPs).

The insurers offering IPs either offer significantly lower coverage, compared with other physical illnesses, or cap the number of hospitalisation days for psychiatric treatments.

Perhaps the Government can take the lead by increasing the MediShield Life coverage for psychiatric treatment to be on a par with other ward charges.

Insurance companies should also not differentiate between mental and physical illnesses.

Wilfred Ling

Source: http://www.straitstimes.com/forum/letters-on-the-web/increase-medishield-life-coverage-for-psychiatric-treatment

Here is a short film regarding dementia:

Like this article? Subscribe to my newsletter below for more.

Get regular Tips on Financial Planning. Free subscription for 3 years. Covers all aspect of financial planning such as 'How much salary you should have?', 'How to avoid insurance that is not suitable?", 'What are the retirement planning methods?", etc

Share this:

  • Tweet
  • Print

Related

Filed Under: Insurance, Letters to the Press

What do you think? Leave a comment. Cancel reply


WILFRED LING, CFA

WANT TO GET REGULAR TIPS ON FINANCIAL PLANNING?

JOIN with thousands of other subscribers in getting tips on all aspect of financial planning such as "What is the minimum salary required?", "How avoid insurance that is not suitable", etc.


WILFRED LING IN THE NEWS

Click HERE to find out more.


THE KIND OF CLIENTS I AM LOOKING FOR

NEW TO US?

Learn how you can fully benefit from this massive website: HERE

For Registered Users Only (free)

  • iFAST Monthly Investment Update -July 2020 7/7/2020
  • Navigator Newsletter_June 2020 (36 pages) 19/6/2020
  • iFAST Monthly Investment Update -June 2020 (21 pages) 9/6/2020
  • Fortitude Budget – Save, create jobs and be post-pandemic ready 28/5/2020
  • Navigator Newsletter May 2020 (44 pages) 22/5/2020

View All

For Clients Only

  • JPMorgan Guide to Market Q2 2020 15/4/2020
  • JPMorgan Perspective Q2 2020 15/4/2020
  • JPMorgan Guide to Market Q1 2020 5/2/2020
  • JPMorgan Perspective Q1 2020 5/2/2020
  • PPAM Quarterly Market Outlook 1Q2020 (17 pages) 1/2/2020

View All

Top Posts

  • Strange way of how CPF Interest is calculated & retirement planning CPF has a rather strange way of calculating interest. I...
  • CPF: How to Accumulate $1m in your CPF by 57? I read from the CPF’s AREYOUREADY facebook about a man...
  • Vanguard funds in Singapore at just US$ 20,000! Vanguard is the world’s most famous index fund provider...
  • Access Information & Sign Up Page
  • How financial advisers are paid? This article is inspired by this article YOUR PRACTICE-...

Recent comments

  • LittleTiger on Nomination in insurance policies
  • Josephine Pek on Nomination in insurance policies
  • chonghoong lim on Strange way of how CPF Interest is calculated & retirement planning
  • Jeremy Tan on Strange way of how CPF Interest is calculated & retirement planning
  • Janice on CPF Retirement Sum Scheme
  • Duskerdawn on Strange way of how CPF Interest is calculated & retirement planning

To be notified of new blog post, like this facebook page

To be notified of new blog post, like this facebook page

Read articles based on different categories

Investment Login

iFAST Central: Login

iFAST Prestige: Login

Navigator: Login

Chartered Financial Analyst

CFA
5 years milestone in Continuing Education

Chartered Financial Consultant

ChFC

Featured Blogger

IM$avvy
© Copyright 2006-2021 Wilfred Ling. All Rights Reserved hollow-nasty
hollow-nasty
hollow-nasty
hollow-nasty