MediShield Life will only provide you with subsidised cover for your most basic hospitalisation, surgical or outpatient needs while restricting you to a ‘C’ or ‘B2’ class ward which do not have to air-condition. This is why so many people purchase an Integrated Shield Plan (ISP) which provides better coverage for these needs. ISP policyholders are entitled to ‘A’ or ‘B1’ class wards which are altogether far more comfortable.
Most forms of Group Hospital and Surgical (GHS) insurance policies would provide you with a similar experience as having a combination of MediShield Life and an ISP. To avoid such unnecessary duplication of coverage & benefits, you may request of your employer to simply make an extra contribution to your Medisave account to help pay a portion of your ISP premium through the Portable Medical Benefits Scheme (PMBS), instead of purchasing separate GHS policies.
Only if you are a S Pass or Work Permit holder, would they need to provide you with GHS coverage. If an employer is feeling exceptionally generous they may opt to participate in the Transferable Medical Insurance Scheme (TMIS) which is an enhanced form of GHS. With TMIS your impatient needs are covered for a further 12 months after you leave the company. So far it is clear that receiving corporate insurance, enables you to elevate yourself from basic hospitalisation, surgical, and outpatient cover under the Medishield scheme, to higher quality coverage. However corporate insurance policies go far beyond that.
They may contain many more benefits which will be of varying importance to different individuals. Below will be a selection of corporate insurance policy aspects, their use, benefits, and importance.