Portable Group IncomeShield – Product Summary

The portable plan with multiple benefits

Healthcare benefits are often key considerations for employees when negotiating for their benefits package. It would be more attractive if your company offers a portable medical plan where the cover continues well into post-retirement years.

NTUC Income’s Portable Medical Benefits Scheme (PMBS) promises such a portability feature for hospitalisation benefits. It is a hospital and surgical benefit that rides on the framework of an employee’s individual private shield plan, like our Enhanced IncomeShield or IncomeShield. It is “portable” and provides continuous medical coverage even after the employee leaves the company, so long as premiums are paid.

Having a Group IncomeShield offers a superior cost and value proposition in medical benefits for both companies and employees.

Supplement to Portable Group IncomeShield

We have also introduced a non-portable yearly-renewable Supplement which provides benefits for those with Enhanced IncomeShield – to take care of the deductible and a large portion of the 10% co-insurance that is inherent in all private shield plans, and for all other employees who cannot qualify for or choose not to switch to Enhanced IncomeShield. The net result is to ensure that coverage is provided from the “first dollar” for employees insured on Enhanced IncomeShield and that no employees will be worse off from switching to PMBS.

Portable Assist Rider

Alternatively, your company can choose to implement PMBS with a fully portable Assist Rider and Enhanced IncomeShield plan to help your employees manage large hospitalisation bills.
With a portable Assist Rider, all your employees need to pay is 10% of the claimable amount, subject to a cap. This ensures the medical expenses they have to fork out is manageable. Furthermore, they are entitled to daily hospitalisation allowance if the ward admitted to is lower than the entitled ward under the selected plan.