Ensuring sufficient medical protection is important during your retirement years. Frequent medical check-ups and the possibility of a major illness could occur as you get older.
While the medical savings account (Medisave) and health plans (MediShield* and ElderShield) in your CPF can help ease your burden on medical bills, it may not be sufficient to cover every aspect of your healthcare needs. For example, MediShield and Medisave may not provide an extensive cover when a short but expensive hospital stay is required.
ElderShield provides protection in the event of severe disabilities but cash reimbursements are basic and fixed over a period of time. Should disabilities drag on for long, costs can escalate. You should consider enhancing your health coverage with plans that focus on critical illness, long-term care, or hospitalisation and surgery reimbursements over and above what you have in your CPF.