Raffles Shield Singapore Review 2026: Plans, Premiums & the New Choice Rider

Independent review of Singapore’s only hospital-backed integrated shield plan — updated April 2026.

Raffles Shield is Singapore’s only integrated shield plan (ISP) backed by a medical group — Raffles Medical Group. It offers four plans — Standard, B, A, and Private — covering B1 wards in public hospitals up to private single-bed wards. From 1 April 2026, a new Choice Rider replaced the old Key Rider, lowering co-payment to 5% with a $6,000 annual cap for panel treatments.

Not financial advice. All figures are for educational reference only. Data verified as at 27 August 2026.

What Is Raffles Shield?

Raffles Shield is an Integrated Shield Plan (ISP) offered by Raffles Health Insurance (RHI) — a wholly-owned subsidiary of Raffles Medical Group. It was launched in 2018, making it one of Singapore’s newer ISPs.

An ISP sits on top of your mandatory MediShield Life coverage. MediShield Life provides basic protection for Class B2 and C wards in public hospitals. Raffles Shield tops this up — giving you access to higher-class wards (B1, A, or private hospital), more generous claim limits, and Raffles Medical Group’s specialist network.

What makes Raffles Shield genuinely different from the other six ISPs is its hospital backing. RHI is a subsidiary of the same group that runs Raffles Hospital and Raffles Medical clinics. That means your insurer and your care provider are part of the same ecosystem — which can simplify Letters of Guarantee, streamline referrals, and give you a more coordinated experience when you’re hospitalised.

Seven companies offer ISPs in Singapore: AIA, Great Eastern, HSBC Life, Income Insurance, Prudential, Raffles Health Insurance, and Singlife. You can only hold one ISP at a time, so choosing wisely matters. Our complete shield plan Singapore guide covers all seven providers.

Raffles Shield Plans at a Glance

Raffles Shield comes in four base plans. Your choice determines which ward class you can stay in and how high your annual claim limit is.

Source: Raffles Health Insurance official product summary, April 2026

A few important notes:

• GRH = Government Restructured Hospitals (e.g. Singapore General Hospital, National University Hospital, Tan Tock Seng Hospital, KK Women’s and Children’s Hospital)
• Raffles Shield A + Raffles Hospital Option lets you access Raffles Hospital at a lower premium than the full Private plan — a smart middle ground
• Shield A and Private plans cover pre-hospitalisation treatment as charged up to 180 days, and post-hospitalisation up to 365 days

Riders: Choice Rider, Cancer Guard & Premier

Riders are optional add-ons that reduce your out-of-pocket costs when you make a claim. Raffles Shield offers three main riders.

Choice Rider (New from 1 April 2026)

The Choice Rider is Raffles Shield’s core ISP rider, launched to meet MOH’s new design requirements. It replaces the old Raffles Key Rider, which is no longer available for new purchase from 1 April 2026.

Source: Raffles Health Insurance, April 2026 update. CDL = Cancer Drug List (MOH-approved cancer drugs).

The $6,000 co-payment cap only applies when you seek treatment from a RHI panel specialist, extended panel specialist, or a Government Restructured Hospital. If you go to a non-panel private specialist, the 5% co-payment has no cap — meaning a very large bill could leave you with a significant out-of-pocket amount.

This is the key trade-off to understand when comparing Raffles Shield against other ISPs. Our ISP rider comparison 2026 shows how all seven insurers’ new riders stack up.

Cancer Guard Rider

An additional cancer-specific rider available with Shield B, A, or Private plans. It provides comprehensive cancer drug coverage — including treatments not on MOH’s Cancer Drug List — along with Traditional Chinese Medicine (TCM) support from Raffles Chinese Medicine and psychological counselling. Premiums for this rider remained unchanged in April 2026.

Premier Rider

Also available for Shield B, A, and Private plans, the Premier Rider adds extra benefits including accommodation expenses for an immediate family member during hospitalisation, post-hospitalisation TCM, home care after discharge, emergency outpatient accident treatment, and ambulance services. Premiums for this rider also remained unchanged in April 2026.

April 2026 Changes

Two significant changes took effect from 1 April 2026 for Raffles Shield.

1. Premium Increases Across Base Plans

Raffles Shield base plan premiums were unchanged since the plan launched in 2018 — a remarkable 8-year freeze. From April 2026, RHI revised premiums for all four base plans and the old Raffles Key Rider.

The driver? Medical claims cost inflation. WTW projected Singapore medical inflation at 16.9% for 2026 — reflecting rising adoption of new technologies, treatments, and pharmaceuticals, plus higher operating expenses across healthcare facilities.

For exact premium tables by age and plan, see the official RHI product summary page. Premier Rider and Cancer Guard Rider premiums were not revised.

2. Enhanced Medical Benefits

At the same time, RHI expanded benefit limits across Shield Private, A, and B plans — doubling several MediShield Life caps:

Source: Raffles Health Insurance, April 2026 update announcement

These enhancements matter most for policyholders with complex conditions requiring extended recovery at home — think post-stroke care, ventilator support, or wound management after surgery.

Deductible and Out-of-Pocket Costs

From 1 April 2026, your ISP rider no longer covers your minimum deductible. You now pay this yourself before Raffles Shield steps in to cover the rest.

The deductible amount is set by MOH and is the same across all seven ISPs. It ranges from $1,500 to $3,500 per policy year, depending on your ward class. Check the MOH ISP comparison page for the full deductible table by ward class.

With the Choice Rider

After paying your deductible, you pay 5% co-payment on the remaining eligible bill. If you’re using a Raffles panel specialist or a Government Restructured Hospital, this 5% is capped at $6,000 per year — no matter how large the bill gets.

Without Any Rider

You pay the deductible, then a 10% co-insurance on the remaining amount — with no cap. On a large private hospital bill, this can add up significantly.

The chart above illustrates how the Choice Rider reduces your out-of-pocket costs on larger bills when using panel specialists. The benefit is most pronounced for hospital bills above $50,000, where uncapped 10% co-insurance becomes expensive.

Want to understand how the new rider rules affect all 7 ISPs? Read our ISP rider changes 2026 guide.

High Deductible Option

If you have corporate insurance, consider Raffles Shield’s High Deductible Option. You voluntarily take on a $10,000 deductible in exchange for lower annual premiums. Your corporate plan picks up the bill below $10,000, and Raffles Shield handles everything above that. This strategy can significantly cut your ISP premium cost.

Not sure if you have enough coverage? Use our free insurance gap calculator Singapore to check your overall protection level.

Raffles Shield Pros and Cons

Here’s a straight assessment of what Raffles Shield does well and where it falls short.

✅ Pros

• Hospital-backed insurer — RHI is part of Raffles Medical Group. If you’re hospitalised at Raffles Hospital, your coverage and your care provider are from the same family. Letter of Guarantee processing is typically smoother.
• Raffles Hospital Option — Shield A policyholders can add this option to access Raffles Hospital at a lower premium than the full Private plan. It’s a practical middle ground between Class A public hospital and full private coverage.
• Stable premium history — Base plan premiums were unchanged from 2018 to March 2026 — 8 years. That signals disciplined underwriting and claims management.
• Enhanced April 2026 benefits — Home ventilation, HBOT, rTMS, and paediatric home care limits were all doubled versus MediShield Life — above market average.
• Premium waiver on Choice Rider — If the parent payor dies or suffers total permanent disability, the insured child’s premiums are waived.

❌ Cons

• Smaller specialist panel — Raffles Health Insurance’s network is narrower than larger providers like AIA or Prudential. Seeing non-panel specialists means uncapped co-payment — a real risk for large bills.
• No co-payment cap outside panel — The $6,000 cap only applies to RHI panel / GRH treatments. Private specialist visits outside the panel have no cap, regardless of the Choice Rider.
• Not available online — You must purchase through a Raffles Health Adviser or financial adviser. No self-serve option online.
• Fewer rider choices — Just three riders (Choice, Cancer Guard, Premier). Competitors like AIA or Prudential offer more flexible add-on options.
• Newest ISP — Launched in 2018, it has a shorter track record on claims handling than insurers with decades of experience.

Who Should Consider Raffles Shield?

Raffles Shield is worth considering if:

• You’re an existing Raffles Medical Group patient and want your insurance to align with your care provider
• You want Class A public hospital coverage with the option to upgrade to Raffles Hospital without switching plans (Shield A + Raffles Hospital Option)
• You have a Raffles panel specialist you trust and see regularly
• You want the enhanced home-care and post-hospital benefits that the April 2026 changes introduced

It may not be ideal if:

• You frequently see specialists at hospitals or clinics outside the Raffles ecosystem
• Premium cost is your top priority — larger ISPs may offer more competitive rates at some age bands
• You want maximum rider flexibility or comprehensive cancer coverage beyond the Cancer Guard Rider

Before you decide, always compare across all seven ISPs. Our HSBC Life Shield review 2026 and our Singlife Shield review give you similar deep-dives for comparison.

Not financial advice. Always consult a licensed financial adviser before selecting or switching ISPs.

Frequently Asked Questions