This has been fixed as of Patch 4. I use to complain loudly about it. Though it is still temporary hit points instead of a hit point shield. But it does give you 2x level + Intelligence modifier. If you can find a Shield of Faith scroll, you can add it to your spellbook. Then use that spell to replenish your Ward. Unfortunately the Shield spell is not in the game yet, so SoF is a good substitute.
