IP insurers to offer new standard Class B1 plans from May

Singapore

AFTER almost two years in the making, the new standardised Integrated Shield Plan (IP) targeted at Class B1 wards in public hospitals will be available to Singaporeans from May 1.

The new, no-frills private insurance plan will be offered by all five IP insurers: AIA, Aviva, Great Eastern, NTUC Income, and Prudential.

They will have identical benefits that provide coverage on top of the government universal healthcare scheme MediShield Life, but the premiums vary.

In terms of the cumulative costs of the standard B1 plan for all age bands, Great Eastern (S$37,617) is the cheapest of the lot, followed by NTUC Income (S$40,263), Aviva (S$43,800), AIA (S$43,918), …