Insurance

THRIVE NEWSLETTER

Hospitalisation insurance 101 and how the new rules change things

[SINGAPORE] If you’ve been keeping up with headlines, chances are, you’ve stumbled upon “Integrated Shield Plan” and something called a “deductible” in your news feed. 

Dhipaya Insurance's managing director Somporn Suebthawilkul (left) with Andrew Yeo, Income Insurance chief executive.

Hive by Income to help roll out bite-sized insurance in Thailand

Dhipaya Insurance hopes to expand access to insurance among younger consumers

If you are satisfied with a subsidised public hospital, there is no need to buy an Integrated Shield Plan as your MediShield Life would be sufficient.

What the new Integrated Shield riders imply

The latest changes are a step forward in helping to shift the unhealthy behaviours of medical consumption

The Nov 26 fire in Tai Po is Hong Kong's deadliest fire in 80 years.

Infographic: Aftermath of HK Tai Po fire

The Business Times investigates the numbers behind the operation and the financial scale of the tragedy.

The fire may have been caused by a “grossly negligent” construction firm using unsafe materials, police said.

China Taiping Insurance shares hit by over US$200 million exposure to Hong Kong fire

The fire could substantially hurt the underwriting results of Hong Kong’s general insurance industry

Riders, which are paid fully in cash, are optional add-ons that reduce out-of-pocket costs by covering deductibles and co-payments.

‘Don’t be Fomo’, wait for clarity on revised premiums before renewing IP riders: advisers

Under the revised rules, premiums for new riders are expected to fall by about 30%

Existing policyholders will not be affected, and insurers may continue selling riders under the current regime until Mar 31, 2026.

MOH scraps full-deductible IP riders to tame rising private healthcare bills

The co-payment cap, which applies after the deductible, will also double to S$6,000

Riders are optional add-ons to an Integrated Shield Plan. They are meant to reduce one's out-of-pocket costs when making a hospital claim.
BT EXPLAINS

New IP rider rules: What stays, what goes, and how it affects you

MOH hopes removing riders that fully cover the deductible will maintain ‘cost discipline’ and reduce unnecessary admissions, tests and overnight stays

As a small country, Singapore faces “intense competition, a fierce battle for the same talent pool, and challenges such as an ageing population” – factors that may contribute to “structurally higher exposure and heightened risk sensitivity”, notes Ang Sock Sun of PwC Singapore.

Singapore insurers more anxious than global peers, as risks related to AI, cybercrimes rise: report

Broader technology disruptions and macroeconomic uncertainties are adding to worries, says PwC study

How do we figure out if we’re under or over insured?

Prudent planning, protected pockets

Combat inflation's impact on savings by "right-siting" your insurance. Howie Lim discusses this with Chan Wai Kit from Life Insurance Association (LIA).