The Business Times

MediShield Life

Singapore

Six out of seven insurers raised premiums for Integrated Shield plans, riders in 2025

[SINGAPORE] Citing pressures from rising claims, medical inflation and expanded benefits, all private insurers but one here offering Integrated Shield Plans (IPs) have increased premiums for most of t...

Starting in April, claim limits for MediShield Life will be raised, and coverage will be expanded to include additional outpatient treatments and new therapies.
Companies & Markets

Insurers brush off impact of higher MediShield Life premiums, claim limits on Integrated Shield Plan

Companies and association say medical inflation and healthcare consumption are key factors to keeping long-term costs sustainable

Starting in April, some MediShield Life rules will be changing, and that will also affect Integrated Shield Plans.
Podcasts

WealthBT: MediShield Life and Integrated Shield Plan changes in 2025 - What you need to know

WealthBT host Genevieve Cua and Alex Lee, president of the Singapore Actuarial Society, unpack the upcoming changes to MediShield Life and Integrated Shield Plans.

In Integrated Shield Plans, a pro-ration factor is applied if a policyholder consumes healthcare at a higher class ward than his plan entitlement. This prevents cross-subsidisation, which will eventually raise plan premiums.
Wealth

How fair are Integrated Shield Plans’ pro-ration factors?

The public’s concerns about IPs shows that an expectation gap clearly exists

All changes to IP coverage have to be approved by the MOH.
Singapore

Great Eastern cuts coverage for A and B1 policyholders who upgrade to a higher-class ward

INSURANCE company Great Eastern Life (GE) has reduced significantly the coverage for its integrated shield plans (IPs) – which pay for non-subsidised treatment – when a policyholder opts for a higher ...

Pharmaceutical companies charge different prices in different countries for the same drugs.
Wealth

Understanding medical insurance premiums and why they are rising

Claims take up the largest share per dollar of premium at 78 per cent, followed by distribution cost at 12 per cent

As we live longer, keeping physically fit and economically active become more important.
Opinion & Features
SENSE & CENTS

Why I go light on insurance

Perhaps working zealously on building a nest egg trumps buying insurance policies

Portability would allow IP policyholders to switch insurers without undergoing new underwriting assessments.
Singapore

Not the ‘right solution’ to mandate full portability for IP insurance: Minister of State Rahayu

Calls for IP portability mainly come from policyholders who are unhappy with changes in coverage terms, facing claim difficulties, or struggling to afford premiums

One key change involves updating the current legislation’s language to allow treatments or services to be received “from” an approved medical institution, rather than strictly “in” one, broadening the range of care settings covered.
Singapore

MediShield Life amendment Bill seeks to expand measures for recovering premiums, support new models of care

Discouraging policyholders from defaulting on their premiums will keep the insurance scheme sustainable, says minister

Medical cost inflation in Singapore is estimated at between 10.67 and 13 per cent annually.
Wealth
THINKING ALOUD

Higher Integrated Shield premiums likely in 2025; policyholders should take stock of affordability

There is a need to guard against overconsumption of healthcare, which hurts all in the risk pool

Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
View More