MIND THE GAP ·
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Higher premiums work, but they're no magic pill

While data show most insurers' gains were due to premium hikes, these don't really address over-consumption of services and over-charging among healthcare providers

POLICYHOLDERS of Integrated Shield plans (IP), particularly those catering for private hospitals, have suffered relatively steep premium hikes over the past few years - both for their base plan and riders - especially at older ages.

Are there more hikes in the offing? The good news is that IP insurers have made strides to shore up their health portfolios. Most have significantly reduced underwriting losses in 2018. Prudential, a leading IP provider, is the only insurer to report a dramatic rebound into the black - a profit of S$42.73 million in 2018, vs losses of S$14.95 million in 2017 and S$18.67 million in 2016.

The improvement in insurers' underwriting results for their individual medical expense...

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