New Integrated Shield riders: Should you make a switch?
Riders are cheaper but increase out-of-pocket costs. Is the switch worth it? What are the hidden costs and cancer coverage changes?
If you have an Integrated Shield Plan, something just changed that is worth your attention. New riders came into effect on 1 April, and they are significantly cheaper than the ones most people are currently on. The catch is that they leave you paying more out-of-pocket when you are hospitalised. Whether that trade-off makes sense for you depends on more than just the price difference.
In this episode of WealthBT, a podcast of BT Correspondent, host Genevieve Cua sits down with Eddy Cheong, chief executive of insurance advisory firm, Havend, to work through what these changes actually mean for policyholders. This is a practical, no-jargon conversation for anyone trying to figure out what to do before their next renewal.
Why listen
- What actually changed on 1 April and what it means for your out-of-pocket costs Deductibles can no longer be covered by riders and the co-payment cap has doubled. Cheong explains what that looks like in real terms for a hospital bill.
- Who should switch to the new rider and who should stay put Your medical history and your expectations for the next decade matter more than the premium saving alone. Cheong walks through how to think about it.
- The unintended consequence nobody is talking about Will higher out-of-pocket costs cause some people to delay seeking treatment? Cheong addresses this directly.
- Why the headline premium saving may be smaller than it looks Base plan costs have also risen across most insurers, which narrows the net saving considerably.
Healthcare costs are not going down anytime soon. Understanding your coverage now could save you from a much harder decision later. Listen now.
Discover more episodes at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.
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Written and hosted by: Genevieve Cua (gen@sph.com.sg)
With Eddy Cheong, chief executive officer, Havend
Edited by: Howie Lim & Claressa Monteiro
Produced by: Genevieve Cua, Howie Lim & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.
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ABOUT THE PODCAST
BT Correspondents brings together some of The Business Times’ most trusted columnists in a single series. Featuring Mark to Market, WealthBT, TransportBT, and PropertyBT, weekly episodes deliver expert analysis and clear perspectives on stocks, wealth, mobility, and real estate. It is essential listening for professionals who want context, clarity, and depth.
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