WealthBT: MediShield Life and Integrated Shield Plan changes in 2025 - What you need to know
Changes are coming to your MediShield Life and Integrated Shield Plans this year after 2024’s MediShield Life review. Are you ready for them?
In the latest episode of WealthBT, Genevieve Cua, wealth editor of The Business Times, offers insights into the intricacies of proration in health insurance plans. She is joined by Alex Lee, president of the Singapore Actuarial Society, who provides expert analysis on how proration impacts MediShield Life and Integrated Shield plans (IPs).
Unpacking pro-ration
Throughout the episode, you’ll gain a better understanding of pro-ration—the method by which hospital bills are scaled—and why it is necessary. Lee explains how pro-ration ensures fair premium rates and prevents cross-subsidisation between different ward classes, keeping MediShield Life true to its intent. Additionally, you’ll hear about the impact of recent MediShield Life reviews and the reasons behind the adjustments in pro-ration factors.
Lee highlights the significant consequences of poorly calibrated pro-ration factors, which include unfair premium hikes and cross-subsidisation issues.
Navigating the changes
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If you want to stay informed about changes that could potentially affect your health expenses, this podcast episode is a must-listen. It offers practical advice on how to navigate new insurance terms and conditions and manage your expectations about premium and benefit changes. You will also hear real-world examples of how these adjustments are unfolding and get tips on choosing an insurance plan that best suits your long-term needs.
Health insurance can be a maze of confusing terms and complex adjustments, but staying educated is vital for your financial well-being. WealthBT’s detailed analysis makes the subject approachable and comprehensible, ensuring you’re well-prepared for upcoming changes. Don’t miss this episode if you are a policyholder or contemplating an insurance plan.
Listen now to Genevieve Cua’s latest episode of WealthBT for the full conversation and expert insights on the changes to MediShield Life and Integrated Shield Plans that affect you.
WealthBT is a podcast of BT Correspondents. Look out for the next episode featuring correspondent Derryn Wong, and if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.
Written and hosted by: Genevieve Cua (gen@sph.com.sg)
With Alex Lee, president, Singapore Actuarial Society
Edited by: Emily Liu & Claressa Monteiro
Produced by: Genevieve Cua, Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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