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MIND THE GAP

Integrated Shield Plans: Taking stock of need vs affordability

IPs suffered years of losses prior to 2019, but a wave of measures raised expectations that they would get on a sounder financial footing

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Genevieve Cua

Genevieve Cua

Published Mon, Aug 12, 2024 · 05:00 AM
    • The government has raised concerns about "overly generous insurance policy design" which leads to bigger bills and higher premiums. Around 2 per cent of seniors have given up their Integrated Shield plans.
    • The government has raised concerns about "overly generous insurance policy design" which leads to bigger bills and higher premiums. Around 2 per cent of seniors have given up their Integrated Shield plans. PHOTO: BT FILE

    IF YOU feel premium fatigue when it comes to your Integrated Shield Plan (IP), you are surely not alone.

    The two-year moratorium on premium increases comes to an end this month. Most insurers I got in touch with were vague on the question of whether they are raising premiums.

    The exceptions are Income Insurance and Singlife. Income says premiums will rise from September, “as we are rolling out enhanced coverage” for base IPs and riders.

    Mind the GapInsuranceHealthcare

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