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Making sense of Integrated Shield Plans’ premium hikes

Ageing demographics and medical cost inflation are some reasons for the increase

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Genevieve Cua

Genevieve Cua

Published Wed, Sep 4, 2024 · 06:42 PM
    • If one has a private hospital Integrated Shield Plan, it may be wise to continue to maintain a rider, especially for enhanced cancer benefits.
    • If one has a private hospital Integrated Shield Plan, it may be wise to continue to maintain a rider, especially for enhanced cancer benefits. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    THE bad news that policyholders of Integrated Shield Plans (IPs) had been bracing for has come to pass. Between September and October, five insurers will raise IP premiums – mainly for private hospital plans and mostly in double digits.

    The five are AIA, Singlife, Income Insurance, Great Eastern and Prudential.

    Income Insurance, however, is raising premiums across all ward types. For restructured hospital plans, this is the first hike in nine years. It has enhanced cancer benefits for private hospital and Class A plans and riders.

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