Understanding medical insurance premiums and why they are rising

AN ANALYSIS of long-term private medical insurance premiums by the Singapore Actuarial Society (SAS) has cast a spotlight on factors driving higher premiums, such as claims and distribution costs.

Integrated Shield Plans (IPs) and their accompanying riders account for 90 per cent of long-term private medical insurance.

SAS’ paper – How medical insurance premiums are spent and why they are rising – tackles each component of premium by turn. Industry data is based on returns filed by IP insurers with the Monetary Authority of Singapore (MAS).