People insured under private plans (i.e. Integrated Shield plans) should be prepared for large increase in premium in the coming years.
The increase will be very steep for elderly people, above 60 years.
They will have to pay these large increases in premium, even if they do not make any claim.
Here are two main causes for the expected inceases:
a) Private hospital charges are very expensive. The large claims paid by the insurance companies will have to be borne by all the policyholders through higher premiums.
http://www.fisca.sg/ArticleDisplay.aspx?ID=531&Name=Be-prepared-for-higher-premiums-under-Integrated-Plans&Type=H
b) Private hospitals are charging high fees even for simple tests and treatments. These fees are paid by the insurance companies under the Integrated Shield plans. They will be reflected in the future premiums.
http://www.fisca.sg/ArticleDisplay.aspx?ID=537&Name=Overcharging-of-medical-fees&Type=H
Be prepared to see the large increase in premium. If yo cannot afford the high premiums, you can revert to Medishield Life.
By that time, I hope that you still have enough savings in your Medisave account. Do not let it be wiped out through the high premiums that you have paid for the Integrated plans.
The increase will be very steep for elderly people, above 60 years.
They will have to pay these large increases in premium, even if they do not make any claim.
Here are two main causes for the expected inceases:
a) Private hospital charges are very expensive. The large claims paid by the insurance companies will have to be borne by all the policyholders through higher premiums.
http://www.fisca.sg/ArticleDisplay.aspx?ID=531&Name=Be-prepared-for-higher-premiums-under-Integrated-Plans&Type=H
b) Private hospitals are charging high fees even for simple tests and treatments. These fees are paid by the insurance companies under the Integrated Shield plans. They will be reflected in the future premiums.
http://www.fisca.sg/ArticleDisplay.aspx?ID=537&Name=Overcharging-of-medical-fees&Type=H
Be prepared to see the large increase in premium. If yo cannot afford the high premiums, you can revert to Medishield Life.
By that time, I hope that you still have enough savings in your Medisave account. Do not let it be wiped out through the high premiums that you have paid for the Integrated plans.
No comments:
Post a Comment