Friday, October 14, 2016

Increase in premium for integrated shield plans

A task force was formed to look into the increase in health insurance claims. It has recommended the following:

a) Do away with the rider that covers the deductible and co-insurance.
b) Set medical fee guidelines.

http://www.straitstimes.com/singapore/health/panel-suggests-doing-away-with-medical-insurance-riders

The task force also hinted that the premium for integrated plans will increase by 9% to 15% next year.

My advice to consumers is:
a) Do not buy the rider. It is too expensive and encourages escalation of hospital bills. Everybody pays.
b) Stick to Medishield Life. Do not buy the integrated shield plans.

You can watch my video at tankinlian.com/learn

1 comment:

Anonymous said...

NTUC agents or peddlers think otherwise. They think you MUST have riders and they think you MUST have the highest plan with the rider. Their motive is obvious.

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