The head of the Australian Medical Association (AMA) has railed out against the numerous health insurance policies being sold in the country.
"There is a bewildering number of policies, and it worries us that this might be quite deliberate," said AMA President Michael Gannon in a speech to the National Press Club earlier this week. “The truth is there are literally thousands and thousands of different types of policies."
http://www.fisca.sg/ArticleDisplay.aspx?ID=508&Name=Australia:-Doctors-query-thousands-of-types-of-health-policies&View=A
MY COMMENT
Does this observation apply to Singapore?
Although we do not have as many different types as Australia, we also have many types of policies that are confusing to the consumer. There is a need for the regulator to standardise the policy covers, terms and terminology.
Insurers should declare if the policy follow a standard, and if no, how do they differ from the standard cover.
"There is a bewildering number of policies, and it worries us that this might be quite deliberate," said AMA President Michael Gannon in a speech to the National Press Club earlier this week. “The truth is there are literally thousands and thousands of different types of policies."
http://www.fisca.sg/ArticleDisplay.aspx?ID=508&Name=Australia:-Doctors-query-thousands-of-types-of-health-policies&View=A
MY COMMENT
Does this observation apply to Singapore?
Although we do not have as many different types as Australia, we also have many types of policies that are confusing to the consumer. There is a need for the regulator to standardise the policy covers, terms and terminology.
Insurers should declare if the policy follow a standard, and if no, how do they differ from the standard cover.
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