Premiums in top-up portion of Integrated Shield Plans will not increase for 1 year after MediShield Life
Published on Jul 9, 2014 11:28 AM
SINGAPORE - Premiums in the top-up portion of the Integrated Shield Plan for ward classes B1 and A in public hospitals will not increase for a year after MediShield Life is implemented, the Life Insurance Association (LIA) said on Wednesday.
LIA president Dr Khoo Kah Siang said the five Integrated Shield Plan (IP) insurers are committed to not increasing the top-up portion of premiums for plans covering those two classes.
"This will allow for a smooth transition as all renewals of these IPs during the one-year period will see no increase in the premiums for the top-up portion," he said.
Insurers will re-examine the plans thereafter to ensure that top-up benefits remain relevant in meeting the needs of Singapore residents, he added.
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