Can claim-based insurance lower healthcare costs?

New policies reward customers who stay healthy and those who seek treatment at public hospitals

The new plans offered by Prudential Singapore, Great Eastern and AIA Singapore are tailored to encourage policyholders to not only stay healthy, but also to pick hospitals known to have more reasonable fees. ST PHOTO: TIMOTHY DAVID
New: Gift this subscriber-only story to your friends and family

Three leading insurers are now selling a new kind of policy that may change the behaviour of their customers and reduce high medical costs from private hospitals that make up the bulk of patient bills.

Their aim is to make customers acutely aware of their hospital choice right from the start; it is too late once claims are submitted as insurers have no say in how doctors and hospitals treat and charge patients.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.