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Can claim-based insurance lower healthcare costs?
New policies reward customers who stay healthy and those who seek treatment at public hospitals
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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
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.
