Debate on ministries' budgets

MOH move will help curb huge premium increases

Having co-payment for riders helps consumers play active role in choice of treatment: LIA

The move to disallow further sale of full riders for Integrated Shield Plans will help insurers manage claims, reduce the need for significant premium increases and allow IPs and riders to remain viable and sustainable options, said the Life Insuranc
The move to disallow further sale of full riders for Integrated Shield Plans will help insurers manage claims, reduce the need for significant premium increases and allow IPs and riders to remain viable and sustainable options, said the Life Insurance Association of Singapore. ST PHOTO: ALVIN HO
New: Gift this subscriber-only story to your friends and family

Significant premium increases may be a thing of the past following the Ministry of Health's decision to disallow further sale of full riders for Integrated Shield Plans (IPs), a move that is set to benefit both consumers and insurers.

In a statement yesterday, the Life Insurance Association of Singapore (LIA), which represents all six insurers offering IPs, said it believes having patients pay a part of the bill would "encourage consumers to play an active role in choosing their medical providers and treatments".

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.

A version of this article appeared in the print edition of The Straits Times on March 08, 2018, with the headline MOH move will help curb huge premium increases. Subscribe