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

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".

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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