MediShield Life Integrated Shield Plans premiums rise as claims mount

Claims, especially for private hospital Integrated Shield Plans (IPs), have seen big annual increase, so these are the plans that will likely face the biggest premium hikes.
Claims, especially for private hospital Integrated Shield Plans (IPs), have seen big annual increase, so these are the plans that will likely face the biggest premium hikes.PHOTO: ST FILE

More hikes likely despite some premiums having more than doubled over five years

The Government may have stepped in earlier this year to make healthcare insurance more sustainable, but spiralling premiums for MediShield Life Integrated Shield Plans (IPs) show that the sector is still under stress.

The premiums have more than doubled over a five-year period in some cases as insurers groan under the stress of mounting claims.

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A version of this article appeared in the print edition of The Straits Times on August 23, 2018, with the headline 'IP premiums rise as claims mount'. Print Edition | Subscribe