Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
Presented to you by Property Smart Investor- A Real Estate Online Education and Discussion

Monday, 29 June 2015

Integrated Plan (IP) insurers pledge not to raise premiums for first year of MediShield Life

Integrated Plan (IP) insurers pledge not to raise premiums for first year of MediShield Life

Integrated Plan (IP) insurers pledge not to raise premiums for first year of MediShield Life


Chairman Mr Bobby Chin (fourth from left) with members of the Medishield Life Review Committee, speaking during the press conference, held at the Suntec City Convention Centre on June 24, 2014.  -- PHOTO: ZAOBAO 

SINGAPORE - Private insurers have agreed not to raise premiums for their portion of Integrated Shield plans for at least 12 months after MediShield Life kicks in.
This means that any increase in premiums will be due to the bumping up of coverage when the existing MediShield is expanded to become MediShield Life.
Currently, premiums for private Integrated Shield (IP) plans come in two parts - a basic portion to pay for MediShield, and a "top-up" portion which pays for the extra perks such plans provide.
"This initiative reflects the life insurance industry's efforts to facilitate a smooth transition for IP policyholders during this period as the Ministry of Health (MOH) moves towards providing Singaporeans with healthcare coverage for life," the Life Insurance Association (LIA) said on Friday.
The association represents the five IP providers - AIA, Aviva, Great Eastern Life, NTUC Income, and Prudential.
However, the LIA said that while the increase in coverage from MediShield Life is expected to reduce the claims payout from the top-up portion, rising healthcare costs mean premiums are still likely to rise in the longer term.
On average, it said, IPs targeting either B1 or A-class public hospital wards have seen a 12 per cent increase in claims each year.
Meanwhile, plans targeting private hospital wards have seen a 17 per cent yearly increase in claims over the past few years
Published on Jun 26, 2015 1:06 PM
By Linette Lai
The Straits Times - Friday



Please click the following for other Related Readings:







Ng Teng Fong hospital set to open with Big Move

Alexandra Hospital closes for renovation; Ng Teng Fong General Hospital officially opens today

CapitaLand fulfils conditions to acquire Danga Bay land 

Ten industrial sites confirmed for tender

Taxman claws back millions in fraudulent PIC claims


DBSS flat owners at Trivelis may get goodwill package following slew of complaints 


Residents of DBSS project Pasir Ris One complain over flaws, lack of corridor space 

Pasir Ris One residents complain: Other DBSS projects that made headlines 

Comparing corridors across different public housing projects

Sales of 2 condos at Sentosa Cove raise hopes of rebound

Cycling through the Rail Corridor

AHPETC tells residents to pay overdue service fees

New tender for Sengkang temple site draws interest

Task force set up to tackle grouses of Centrale 8 residents

Bukit Panjang LRT system will be upgraded to boost reliability 

Corridors of discontent at Pasir Ris One

Freehold redevelopment site in Katong up for tender

33 Parklane basement units for sale



















Lakeside project launched in Iskandar

Developers face hefty extension charges over unsold units (Amended)

Govt releases new developer rules on show units, sales data

Changes to Housing Developers (Control and Licensing) Act effective May 25

Government releases EC site in Choa Chu Kang for sale



More companies buying strata offices

Bids for Paya Lebar site likely to top $1b - Government Land Sale (GLS)

PLEASE CLICK ON FOLLOWING IMAGES FOR RELATED READINGS




No comments:

Post a Comment