Debated in Parliament on 7 Mar 2025.
Mr Yip Hon Weng asked the Minister for Health (a) whether the Ministry will consider working with MAS to further enhance consumer safeguards and transparency requirements for riders offered under Integrated Shield Plans, particularly in ensuring that policyholders are adequately informed of any changes in coverage and premiums; and (b) what measures are in place to monitor the impact of these changes on policyholders especially in terms of affordability and accessibility to necessary healthcare services.
The Member may refer to the oral reply in response to Parliamentary Question Nos 31 and 32 for the Sitting on 4 February 2025 for more details on the Ministry of Health's and the Monetary Authority of Singapore's disclosure requirements that apply to both Integrated Shield Plans (IPs) and Riders. [Please refer to "Insurers' Responsibility in Informing and Giving Adequate Notice to Policyholders for Changes in Coverage and Claims", Official Report, 4 February 2025, Vol 95, Issue 150, Written Answers to Questions for Oral Answer not Answered by End of Question Time section.]
As for the other query concerning the impact of these changes on the affordability and access to healthcare, the Member may wish to refer to the written reply in response to Parliamentary Question No 10 for the Sitting on 28 February 2025. [Please refer to "Effect of Changes to Integrated Shield Plans by Insurers on Policyholders' Out-of-pocket Expenses and Access to Healthcare Services", Official Report, 28 February 2025, Vol 95, Issue 155, Written Answers to Questions section.]
The Government's assurance to Singaporeans is the universal access to subsidised healthcare in public hospitals, which is supported by subsidies, MediShield Life, MediSave and MediFund, to ensure affordability. IPs and Riders are private commercial products that are sized for unsubsidised healthcare. Over-coverage, especially the low co-payment under Riders, have changed the dynamics between patients and doctors, resulting in over-servicing, over-consumption and escalating medical bills. Individuals should carefully assess whether the very high premiums of Riders are worth the coverage it offers for residual items like co-payment and deductibles. We have urged the insurance industry to take a hard look at their policy designs, to rein in the domino effect of over-coverage, escalating bills and higher premiums.
PAPERCUTS