A massive piece of news enveloped the private health insurance industry just before the Chinese New Year. It was reported by the Straits Times that several private insurers are moving existing integrated shield plans (‘IP’) that comes with full riders towards IP with co-payment features upon their respective policy renewals. This pivot by the private insurers is welcomed by the Health Insurance Task Force as it has recommended them to include co-insurance, deductible features in their products to ensure consumers have skin in the game to rein in rising healthcare costs.


Judging from how fast premiums have been rising 30% to 40% in the past 2 years (even for a child!), I was not surprised that the replacement of full riders on existing shield plans have occurred. What surprised me more was just how soon this change came about, considering the timeline of events: