Insurance
Existing Integrated Shield Plans With Full Insurance Riders Are Being Replaced
By Heartland Boy  •  March 7, 2021
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. SUMMARY OF EVENTS 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:...
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By Heartland Boy
Heartland Boy is a young working adult who pretends to be competent in the real estate industry despite graduating with only a Business Management degree. Outside of work, he analyses stocks, reits and property for investment to build passive income. He is also a stickler for all things that represent value-for-money.
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