A Singapore Government Agency Website 

Why have my Integrated Shield Plan premiums increased?



Integrated Shield Plans (IPs) comprise 2 components – the MediShield Life and the additional private insurance coverage. Similarly, IP premiums have 2 components: a MediShield Life component, and an additional private insurance component.

The Ministry of Health sets the premiums for the MediShield Life component, and provides subsidies to keep MediShield Life premiums affordable. With the increase in MediShield Life premiums, the premiums for the MediShield Life component of IPs will be increased accordingly.

Premiums for the additional private insurance component of IPs are set, reviewed and adjusted by insurers based on commercial and actuarial considerations. Insurers may adjust premiums upwards or downwards taking into account the impact of the MediShield Life benefit changes, their own claims experience, medical inflation and other factors. Insurers have an incentive to keep premiums competitive, to attract and retain policyholders. Singaporeans concerned with the affordability of IP premiums may wish to consider switching to more affordable insurance options, in line with their preferences for hospitalisation coverage.

This information provided here is sourced from the MOH website.

Let other citizens know if this answer was helpful
Did this answer your question?

Can’t find what you’re looking for?