One year freeze in top-up premiums for IP Plans covering Class B1 and A wards in public hospitals
The Life Insurance Association, LIA, says the five Integrated Shield Plan or IP insurers have pledged not to increase the top-up portion of premiums for plans covering Class B1 and A wards of public hospitals for one year following the implementation of MediShield Life.
This it says will allow for a smooth transition.
Thereafter, the IP insurers say they'll re-evaluate and re-assess plans based on actual experience.
For plans covering private hospitals, LIA says the IP insurers will take into account the effect of MediShield Life benefit enhancements, in addition to past claims experience, projected future medical inflation rate and claims usage.
LIA says the IP insurers will actively engage with policy-makers such as MOH, the healthcare industry and relevant organisations to combat medical inflation and better manage costs.
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