pstrongspan style="font-size:11pt; font-variant:normal; white-space:pre-wrap"span style="font-family:Arial,sans-serif"span style="color:#000000"span style="font-weight:700"span style="font-style:normal"span style="text-decoration:none"With rising claims, insurers are barely profiting from health insurance.
“I checked the latest financial reports of insurance companies released just a couple of months ago. With escalating claims, insurance companies are hardly making profits on their health insurance portfolio,” said Ong Ye Kung, Minister For Health, at the Securities Investors Association ’s 25th Anniversary Members’ Night, last 12 July.
However, Integrated Shield Plans and riders offered by private insurers, which promise more comprehensive coverage, have led to increased healthcare costs and higher premiums.The review aims to raise MediShield Life claim limits to keep up with rising hospital and outpatient bills while controlling premium hikes.
The government is also urging private insurers to offer more sustainable policies and educate consumers on making informed choices about their insurance needs.
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