Policyholders have aired concerns over being unable to switch insurers due to pre-existing conditions.
SINGAPORE – A Ministry of Health study on the portability of private insurance plans across insurers could be completed in 2024, said Health Minister Ong Ye Kung on April 27.
An IP is a private medical insurance plan that provides additional coverage on top of MediShield Life coverage. Observers have said that if policyholders can transfer their IPs without losing coverage for pre-existing conditions, it could promote healthy competition among insurers and ensure that policyholders get a fair deal.a community mass brisk walk in Sembawang Central“What we observe... is that the insurance industry is not competing for this business,” he added.
Referencing the recent debate over private insurers limiting IP policyholders to doctors on designated panels to contain costs – which restricts patients and impacts private doctors not on the panels – Mr Ong said this is a “manifestation of a deeper problem”.
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