(10-07-2014, 11:19 AM)CityFarmer Wrote: [ -> ]I am assuming no increase of premium for IPs, due to MedishieldLife. It is a rebalancing of premium between gov/CPF and private insurers, which is transparent to us.
If you're in your prime working age, the new MedishieldLife premium has already exceeded the existing private IP's premium (Class A/B1).
The article you've posted refers to insurers pledging not to increase the "Top-up" portion, not the overall IP premium. My point is that this "Top-up" premium should be reduced, now that MedishieldLife has taken over some of its previous coverage.
Someone wrote to TODAY voicing the same concern:
http://www.todayonline.com/voices/insure...ield-plans
(11-07-2014, 06:46 AM)lanoitar Wrote: [ -> ] (10-07-2014, 11:19 AM)CityFarmer Wrote: [ -> ]I am assuming no increase of premium for IPs, due to MedishieldLife. It is a rebalancing of premium between gov/CPF and private insurers, which is transparent to us.
If you're in your prime working age, the new MedishieldLife premium has already exceeded the existing private IP's premium (Class A/B1).
The article you've posted refers to insurers pledging not to increase the "Top-up" portion, not the overall IP premium. My point is that this "Top-up" premium should be reduced, now that MedishieldLife has taken over some of its previous coverage.
Someone wrote to TODAY voicing the same concern:
http://www.todayonline.com/voices/insure...ield-plans
I got your point, and I agree. Thanks
(11-07-2014, 12:29 AM)piggo Wrote: [ -> ]Today Wrote:pledged not to increase the top-up portion of premiums for plans that cover B1 and A Class wards in public hospitals for a year
Being ever the cynic... brace yourselves for increase in premiums from 2nd year onwards!
I am not surprised that the insurers will use this opportunity to increase premium after 1 year