As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Thursday, 8 March 2018

5% co-payment for new Integrated Shield Plan riders to help address over-consumption of medical services

Updated with two charts contribution from Raymond Ng. Thank you!

Medishield Life Cost vs GE Platinum P+ Premium

Co-payment is the right move!

Personal reason here!

Frugal even when one is sick and that is frugal at its best. No?

Read? Medical Bill Shock???


  1. Govt & MOH had been looking at 100% riders since 2014/2015.

    Writing was on the wall for those with eyes to see ... unsustainable moral hazard behavior on both consumers & doctors/hospitals... leading to "mal-treatments" as consumers want "best of the best" while doctors/hospitals want maximum profits.

    Insurers simply pass on the cost to consumers ... inflation in medical costs leading to inflation in H&S and rider premiums ... govt also having to cover higher subsidies for C & B2 patients.

    Premiums for such 100% riders had been increasing 20%-30% yearly .... some are even having 80% increase in 2018...

    Govt had been hoping for insurance industry to self-regulate ... but when $$$$$$ is involved very hard lah .... so now govt has to intervene .... but still panchan the businesses ... only 5% and a low cap of $3K annual

    Will slowly increase in the years ahead...

  2. All IP premium has a fine print .... they can change their premium as and when necessary to cover their cost.

    So, we can expect that the future premium will rise even though we're existing customers.

    This premium may eat into your retirement cashflow.

    If you're retire and the premium

  3. CW,

    Something about "free" that messes with our minds.

    Free miles, free cashbacks, free medical treatments!

    "Free" only when you continue to "spend" on the annual medical insurance premiums ;)

    Its not a lot when we below 50. But come our 50s to 60s, quite a few will have a price ticket shock!

    Being kiasu Singaporeans, since already paid so much for "free", when finally got chance to make medical claims, spare no expense!

    Then complain why premiums keep increasing every year?

    1. I find it amusing when friends working inside the industry complaining the increased premiums and co payment thing, mind you, they are not fresh by the way. Haha.


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