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Name and Constituency of Member of Parliament
Dr Tan Wu Meng
MP for Jurong GRC
Question No. 280
To ask the Minister for Health (a) whether private insurers can be incentivised to offer riders for basic standard B1 Integrated Shield Plans to cover Singaporeans with pre-existing medical conditions; and (b) whether the Ministry will study the possibility of establishing a reinsurance risk pool across private insurers' basic standard B1 Integrated Shield Plans so as to lower premiums and facilitate extension of coverage to pre-existing medical conditions.
Oral Reply
1. MOH’s focus is to provide affordable basic health insurance to all Singaporeans. This is done through MediShield Life which offers adequate protection for the vast majority of subsidised patients. Its claim limits are sized to fully cover 90% of hospital bills for patients staying in B2/C class wards. MediShield Life also provides lifelong coverage for Singaporeans with pre-existing conditions. This is made possible by Government bearing most of the cost of extending MediShield Life coverage to these Singaporeans.
2. Like all Integrated Shield Plans (IPs), Standard IP is an optional private insurance. Currently, IP insurers are allowed to offer riders for coverage of pre-existing conditions. The premiums for these riders are set by the insurers based on commercial and actuarial considerations. As Government’s focus is on providing basic healthcare insurance for all Singaporeans through MediShield Life, we do not have any plans to incentivise insurers to offer such riders. We have to be prudent in extending subsidies and incentives beyond Medishield Life, as the cost increases will ultimately be borne by taxpayers.
3. On Dr Tan’s suggestion to establish a reinsurance risk pool, MOH will explore this proposal with the industry players. I thank the Member for his suggestion.