Huge increment in medical insurance

[abbby]

There's a sudden huge increase in medical insurance on my renewal.

Any ideas how to get maximum private medical coverage but cheaper premium and rider ?

The increase is massive...

[Max Headroom]

How much more? Which company? Did they say why?

[abbby]

Overall government initiative I guess, to allow insurers to increase premiums as they feel the claims in recent years have increased. Then I would think the increment should only reflect on those who keeps claiming...And not punish everyone. NTUC income..

[shuwei]

yeah quite common this cycle... medical inflation (projected to hit a record 16.9% in 2026) + repricing across insurers.

I’m an agent too — even I adjusted my parents’ plans recently to rebalance cost vs coverage.

newer plans = cheaper but reduced benefits vs older ones

at the end of the day, newer plans in the market are generally cheaper, but they also come with reduced coverage compared to earlier generations of plans — so it’s really about finding the right balance for yourself.

happy to share more too if you would want to review your coverages in Singapore!

[Max Headroom]

I see.

What about that recent development on this front? Read something in the ST about insurance fees going down, actually.

[PNGMK]

Mine is up by about 33% for a GE IP plan (best one). 3.5k

Saying that they've spent over 140k on me in the last 4 yr