Singapore: Health insurers introduce initiatives amid implementation of Cancer Drug List

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The Life Insurance Association, Singapore (LIA Singapore) has announced that all seven insurers offering Integrated Shield Plans (IPs) will implement key initiatives to provide additional support for IP policyholders amid implementation of the Cancer Drug List (CDL) by the Ministry of Health (MOH).

These initiatives will contribute toward greater affordability of cancer treatments for Singapore residents in the longer term, the LIA Singapore says in a statement.  

The CDL was developed following recommendations of the MediShield Life Council. The List comprises clinically proven and more cost-effective cancer treatments that are claimable under the government-run health insurance scheme MediShield Life and the personal health savings scheme MediSave, and the corresponding limits. This has been implemented from 1 September 2022.

The CDL for IPs will take effect for new IP policyholders who make a purchase from 1 April 2023 onwards. For existing IP policyholders, the CDL will take effect from their respective policy renewal dates on or after 1 April 2023.  An IP is an optional health insurance policy that combines the government-run MediShield Life plan as well as health coverage provided by private insurance companies.

Key initiatives by IP insurers to support IP policyholders during this transition are:   

  • Keeping premium rates for IPs steady from 2 September 2022 to 31 August 2024. This will only apply to IPs, but not IP riders.

  • Providing transitional support for patients with IPs until 30 September 2023 whose IPs are to be renewed between 1 April 2023 and 30 September 2023, and are on a course of cancer drug treatments as of 31 March 2023. This will provide them more time to consider treatment options and adjust to the changes.

  • Offering consumers the choice of getting coverage beyond the CDL through optional IP riders from 1 April 2023.

Mr Khor Hock Seng, LIA Singapore president, said, “We hope that these initiatives will provide IP policyholders with the support and assurance they should have amid this transition period from their IP insurers.

“As we look to the longer-term, we recognis...

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