Singapore’s Central Provident Fund (CPF) Board and the Ministry of Health (MOH) have introduced the Health Insurance Planner (HIP), an innovative digital tool designed to help citizens make informed decisions about their health insurance coverage. The HIP aims to simplify the complexities of healthcare insurance by providing personalised insights into long-term costs and benefits.

Singapore’s healthcare insurance system comprises three key tiers. The foundational tier is MediShield Life, a universal and lifelong health insurance plan covering large hospitalisation expenses and specific outpatient treatments, with premiums fully payable through MediSave.

Additionally, around 70% of Singaporeans opt for Integrated Shield Plans (IPs) provided by private insurers. These plans extend coverage to private hospitals or non-subsidised wards in public hospitals, with premiums partially payable using MediSave, subject to annual limits. Some individuals also choose to enhance their coverage by purchasing riders, which reduce out-of-pocket costs but must be paid for in cash.

Navigating healthcare insurance options can be complex. The HIP simplifies this with a forward-looking, user-friendly platform that helps individuals assess their coverage choices. The tool provides personalised projections, allowing users to visualise their long-term MediSave savings and health insurance premium estimates, enabling them to plan effectively for future expenses.

It also allows users to compare the benefits, features and costs of different IPs based on their preferred hospital ward type. Additionally, it projects up to 30 years of premium costs for selected IPs and riders, helping individuals anticipate their future financial commitments.

The Life Insurance Association Singapore (LIA) and the Insurance and Financial Practitioners Association of Singapore (IFPAS) are working with the MOH and CPF Board to promote public awareness of the HIP.

This initiative complements existing resources, such as the MOH’s comparison platform for IPs, which helps Singaporeans assess different insurance offerings. These organisations raise awareness to help individuals make informed health insurance decisions.

The HIP is accessible via the CPF website using Singpass and can be completed in a few steps. To use t...