COSTS: WHAT TO KNOW
10 Jul 2026 11:59AM
Hospital bills can add up quickly. Integrated Shield Plan riders can help reduce out-of-pocket expenses and provide greater financial certainty in difficult times.
Between work, family and daily responsibilities, getting sick or injured can be disruptive to both our personal and professional lives. Healthcare costs are also a common concern and, in many cases, may stop people from getting the treatment they need. A 2025 Economist Impact report commissioned by Prudential found that eight in 10 people in Singapore had delayed seeking medical care in the past year. Some prioritised work, while others did not want to burden their families financially or as caregivers. Around six in 10 respondents also worried if they could afford care, while about half said their medical bills were higher than expected – adding to the stress at a time when the focus should be on recovery. Purchasing private health insurance on top of the national MediShield Life scheme through Integrated Shield Plans (IPs) can help reduce cost anxiety, especially for those seeking treatment in higher-class wards or private hospitals. About 71 per cent of Singapore residents, or 3 million people, have IPs. Of these, 67 per cent have added IP riders to supplement their main plan and further reduce out-of-pocket expenses. However, broader coverage typically comes with higher premiums, and the sizeable take-up rate of IP riders has coincided with overuse of medical services and rising healthcare costs. As Singapore’s population ages and new medical advances emerge, it is crucial to address this issue. Recent changes to IP riders aim to balance protection with long-term affordability, helping to keep private healthcare coverage sustainable and accessible.
