Singapore trade body calls for curbs on medical care costs
Life Insurance Association of Singapore has called again for greater transparency on local healthcare provision in an industry response to the Singapore Medical Association (SMA)'s statement on Integrated Shield Plans (IPs).
LIA Singapore said in its statement that the responsibility of all parties involved was to be "proactive and work collaboratively to ensure the continued accessibility of quality healthcare in Singapore".
The trade body added that it had requested for clinical quality measures and guidelines to prevent over-treatment on numerous occasions: "We ask that SMA respond promptly and positively on this."
We agree that greater transparency will provide more clarity on this matter."
Integrated Shield Plans (IPs) impact most Singaporeans and IP insurers have been implementing
various measures to manage IP costs appropriately and without compromising needed medical care
for policyholders, it said.
The main objective of the recommendations put forward by the Health Insurance Task Force in 20161 was to bring down the rate of claims cost inflation so that premium increases can be moderated and kept sustainable. All recommendations by the Task Force have since been implemented.
"We agree that greater transparency will provide more clarity on this matter. We recently concluded an update of the LIA Singapore guidelines on panel management. This includes guidance that IP insurers should explain the criteria for selection of panel doctors and is publicly available on the LIA Singapore website."
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