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SINGAPORE: Incomeshield policyholders will get some help from the insurer to cope with premium increases.
From December 1, Medishield premiums have been adjusted to match an increase in benefits for Singaporeans. NTUC Incomeshield premiums went up by an average of less than S$2.50 a month.
Income is launching a S$6 million assistance scheme to help lower income and elderly patients whose finances are affected by the economic downturn.
This year-long assistance scheme will benefit some 77,000 policyholders, most of whom hold plans pegged to the B and C class wards in restructured hospitals.
Existing Incomeshield policyholders below 61 years old will have their monthly premium increase capped at S$5 or S$10, depending on the wards their plans are pegged to.
Those 61 and above whose plans are pegged to the C-class ward will enjoy annual subsidies ranging from S$55 to S$211, depending on the plans they hold.
- CNA/yb
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