Over 112,000 people in S'pore discontinued optional private health insurance riders in 2025 after rising premiums

Over 112,000 people discontinued their optional private health insurance add-ons in 2025 after policyholders faced rising premiums.

According to The Straits Times, 65,000 people dropped their Integrated Shield Plan (IP) riders in 2024; compared with 2025 figures, that is a 72 per cent increase.

Around 5.6 per cent of the 2 million-odd pool of IP rider policyholders quit in 2025, ST noted, citing figures they received.

Minister for Health and Coordinating Minister for Social Policies, Ong Ye Kung, said that as prices of IP and IP rider premiums rise, policyholders have downgraded or cancelled their plans in a September parliamentary reply, reported ST.

Downgrades and cancellations stood at 99,000 in 2023, 105,900 in 2024 and 128,200 in 2025.

Likewise for riders, the drop was 84,800 in 2023, 103,400 in 2024 and 181,800 in 2025.

What is an IP and its rider?

MediShield Life, the national healthcare insurance scheme, insures all Singaporeans across their lifetime, covering expenses such as hospitalisations and surgical procedures.

However, for those who want additional coverage, they can choose to purchase an IP.

An IP is an optional plan offered by a private insurer. It provides additional coverage for private wards and private healthcare institutions, according to MOH's website.

On top of the base IP, policyholders can buy riders.

Riders are optional add-ons to reduce out-of-pocket payments. They may also cover additional benefits with higher premiums.

Figures

An MOH spokesperson provided ST with a breakdown of rider figures, which revealed that for those who lowered their coverage, over 60 per cent stopped their riders while less than 40 per cent downgraded their policy.

For those who ceased purchasing riders, the numbers remained similar at 66,100 in 2023 and 65,000 in 2024, with a sharp increase to 112,300 in 2025.

Downgrades to lower-tier riders also rose from 18,700 in 2023 to 38,300 and 69,400 in 2025, reported ST.

In a parliamentary answer in May 2026, Member of Parliament for West Coast – Jurong West GRC, Hamid Razak, said that from December 2021 to December 2024, private hospital IP premiums and private hospital rider premiums have been rising at a yearly average of 8.6 per cent and 17.2 per cent, respectively.

The Ministry of Health (MOH) also noted in a forum reply that annual premiums can reach up to S$9,000 for a rider policyholder aged 70, and even higher when they get older.

Additionally, ST noted that annual rider premiums could triple when policyholders age from 50 to 70 years old.

ST added that IP policyholders with riders could pay around S$12,700 to S$22,700 depending on the insurer and IP coverage.

About 71 per cent of Singapore residents, approximately three million people, held IPs at the end of 2024.