Is your medical insurance policy keeping up with inflation?

By Tan Hui Leng, TODAY | Posted: 20 March 2007 1356 hrs

Don't like the heftier numbers on your hospital bill? Blame the economy. Apparently, it is doing too well.

Almost every hospital in Singapore has raised its charges — admittedly by just a handful of dollars. As the demand for healthcare professionals rises with the improving economy, hospitals' manpower costs are going up.

Noting that the majority of healthcare costs goes to human resource, National University of Singapore health economist Associate Professor Phua Kai Hong said: "Every time there is a wage increase, the first to be affected is healthcare because there are many qualified specialists there and you need to keep them from moving to the private sector."

It is not the specialists alone that are benefiting. Nurses have been asked to shoulder some of the responsibilities of junior doctors. But this came with a demand for better benefits, and they recently got a pay hike.

Is your medical insurance policy keeping up with inflation?

What do you look for in a medical insurance policy? What are the key factors you should consider? Are your medical plans “as charged” or is it still room and board charges?

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