More residents expected to downgrade private health insurance policies as premiums go up

Market watchers expect more Singaporeans, especially those above 60 and who are retired, to downgrade their private health insurance plans. They say this is because premiums of Integrated Shield Plans (IPs) could increase from next month, in line with updates to MediShield Life. The Health Ministry says the proportion of residents owning any type of IPs has declined slightly among older ages, falling by 2.2 per cent from 2020 to 2023. Nasyrah Rohim with this report.