Deep Dive More isn’t necessarily better when it comes to private health insurance: Ong Ye Kung
Oct 17, 2025
Ong Ye Kung, Singapore's Minister for Health, dives into the complexities of private health insurance. He explains how overly generous insurance riders have led to unnecessary tests and rising costs. Ong advocates for innovative insurance designs that promote lower premiums and responsible usage. He also highlights government plans to benchmark hospital charges to ensure fairness and reduce commercial pressures. With insights on the impact of private insurance on public healthcare, Ong provides practical advice for young Singaporeans navigating their options.
AI Snips
Chapters
Transcript
Episode notes
Riders Drive Overuse And Escalating Claims
- Generous private insurance riders created perverse incentives that increase tests, length of stay and overall claims.
- Riders make claimants 1.5× more likely to claim and produce bills 1.5× larger, compounding costs and insurer losses.
Insurer Reactions Feed The Distortion
- Insurers respond to rising claims by raising premiums or adding controls, which angers doctors and patients.
- These reactions further distort the market and push costs onto consumers via steep premium hikes.
Peace Of Mind Became Unsustainable
- Consumers want peace of mind but market design turned that desire into expensive, unsustainable coverage.
- Many people bought riders but later dropped them when premiums escalated, showing the product no longer serves needs.