S’pore private health insurance premiums on the rise as claims and costs tick up

SINGAPORE – Healthcare costs have been climbing in Singapore, driven by a higher volume of insurance claims. This, in turn, has pushed up premiums for private health insurance policies, a trend that looks set to continue.

Healthcare inflation picked up in the first seven months of 2022, with costs rising by 1.7 per cent year on year, data from July’s Consumer Price Index (CPI) report showed last Tuesday (Aug 23).