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     FrontPage Edition: Sat 18 November 2006

More Medisave-Approved claims settled faster by insurers


Update on Service Indicators for Medisave-Approved

On 15th August 2006, MOH started to publish on a quarterly basis three insurance service indicators on Medisave-approved Integrated Plans:
i) Claims returns rate,
ii) Provision of letter of guarantee, and
iii) Absorption of costs for obtaining medical records.
The objective is to provide service data information to the public to support consumer choice and enhance market competition.
The latest quarterly update of these service indicators are provided in Annex A.
The claims return rate has improved across the board for all insurers and more policyholders are getting their claims settled much faster.
The median number of days taken to process claims has decreased by between one to ten days.
In addition, the percentage of claims processed within one week has increased by between 6% to 26%.
All these improvements will benefit policyholders as it would mean more timely reimbursements for medical expenses covered by insurance.
MOH will continue to facilitate greater disclosure and transparency so as to foster an efficient private medical insurance industry and improve the service standards of insurers.
More..... (Annex)

Source: Media Release 15 Nov 2006

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