Thanks to rising affluence and an ageing population.
This chart from CIMB Research shows that about two-thirds of Singapore’s resident population today has integrated shield plan (IP) coverage, up from 43% in 2006.
According to the Ministry of Health (MOH), IP coverage grew at a steady 6% CAGR over 2006-15, possibly driven by rising affluence and an ageing population.
In 2014, the percentage of those still without insurance coverage hit 6%. The figure disappeared in 2015.
“We believe a better insured population will help support demand for private healthcare services,” CIMB said.
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