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The Cancer Drug List, Should You Be Concerned?

The End of The Medical Buffet

With a stroke of the pen by 1st September 2022, Singaporeans who have been used to the notion that their hospitalisation plans will cover for “everything” will awake to a different reality.

Pursuant to the recent announcements by the Ministry of Health (MOH) in bid to manage medical inflation, Insurance can only cover effective as well as cost effective drugs or treatments on a newly created “Cancer Drug List.”

These changes will take effect under Medishield Life from September 2022 and subsequently on April 2023 for the Integrated Shield Plans most of us in Singapore have.

How Does This Impact Us?

  • IP Insurers will not be allowed to continue covering patients on treatments not on the List.
  • Claim amounts will be revised within a range of $200 to $9,600 a month instead of a fixed limit.

Change Is the Only Constant

While our policymakers are likely doing their best to avoid going the direction of healthcare in the US in a highest bidder takes all system, the fact that goalposts CAN, and DO shift isn’t comforting.

It was barely in April 2021 where mandatory Co-Payments on Hospitalisations became a reality; it’s anybody’s guess as to what future policy changes may bring.

While we are constantly reassured that such changes will benefit the majority, altruism aside, there remain examples of people that fall through the cracks.

In the space of Independent Financial Advisory at Pinnacle Wealth, we are not here to manage probabilities; we aim to manage consequences.

What Can We Do?

  1. Take Stock of Your Current Protection Portfolio
  2. Evaluate Your Employee benefits and Flexi Plans and Check If Portable
  3. Consider Cancer Specific Plans or Critical Illness Plans to Make Up the Gap, such changes need not break the Bank.

Feel free to reach out if you wish to have a second opinion, or just have a coffee over Zoom and I’ll be happy to reach back.

Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek independent financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

Published By:

Christina Ang

Having personally experienced the importance of financial and estate planning, Christina is deeply committed to providing holistic, fee-based financial advice tailored to her clients’ best interests. She specializes in analyzing family portfolios, optimizing every hard-earned dollar, and helping clients achieve their financial aspirations.

Christina’s practice is built entirely on referrals—a testament to her professionalism and dedication. Beyond serving clients, she is on a mission to Mentor, Empower, and Equip a new generation of financial advisers. Through a proven, step-by-step coaching methodology, she guides advisers in delivering unbiased financial advice, mastering referral-based client acquisition, and fostering long-term trust—raising the bar for professionalism in the industry.

As a leader of one of the most Productive and Passionate Teams at Financial Alliance, Christina balances her career with the joy of raising her children and sharing meaningful conversations over coffee with friends and clients. After all, financial advisory is a business by people, for people.

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根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

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  • 我已阅读并理解鑫盟理财私人有限公司的个人数据保护政策，并同意鑫盟理财私人有限公司根据个人数据保护政策所阐述的用途使用我的个人资料。
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  • 鑫盟理财私人有限公司的代表或员工并未直接与我联系或提出要约或招揽购买我原居住国境内所不提供的任何金融产品.
  • Financial Alliance Pte Ltd ( “FAPL”) is licensed by the Monetary Authority of Singapore (“MAS”) and allowed to conduct financial advisory activities in accordance with the Financial Advisers Act (Cap. 110) (“FAA”) and the Securities & Futures Act (Cap. 289) (“SFA”) within the jurisdiction of the Republic of Singapore and in accordance with the licenses granted by MAS
  • 鑫盟理财私人有限公司( “鑫盟理财”)持有由新加坡金融管理局(“MAS”)所颁发的牌照，并许可在新加坡共和国境内依据财务顾问法（第110章）和证券与期货交易法（第289章）进行财务咨询等相关业务
  • Any services provided by FAPL to persons not ordinarily resident in Singapore are provided solely on an offshore basis from Singapore, resulting from direct enquiry on the part of the foreign residents.
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  • As an integral part of the provision of such services, FAPL may from time to time make available to such residents, documents and information making reference to capital markets products (for example, in connection with the provision of fund management or investment advisory services outside of the foreign jurisdiction).
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  • Such documents and information are provided by Financial Alliance Pte Ltd (“FAPL”) is for general information only and is not intended for anyone other than the recipient.
  • 此类由鑫盟理财所提供的文件和信息仅供收件人做一般信息参考。
  • It does not take into account the specific investment objectives, financial situation or particular needs of any particular person.
  • 此类文件和信息不会把-个人投资目标，财务状况或其特定需求等考虑在内。
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  • These documents may not be published, circulated, reproduced or distributed in whole or in part to any other person without FAPL’s prior written consent.
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  • You shall ensure that you have and will continue to be fully compliant with all applicable laws in your home country when entering into discussion or contracts with FAPL.
  • 在与鑫盟理财进行讨论或签订合约时，您应确保您已完全遵守并将继续遵守您所在原居住国的所有适用法律及条规。

In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.

根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.

提交此表格，即表示您已阅读并理解鑫盟理财私人有限公司的个人数据政策