With the introduction of the new Approved Cancer Drug List¹, cancer patients that receive off-label medication are required to pay upfront without being able to claim from their Integrated Shield Plans (IPs).
Off-label drugs are commonly used in the private healthcare sector, when standard treatments do not work.
Under the new ruling, insurers will not be able to pay for the treatment if the drug used does not fall in the approved list, and the cost of treatment may come up to $20,000 a month.²
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.
Zephanie has more than 10 years of experience (since 2010) in the financial industry, spanning compliance, product management, investment, risk management, mortgage loan, estate planning, financial planning and cyber-risk.
She holds Bsc in Commerce (Double Major in Finance & Management). She has attained IBF Qualified for Wealth Management (Priority Banking), ICA Advanced Certificate in Governance, Risk & Compliance) and a Qualifying Member of Million Dollar Round Table.
Her desire to bring financial hope and literacy, motivates her to remain relevant and useful in the ever-changing landscape.
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