Regulating Pet Insurance Costs and Allowing MediSave Use for Veterinary Fees and Service Animal Care

Mr Patrick Tay Teck Guan asked the Minister for National Development (a) what is being done to regulate the cost of pet insurance; and (b) whether the Ministry will consider allowing pet owners to tap on a small portion of their MediSave for veterinary fees or premiums and with a higher amount for service animals.

Mr Chee Hong Tat: Pricing of pet insurance products is determined by insurers' actuarial and commercial considerations. There are no plans to regulate the cost of pet insurance nor allow the use of MediSave to pay veterinary fees or premiums.