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Despite Singapore’s high standard of healthcare, the cost remains very high. Thus, the recommendation is to cover yourself so that if the worst cases scenario emerges, you won’t be haemorrhaging money on extensive medical procedures, tests and hospital bills. Of course, this depends entirely on your circumstances – if your organisation already provides you with enough health insurance coverage, or your home country has policies that cover international claims, getting additional health insurance in Singapore may not be necessary. However, scenarios may arise where you feel you need additional coverage from private insurers, for example:
A major thing to bear in mind is that Singaporean healthcare is generally expensive for expats as they do not qualify for the same level of public healthcare subsidies that are provided to locals or PRs. So, with this in mind, what kind of health insurance do expats qualify for?
It depends on your work status:
The main thing you want to look for is Private Health Insurance. Private insurers can provide health insurance plans for expats who want to take out a new policy, or to supplement their existing coverage.
|Insurance Plan||Best For|
|AIA HealthShield Gold Max (Foreigners)||Maximum Annual Coverage||Apply Now|
|Great Eastern SupremeHealth (Foreigners)||Pre and Post Hospitalisation Expenses||Apply Now|
|NTUC IncomeShield (Foreigners)||Emergency Hospital Treatment Overseas||Apply Now|
There are 2 main types of Private Health Insurance available to expats: Local Health Insurance and International Health Insurance. So what is the difference?
Costs are dependent on age, thus there is a range. Non-smoking 45-year-old individuals on a Singaporean Integrated Shield Plan may expect to pay around $132, whereas the average cost for 75-year-olds can range between $69 to $1,063 (this is before any MediSave contributions and are also not inclusive of MediShield Life premiums or Medisave contributions). Cost is also affected by any riders that have been purchased alongside the Health Insurance Plan.
Assessing whether a local or international health insurance policy is the best for you can be challenging as both have their advantages and disadvantages. A big factor is determining what lifestyle you are likely to follow, for example:
It can be overwhelming looking at all the wide array of benefits that are offered in different health insurance plans. When choosing your plan, you should evaluate which benefits are the most applicable to your lifestyle, and will also meet your needs.
It is also recommended to check the riders available as they can help to increase your coverage and/or lower your out-of-pocket costs. This includes things such as claiming back deductibles and any co-insurance policies.
Use ROSHI to compare Health Insurance Plans to find the one that is best suited for you in terms of price and coverage.
Yes, there are private insurers that can provide medical insurance to expats.
Using statistics for non-smoking 45-year-olds, the cost averages out around $132. It comes as a part of an Integrated Shield Plan that also includes a B1 ward, but does not cover MediShield Life premiums or Medisave contributions.
Whether you plan to stay or move back overseas in the future, it is advisable to get health insurance coverage just in case something major occurs. As an additional convenience, health insurance can also be cancelled anytime so you don’t have to be “tied-in” after you leave.
It is recommended for working adults in Singapore to cover the following areas in their policy order to ensure maximum coverage: Life insurance, Health Insurance, Accident Insurance, Critical Illness Insurance and Income Disability Insurance.
Maybe not – it all depends on the extent of coverage provided by your organisation. Make sure you read the scope of the policy, and if you think that the coverage is insufficient, you can always take out additional insurance to cover the gaps.
No, expats are not eligible for MediShield Life as it is exclusive to Singaporeans and PRs.