Insuring Your Health & Wellness: The 4 Different Types of Insurance Plans in Singapore


Taking care of your health and wellness is important. Exercising, eating a balanced diet and getting regular health check-ups are all on track towards keeping yourself in the pink of health. However, even though no one plans to fall sick or get hurt, many people often require medical assistance at some point. This is where the importance of having a good insurance coverage plan kicks in, especially in Singapore where medical costs can be high.

Insuring your health and wellness is imperative – and expats living and working here can do so by looking into individual insurance plans beyond the employee group health insurance cover provided by companies in Singapore. Finding the right coverage can be challenging with so many options available in the market – the Expat Insurance team is here to help.

As the leading insurance broker for the expat community in Singapore, we are experienced in designing comprehensive employee, individual and group health insurance plans. Our team is also committed to delivering trusted advice and protection for our globally mobile individuals.

Take a look at our guide to the 4 different types of health and wellness insurance plans that you should look into if you live in Singapore. For more information on health insurance services, contact our team today.

Basic Health Coverage For Expat PRs & Singapore Citizens

The healthcare standards in Singapore are one of the highest in the world, which also translates to it being one of the priciest in the world. Locals may receive some aid in offsetting medical bills through government subsidies, but many of them still have some form of insurance in place – whether it is an employee benefit based or individual health insurance.

For instance, all Singaporean citizens and permanent residents are enrolled in MediShield Life, which is a basic national health insurance scheme that helps them offset some of their larger hospital medical bills and a regulated amount of expensive outpatient treatments.

Expats without a Permanent Resident status in Singapore are thus highly encouraged to take up a personal health or life insurance plan on top of their existing employee benefit health insurance plans. To protect their health and wellness, globally mobile expats need to consider several factors in determining the right type of insurance scheme in Singapore:

  1. Does the insurance plan cover possible medical emergencies that may occur abroad?
  2. Is the plan portable?
  3. What are the extended benefits offered in the current country of residence?
  4. Does it offer options for pre-existing conditions?

Unsure about the insurance plans offered? To understand more about the different policies and schemes recommended, contact our team today to schedule an appointment.

Group Or Employee Based Health Insurance

If you are new to Singapore and are here for work, it is highly likely that the company you work for provides an employee benefits package that covers some basic health insurance as well. Most companies understand the need to provide an attractive employee benefits package – complete with annual leaves, health insurance, the flexibility to work from home and childcare leaves for those who are here with families.

When you arrive in Singapore for work, it is imperative that you go over the health insurance plan and the benefits it provides. In insuring your health and wellness, you want to ensure that the insurance plan provided by the company in Singapore sufficiently covers your needs.

  1. Is the plan an individual or group health insurance?
  2. Does the plan preclude claims for pre-existing medical conditions?
  3. What are the wellness or outpatient benefits?
  4. Does it cover internationally or just locally in Singapore?
  5. Are there dental or maternity coverage options?

Understanding what your employee or group health insurance covers can be instrumental in helping you and your family plan your finances as you make a living in Singapore.

If you are a company looking to upgrade or revamp your employee benefit packages with more comprehensive health insurance policies and wellness initiatives, drop us a line on our page.

Personal Health & Wellness – Individual Insurance in Singapore

So the company you work with has a group health insurance in place – is this sufficient coverage for you, living in Singapore? Most, if not all, companies provide some form of employee benefit in the form of health insurance here, however, it is important to evaluate if the coverage is adequate.

For the benefit of your overall health and wellness, many expert insurers will advise getting additional health insurance independent of the employee benefit program or group health insurance provided by your employers in Singapore.

There are numerous benefits that come with buying personal health insurance. With a personal hospital and surgical insurance plan, you get a higher amount of coverage and access to top-quality healthcare services, without making a huge dent in your wallet. Expats are encouraged to check on the extent to which their healthcare policies back home cover them when overseas as they make a decision. Buying multiple health insurance plans can be costly, so the considerations must be taken in carefully:

  1. Where does this plan cover me? (Geographically)
  2. How much coverage am I getting?
  3. What are the limits of the spending?
  4. Does it cover me for maternity or dental needs?

Moving to Singapore for work and need a personal health insurance plan? Work with our team today to learn more about the options available to you.

Business Travel Insurance Plans – Traveling Out Of Singapore

Business travel insurance is commonly overlooked, but it is just as necessary as company-based group health insurance plans.

Living and working in Singapore as an expat already necessitates a thorough evaluation of available group and personal health insurance plans that have sufficient coverage. If you also travel out of Singapore often (especially expats), business travel insurance is necessary to avoid the consequences of suffering any medical emergencies overseas.

As we know, most medical insurance plans do not cover you outside of Singapore. If you travel often, obtaining business travel insurance in Singapore is vital to protecting yourself and your dependents. Not only does travel insurance cover you medically, it also tends to cover non-medical expenses such as cash payouts, emergency evacuations and cancelled trips.

Talk to our experts today and let us help you acquire the right coverage that protects you and your family from any crises.

Singapore is famed for its renowned and top-quality healthcare services. At the same time, the medical costs of public and private healthcare can be steep. Though locals receive some form of governmental aid in the form of subsidies and basic national healthcare plans, expats moving here for work are encouraged to boost their protection through private health insurance plans.

Understanding the insurance and medical landscape here can be useful in discerning the coverage that you and your family may need. Our team does the product research and has the experience necessary to advise you on the different health insurance plans that are available on the market. We also help with international cover, even though we are based in Singapore. Let us help you. To get in touch, contact us today.

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