lion loyal city: group health insurance in
singapore
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Note: for group health insurance in Singapore, we focus on “best value” providers, not the cheapest ones
About Us
Employee Benefits Asia is a dedicated brand of Tenzing Pacific Services, Vietnam’s leading expat insurance broker since 2013. We have over 130+ perfect 5-star Google Reviews and have written this guide to provide you & your organization clarity on group health insurance in Vietnam.
We work with groups of all sizes, from 1 employee to 500+ from local, regional & international providers who service Vietnam. Our dedicated support to our cilents leads to exceptional user experiences in an industry full of landmines.
Understanding the Importance of Group Health Insurance
Group health insurance is a fundamental employee benefit, especially for expatriates in Singapore. For companies operating in this region, offering robust medical coverage boosts employee satisfaction, loyalty, and productivity while attracting top talent.
If you’re seeking a group medical insurance policy in Singapore, here’s everything you need to consider:
Conducting a Thorough Market Review: Always review the group health insurance market before purchasing or renewing your policy each year. Singapore’s health insurance market evolves constantly, with new providers and plans emerging. Comparing quotes from a wide range of insurers ensures you secure the best possible policy.
Conducting a Thorough Market Review
Always review the group health insurance market before purchasing or renewing your policy each year. Singapore’s health insurance market evolves constantly, with new providers and plans emerging. Comparing quotes from a wide range of insurers ensures you secure the best possible policy.
Key Benefits of Group Health Insurance
When selecting group health insurance in Singapore, your premium will be influenced, among other things, by the specific benefits chosen & the limits of those benefits. The available benefits are:
Medical Coverage: To design an effective policy, start by understanding the benefits your employees need. Engage with your staff to align coverage options with their expectations. Popular benefits in Singapore include outpatient care, freedom to choose medical facilities, and zero deductibles.
Inpatient Insurance: Inpatient insurance typically covers diagnostic tests, emergency and non-emergency transport, intensive care, medications during hospitalization, surgeries, and organ transplants.
Maternity Insurance: Maternity coverage may include hospital or home delivery expenses, complicated deliveries, and prenatal and postnatal care.
Outpatient Insurance: Outpatient benefits often cover diagnostic tests, general practitioner and specialist visits, alternative therapies, outpatient surgery, prescription medications, and vaccinations. Alternative therapies like acupuncture, chiropractic treatment, and traditional Chinese medicine (TCM) are growing in popularity.
Dental Insurance: Dental plans typically offer two levels of coverage:
- Preventative Care: Includes routine cleanings and checkups, as well as basic treatments like fillings and root canals.
- Major Treatments: Covers procedures like crowns, bridgework, and periodontal care.
Emergency Evacuation and Repatriation: This benefit includes medical transportation during life-threatening situations to the nearest facility capable of treating the condition. Repatriation entails returning the patient to their home country or residence for further care. These services can be costly, so they’re a valuable inclusion in any plan.
Underwriting Options: Insurers use two main underwriting methods for group health plans:
- Moratorium Underwriting: This approach allows coverage of pre-existing conditions after a waiting period, provided no treatment or symptoms occur during that time. It’s ideal for employees with more serious conditions who cannot qualify for full medical underwriting. It also simplifies the application process by requiring fewer medical questions.
- Full Medical Underwriting: Employees must submit a complete medical declaration for this option. The insurer evaluates each case to determine coverage for pre-existing conditions. Serious conditions may incur additional premiums (premium loading). While this method involves more upfront effort, it provides clarity on what conditions are covered from the outset.
Medical History Disregarded (MHD) Plans: MHD plans are a highlight of Singapore’s group health insurance market. These plans cover pre-existing conditions without waiting periods, provided the company has a sufficient number of employees (typically five to ten adults).
Types of Health Insurance Providers
International Health Insurance
International plans offer extensive coverage, targeting expatriates in Singapore. These plans include private and semi-private facilities, with options for worldwide medical coverage.
Pros:
- Access to a broad network of medical facilities and specialists.
- Comprehensive benefits, including dental, maternity, and outpatient care.
- Coverage for pre-existing conditions and overseas treatment.
Cons:
- Higher premiums compared to local plans.
- Overkill if you don’t plan to travel.
Local Health Insurance
Local plans are tailored to Singapore’s healthcare system and are offered by local providers. These plans are often more budget-friendly and may include tax benefits.
Pros:
- Affordable premiums.
- Specialized understanding of the Singaporean healthcare system.
- Coverage for pre-existing conditions (at an additional cost).
Cons:
- Limited to Singapore-based treatment.
- No travel-related benefits.
- Lower benefit limits compared to international plans.
Access to Healthcare in Singapore
Singapore’s public hospitals and polyclinics are well-equipped, offering affordable primary care and specialist services. However, they cater primarily to citizens and permanent residents, with expatriates relying on private insurance for access to quality care without incurring high out-of-pocket expenses.
Private hospitals in Singapore deliver a higher level of service, often catering to foreigners and affluent locals. They are smaller and more exclusive than public hospitals, making them a popular choice for expatriates with private insurance.
Premiums and Pricing Factors
Group insurance is generally more cost-effective than individual policies. However, price doesn’t always equate to quality. Understanding how premiums are calculated helps in choosing the right plan:
Community Rating
Most group health insurance policies are community-rated. This means premiums are based on the collective demographics of policyholders, such as age and coverage level, rather than individual risk profiles. This results in lower premiums for smaller groups (10–50 employees).
Experience Rating
This method considers the number of claims made under the policy. Though less common, it’s suitable for larger groups (50+ employees) and allows customization based on historical data.
Additional Considerations for Employers
- Extensions: Many insurers allow departing employees to transition to individual plans while retaining coverage for pre-existing conditions.
- Customization: Group plans can be tailored to include additional benefits like personal accident insurance or tiered coverage options.
Compliance and Legal Requirements
Expatriates on Work Permits or S-Passes are required by law to have employer-provided health insurance with a minimum coverage of $15,000 annually. Employers typically cover the full premium but may include a small co-payment component.
Employment Pass holders are not mandated to have health insurance but are strongly encouraged to secure private coverage.
Health Insurance VS Travel insurance
If you’re living in Singapore indefinitely, you should get expat health insurance in Singapore, not travel insurance.
Watch our video on this topic below:
Pricing Variables
There are many variables that go into an expat health insurance premium, they include:
- Age
- Number of People
- Provider Quality
- Benefits Selected
- Benefit Limits
- Coverage Area
- Deductibles/Co-pays
- Type of Underwriting
- How a provider handles their renewals
- Whether a pre-existing condition is covered or not
- Occupational hazards
- BMI
- Whether they offer outpatient direct billing
- Whether your plan is portable or not
- Whether you can seek treatment outside of Vietnam
A single variable can change which provider and plan we recommend. This is why it’s important to work with a reputable broker like Tenzing Pacfic Services and give them the information required, so we can only put forth the providers and plans that best meet your unique circumstances, preferences & budget.
Pre-existing Conditions
Some private insurers in Singapore offer coverage for pre-existing conditions with Medical Health Disregarded (MHD) provisions, typically for groups starting from 5 employees. However, not many providers offer this, and it tends to be costly. Generally, to get MHD coverage, you need:
Local Style
50+ employees
International Style
10+
total people, adults or employees, depending on the exact company
Watch Video about This:
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Our Service
Our service is completely free for you, it does not cost anything extra to have a professional broker on your side to help with:
1) Initial Consultation & Quotes
We need to understand your needs, then we will get quotes from suitable providers that meet your needs & budget. We will then present them to you, explain them in English, answer your questions & help you make an informed decision.
2) Plan Launch
We provide a training session at plan launch to help employees understand their policy, how it works, processes, who to contact, what to be careful of, etc.
3) Customer Service
We are the liaison between you, your employees, the hospital/clinic + the insurer. We have an in-house customer service team that:
- Works on behalf of you & your team, not the insurer
- Coordinate direct billing or guarantees of payment
- Process claims & reimbursements
- Resolve any matters when an issue arises
- Answering employees questions so your HR doesn’t have to
Read what real customers say about our complimentary customer service.
4) Policy Administration
Our customer service team works with your HR or main point of contact for anything related to:
- Application forms & contracts
- Distribution of policy documents, cards, getting your employees app/portal set up
- Invoices, payments & VATs
- Adding or removing employees
5) Renewal
Around 2 monts before your policy is set to renew, we’ll do an annual review with you. Get your feedback & your employees feedback about what worked, what didn’t work & look at what changes can be made at the renewal date.
final thoughts
Choosing the right group health insurance policy is a critical decision for employers and expatriates in Singapore. Whether opting for a local or international plan, thorough research and consultation with employees will ensure the coverage aligns with their needs. Remember, the best policy balances affordability with comprehensive benefits, securing health and peace of mind for your workforce.