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Note: for expat health insurance in Singapore, we focus on “best value” providers, not the cheapest ones
why expat health insurance matters
Expatriates in Singapore often lack access to government healthcare subsidies, making private health insurance essential. Whether you’re here for work or with your family, having a reliable insurance plan safeguards against unexpected medical expenses and ensures access to quality care.
Key Benefits of expat health Insurance
Inpatient
• Room & Board
• Surgeries
• Hospitalization Expenses
• Cancer
• Emergency Outpatient
• & many others
Outpatient
• GP & Specialists
• Tests
• Treatments
• Physio & Chiro
• Mental Wellness
• Medication
Wellness
• Annual Health Checks
• Child wellness
• Male/Female Exams
• Early Detection
• Preventative Tests
Dental
• Check-ups & Cleaning
• Crowns, Inlays & Onlays
• Root Canals
• Major Dental Surgery
Maternity
• Pre-natal Visits
• Routine Delivery
• Required C-sections
• Complications
• Newborn Care
Evacuation
• Medical Evacuation
• Repatriation
• Mortal Remains
Key Considerations for Expat Health Insurance
Selecting the right health insurance as an expatriate requires careful consideration of your specific needs and lifestyle. Here are the key factors to keep in mind:
Assess Your Needs
Consider your health condition, family requirements, and living situation. If you have dependents, choose plans that cover your spouse and children comprehensively. This ensures peace of mind for the entire household.
Coverage Features
Focus on key features when evaluating plans:
- Coverage Limits: Ensure the plan covers major hospitalizations, outpatient treatments, and emergency services.
- Flexibility: Look for options to customize deductibles, co-payments, and add-ons like dental or maternity care.
- Network Access: Confirm that the insurer has a broad network of medical providers both locally and internationally.
Global and Local Providers
- Local Providers: While local insurance companies may cater to expatriates, ensure their plans meet your needs, particularly for international coverage.
- Global Providers: Insurers like Cigna and Liberty specialize in international plans, offering broader coverage and flexibility.
Types of Health Insurance plans for expats
Expatriates in Singapore can choose from several types of insurance plans based on their requirements:
Comprehensive Plans: Covering everything from hospitalization to outpatient visits and maternity care.
Specialized Plans: Focused on specific needs like chronic illness management or dental care.
Family Plans: Designed to include spouses and children under one policy.
Global Plans: Offering international coverage for expatriates who travel frequently or relocate often.
Tips for choosing right plan
- Identify Your Priorities: Determine the essential features you need, such as maternity care or global coverage.
- Consult an Advisor: Insurance brokers can provide personalized recommendations and help navigate the complexities of choosing a plan.
- Understand Exclusions: Familiarize yourself with what is not covered to avoid surprises during claims.
- Review the Policy: Read the fine print to understand coverage limits, exclusions, and claim procedures.
Health Insurance vs. Travel Insurance
If you’re living in Singapore indefinitely, you should get expat health insurance in Singapore, not travel insurance.Â
Watch our video on this topic below:
Average Costs of Expat Health Insurance
The cost of expat health insurance varies significantly based on the type of plan and coverage chosen. For a 35-year-old individual, the average annual premium is approximately $1,339. Family plans or those requiring extensive coverage can be higher but often come with enhanced benefits.
Balancing Costs and Benefits
While cost is an important consideration, it is essential to balance it with the benefits provided. Plans offering higher premiums may include extensive coverage that saves on long-term healthcare expenses. Additionally, look for plans that offer no-claim bonuses or cost-sharing options to reduce premiums over time.
Pre-Existing Conditions
Pre-existing conditions can be considered for coverage IF they are declared and accepted by the provider during the application phase.Â
Any price you see from us, another broker or a provider is their standard rates for a healthy person of the age group for the plan selected. If you have any pre-existing conditions, we recomend Full Medical Underwriting (FMU) to see if they can be covered or not, so you know that before you take out a policy.Â
After you declare any conditions to the insurer, your application goes through the underwriting process to assess your risk vs. the standard rates. From there, an insurer will
- Accept you at standard rates
- Accept you with a premium loading, ex. +30%
- Accept you with policy exclusions for that condition
- Reject your application completely
As a broker who has dealt with thousands of applications over the last 10 years, we know which providers are more likely to accept certain conditions. If we cannot help you get covered for the condition you have, we’ll let you know ASAP. Find out here.Â
Be aware: Some conditions will never be covered under private expat health insurance in Vietnam, which is why it’s important to take out a policy when you are healthy!Â
How to Save Money on your Premiums
Expat health insurance in Hong Kong very expensive. If you want a higher quality provider, but if the premiums are bit too much for your allocated budget, then we suggest:Â
Installments
• Pay monthly
• Pay quarterly
• Pay semi-annually
Reduce Benefits
• Focus on Inpatient
• Skip Outpatient
• Save 50% by doing so
Reduce Area
• Asia focused cover
• Ditch worldwide
• Save 25-30% by doing so
Direct Billing
• Pay & Claim for Outpatient
• Small hassle? Yes
• Save money by doing so
• Claims paid in <7 days
Deductible
• Pay $X out-of-pocket 1st
• Insurance kicks in after
• ex. $1K USD deductible
• Get 20% OFF
Co-pay
• Agree to pay X%
• Example 20% of OP expenses
• Save money by doing so
Related Articles
Choosing the Right Expat Health Insurance in singapore
Selecting the right expat health insurance in Hong Kong involves understanding your specific needs, preferences, budget & circumstances.
At Employee Benefits Asia, a brand by Tenzing Pacific Services, we provide a comparison of only the most suitable providers & plans for you in an easy-to-read table with the same language so it’s an apples-to-apples comparison.Â
We employe a full in-house customer service team who works on behalf of you, to help you during the year with coordinating any direct billing, claims, reimbursements & anything else that arises. There are $0 added costs to use us or any broker.Â
If you’ve found this article valuable, we’d love to guide you through your options for expat health insurance in Singapore.
conclusion
Expat health insurance is more than a necessity; it is a lifeline that ensures access to quality healthcare in Singapore and beyond. By choosing a comprehensive plan tailored to your needs, you can safeguard yourself and your family against unexpected medical expenses.
As an insurance broker, we are here to guide you every step of the way. Whether you need advice on selecting the best policy or assistance with claims, our team is dedicated to ensuring your peace of mind. Contact us today for personalized recommendations and expert guidance to secure your health and well-being.