Health Insurance for Expats in Singapore
Singapore is one of the most advanced nations in the region, if not the most advanced. Their modern financial economy has caused Singaporeans to enjoy one of the highest standards of living, and their health care system has been ranked 6th in the world. However, expats’ health insurance in Singapore can be a real headache. Expats living in Singapore do not have access to the 6th best healthcare system in the world, because they are not covered under the government programs.
For visitors to Singapore, they advise that a health clause exist in your travel insurance. For expats hoping to live in Singapore, getting insurance can be a bit of a trick. For the more affluent white-collar foreign workers, the company generally provides a health care plan for you -according to MOM, the employers are required to purchase a medical insurance per work permit holder Read here about MOM and health insurance for employees. However, for expats who need health insurance for their family while they’re living in Singapore, know that many company plans will not cover additional family members.
Expats living in Singapore typically pay the same taxes that Singaporeans do, if not more. This of course is one of the sticklers that expats are not happy about. However, know that there are other options for you. If you are employed by a company based in your home country, then you need to look into whether or not your health care plan works in Singapore. All of the state-of-the-art equipment and medical services that you would expect from top medical institutions exist in Singapore, and if you are covered, then you have access to it all.
There are a few major insurance companies like AIA, Prudential and Great Eastern that offer shield plans that are relatively inexpensive. Be aware that plans can potentially run up into the thousands of dollars per year, and it all depends on a range of factors including whether or not you want full coverage, disease coverage, maternity coverage, etc. Expats tend to agree that health insurance in Singapore is a very necessary purchase. If something goes wrong and you are not insured, the prices are very high.
If this does not sound like the right information, perhaps you should look into the National Trades Union Congress iMedicare plans, which provide a pay-contribute scheme wherein you are allowed to visit the clinics with no more than your passport and the card. This is a good option if you have yet to find a full expat health insurance plan for Singapore.