Singapore
Insurance for Expats in Singapore
Overview
Singapore is often referred to as the Lion City, or the Garden City due to its densely populated island with tropical flora, parks and gardens. It is well-known for having both an exceptionally high level of healthcare and a thriving expat community. It’s a vibrant, clean and modern city-state. Its population of just under 5.7 million people is also one of the healthiest in the world. With low crime and pollution rates, and a culture that’s built on staying active and healthy, the average life expectancy in Singapore is just under 84 years. One of the highest in the world.
The Singaporean government takes the health of its people very seriously and constantly measures and regulates every aspect of the healthcare system to ensure it remains fair, effective and efficient. The Ministry of Health in Singapore also actively promotes healthy living with programmes dedicated to keeping people active and preventing illness. Singapore was ranked ninth in Money UK’s 2021 list of the healthiest countries in the world, which is based on obesity and pollution rates, food prices and life expectancy. It also came in at number eight on Bloomberg’s 2019 Global Health Index.Â
Health Insurance and Healthcare System in Singapore
When the World Health Organization published its rankings of the world’s healthcare systems in 2000, Singapore came sixth out of 191. Things haven’t changed much since then, with Singapore consistently appearing towards the top of other similar lists over the years.
Singapore boasts one of the most efficient healthcare systems globally, characterized by a mix of public and private healthcare services. Health care in Singapore can be very costly so you need to think about private health insurance. Many insurers class Singapore joint with Hong Kong as the second most expensive place in the world for medical treatment. Singapore offers world-class healthcare with both public and private facilities. The system is efficient, cost-effective, and well-regulated.
If you’re relocating to Singapore, expat medical insurance should be something that you should consider buying so you are covered instantly when you arrive.Â
Only citizens or permanent residents can access Singapore’s public health care system.Â
Which is why most expats in Singapore take out private health insurance or have it provided by their employer as part of their expat package. It is important to carefully check the terms of any health insurance policy to ensure that it provides sufficient cover to meet your specific needs. In Singapore, expatriates and foreigners will pay more anywhere than a Singapore citizen when it comes to health care treatment. Fees for services provided by doctors and hospitals in Singapore vary and may be difficult to predict. The only way to keep costs down and controllable is by purchasing expat health insurance while in Singapore.
Singapore boasts one of the most efficient healthcare systems globally, characterized by a mix of public and private healthcare services. The public healthcare system, primarily supported by the government, includes the MediShield Life insurance scheme, which offers basic coverage for significant medical costs, including hospital stays and essential treatments. MediSave, another public initiative, allows citizens and permanent residents to use their personal savings for medical expenses, including premium payments for health insurance.
- What is the MediSave Scheme? It’s a national medical savings scheme in Singapore that helps individuals set aside part of their income for healthcare needs.
- How can the funds be used? The funds can be used for personal or approved dependents’ hospitalization, day surgery, certain outpatient expenses, and healthcare needs in old age.
- Are there any withdrawal limits? Yes, there are withdrawal limits set to ensure sufficient savings for basic healthcare needs in old age. These limits generally cover most charges at subsidized inpatient wards and outpatient treatments.
If you are moving to Singapore, expat health insurance is something you need to purchase to avoid paying yourself for a possible very large medical bill. If an expat living in Singapore is unable to pay a bill incurred at a medical facility the government reserves the right to revoke a visa enabling them to stay in Singapore. This can result in deportation from Singapore due to the country’s very strict laws.
The Singapore medical system is costly, however, it is also a highly rated health care system and many people have access to high-quality specialist medical treatment. Many medical insurance providers can help arrange full health cover plans suited to your individual needs, so that you and your family get the best quality treatment, however far you may be from home, and however long you plan to stay in Singapore.
Private Health Insurance in Singapore
Private health insurance is an essential consideration for expatriates living in Singapore. While the country’s public healthcare system, supported by MediShield Life and MediSave, provides a foundation of basic coverage, these public insurance schemes are primarily aimed at citizens and permanent residents. Expats, who may not have access to these benefits, often opt for private health insurance to ensure comprehensive medical coverage.
It’s important to note that the costs of private medical care are subject to market forces and can vary significantly. Therefore, individuals should carefully consider their healthcare needs and financial situation when choosing a private health insurance plan in Singapore.
Best Health Insurance Providers in Singapore
For expatriates living in Singapore, selecting the right international health insurance is crucial for ensuring access to quality healthcare both within the country and abroad. Here are some of the best international health insurance companies for expats in Singapore:
Cigna: Cigna offers comprehensive global health insurance plans with extensive coverage, including inpatient and outpatient care, medical evacuation, and wellness benefits. They are known for their flexible plan options and a wide network of healthcare providers worldwide.
AXA: AXA is a leading global insurer offering plans that cover a wide range of medical needs, including preventative care, hospitalization, and specialist consultations. Their plans are known for being highly customizable to suit the needs of expatriates.
IMG: International Medical Group (IMG) offers a variety of plans for individuals and families, including coverage for emergency care, routine check-ups, and more. IMG is popular for its affordability and flexibility, making it a good choice for budget-conscious expats.
Allianz: Allianz provides comprehensive international health insurance with a focus on high-quality care and extensive global networks. Their plans often include optional add-ons like dental and optical care, making them a versatile choice for expats.
Each of these companies offers distinct advantages, and it’s important for expats to carefully compare the benefits, coverage limits, and costs associated with each provider to find the best fit for their specific healthcare needs.
Best Hospitals in Singapore
Singapore is home to some of the best healthcare facilities in the region, renowned for their world-class tools, highly trained medical professionals, and comprehensive range of services. Here are some of the top healthcare providers in Singapore:
1. Mount Elizabeth Hospital: Known for its state-of-the-art medical technology and a wide range of specialist services. It is a preferred choice for medical tourists and expatriates seeking advanced medical care. Specialties include Cardiology, oncology, orthopedics, and neurology.
- Address: 3 Mount Elizabeth, Singapore 228510
- Phone: +65 6737 2666
2. Gleneagles Hospital:Â Offers personalized care with state-of-the-art facilities. Known for its comprehensive range of medical services, including specialized treatments and surgeries.
- Address: 6A Napier Road, Singapore 258500
- Phone: +65 6473 7222
3. National University Hospital (NUH): A leading teaching hospital affiliated with the National University of Singapore, known for research and advanced medical treatments. NUH, another top hospital in Singapore, scored 85.53% on the World’s Best Hospitals 2024 ranking.
- Address: 5 Lower Kent Ridge Road, Singapore 119074
- Phone: +65 6779 5555
4. Singapore General Hospital (SGH): The largest and oldest hospital in Singapore, offering a wide range of medical services and acting as a tertiary referral hospital. SGH is a renowned public hospital with a score of 90.06% on the World’s Best Hospitals 2024 ranking.
- Address: Outram Road, Singapore 169608
- Phone: +65 6222 3322
5. Raffles Hospital:Â Integrates Western and Eastern medicine, offering a holistic approach to healthcare. Known for its high standard of care and comprehensive medical services.
- Address: 585 North Bridge Road, Singapore 188770
- Phone: +65 6311 1111
These hospitals are renowned for their advanced medical technologies and highly skilled medical professionals, making them top choices for expatriates and locals seeking quality healthcare in Singapore.
Travel Insurance in Singapore
Singapore is generally safe and secure and is heavily policed. There is an uncompromising approach to law enforcement in Singapore, and the death penalty is still used. This does make Singapore a very much a crime free country however tourists should beware that Singapore has more laws than any other country globally and that what you may find to be acceptable in your country would be a criminal offence in Singapore.
There is no tolerance of public drunkenness and fines are issued for minor offenses such as dropping litter, chewing gum on public transport, and smoking in public places.
Vaccinations against rabies is suggested for those traveling to remote areas where an antidote may not be easily available. Travelers should also consider precautions against malaria. Hepatitis A vaccination is recommended if visiting areas where sanitation is poor; vaccination against Japanese Encephalitis is recommended if you’re visiting areas with a risk of mosquito bites.
There is also a minor risk of dengue fever and taking basic precautions against mosquito bites is advised. Proper hygiene practices, such as diligent hand washing, are advised to guard against infections such as hand, foot and mouth disease. Get travel insurance here.
Life insurance in Singapore
Singapore has usually been a place where expensive living has meant it is important that adequate life insurance is in place. Many people have a small life insurance benefit provided by their company. Ask yourself is this enough to provide for your family and dependents in the event of your death? In almost every case the answer to this is no. Additionally many companies don’t provide this employee benefit. What would you do if your new employer didn’t provide this?
A growing number of insurers are working with i-Brokers to supply discounts on many life insurance policies. It can be difficult with so many life insurance companies in Singapore but the task is certainly made a lot easier with our help and expertise to compare the market and make this a simple task.
The first thing to do when you visit the site is to decide upon the type of life insurance plan that you would like.  How much would you like to cover yourself for? Input your information on the quote form and simply follow the easy instructions. You can always go back to at a later stage to amend the quote if you wish or do this. Get a life insurance quote in Singapore here.
