Personal Health Insurance
(Locals & Expats)
Personal Health Insurance
(Locals & Expats)

Personal health insurance provides individuals with the benefit of reimbursement on their medical expenses.

Medical costs have been experiencing an upward trend in the last decade, with an average increase of 10% yearly. This is due to several factors such as the increase in healthcare demand, our ageing population, raised awareness for available healthcare, better access to medical facilities, and advances in medical technology.

With the high costs of healthcare, individuals might not be able to afford the financial implications of an unexpected hospitalisation. Hence, it is crucial for individuals to ensure that they have sufficient coverage for their medical expenses.

Local and International policies available.

Common Types of Coverage

Hospital & Surgical

Covers hospitalisation
and surgical expenses

Outpatient (GP)

Covers eligible expenses
incurred at a GP

Outpatient (Specialist)

Covers eligible expenses
incurred at specialist clinics,
inclusive of diagnostic scans

Dental

Covers eligible dental expenses

Benefits of Health Insurance

 Coverage for medical and hospitalisation expenses

 Ongoing coverage even when you switch jobs

 Protection against the inflating costs of healthcare

 Financial peace of mind when it comes to medical costs

Evaluating Your Need for Health Insurance

Through contributions from your CPF Medisave, all Singapore Citizens and Permanent residents (PR) are automatically covered under MediShield Life. Every Citizen and PR thus has access to a minimum of government facilities, with inpatient hospitalisation limits of up to $100,000 per year.

On top of Medishield Life, companies usually provide employee benefits to their employees whilst they are in the company’s employment. Be sure to check your employee handbook on what employee benefits your company offers.

Ultimately, if you feel like you need better coverage, or want to ensure continuity of your medical insurance coverage post employment, you should plan ahead by purchasing suitable medical insurance plans for your needs.

Selecting the Right Health Insurance Plan for Yourself

Whether you are a local, an expatriate, employed or self-employed, you should be aware of your health insurance coverage, and whether it is adequate for your current and future lifestyle and needs. Speak with an experienced insurance broker that has accessibility to a wide range of insurers, and is able to help and advise you on your health insurance needs.

Contact Us for a Free Quote,
Policy Comparison and Unbiased Advice
Contact Us for a Free Quote,
Policy Comparison and Unbiased Advice
Frequently Asked Questions About Health Insurance In Singapore

Personal health insurance pays out a reimbursement on your medical expenses. Having hospital insurance gives you peace of mind that you won’t deplete your life savings after a medical emergency.

MediShield Life for Singaporeans and Permanent residents

All Singaporeans and Permanent Residents (PRs) are covered under MediShield Life, a compulsory health insurance in Singapore scheme by the government that pays for basic medical and healthcare treatments.

 

Integrated Shield Plan

As MediShield Life only covers admission to basic wards in public hospitals, those who prefer to be admitted to better wards or private hospitals should consider an upgrade to an Integrated Shield Plan, which features a wider coverage.

 

Employee Health Benefits

On top of MediShield Life, all individuals (Singaporeans, PRs and expatriates) employed by a company in Singapore should also find out if you are covered under a group health insurance policy, and if so, the extent of coverage you are entitled to.

According to the Singapore Department of Statistics, medical costs are soaring in the last decade, with an average increase of 10% yearly. It’s due to several factors, including healthcare demand, an ageing population, raised awareness for available healthcare, and advances in medical technology.

With the high healthcare costs, you might not be able to afford the financial implications of unexpected hospitalisation. Having personal health insurance in Singapore ensures that you have sufficient coverage for unexpected costly medical expenses.

Based on comparisons between health insurance in Singapore, the cost will always depend on the risks you insure and the amount of coverage you choose. You get the most affordable when you’re young, healthy and we can offer more comprehensive options that come from comparisons across multiple insurance firms.

Through contributions from your CPF Medisave, all Singapore Citizens and Permanent residents (PR) get automatic hospital insurance under MediShield Life. Every Citizen and PR thus has access to a minimum of government facilities, with inpatient hospitalisation limits of up to $100,000 per year. But you can never underestimate how high medical expenses can be.

Singapore has one of the most efficient healthcare systems in the world, and if you do need health treatment, both public and private hospitals are well-equipped. But wherever you go, treatment costs could be high. Maternity costs for delivery at private hospitals can be as high as $10,000, with a night’s stay at a private hospital costing above $700. See how much hospital treatments cost.

You should also note that your Group Health Benefits policy ends when you switch employers or retire, hence it is important to have a personal health insurance policy as well. We advise against waiting until retirement to buy a health insurance policy as by then, you may not be insurable due to age or poor health. Your pre-existing medical conditions may also be excluded from coverage then.

Individuals who find that their existing coverage is inadequate can look to Private Health Insurance.

As an expatriate, you would have no access to public health insurance in Singapore and are relying solely on the health benefits provided by your employer. Hence, we strongly advise you to consider getting covered under a private health insurance plan to be more well-equipped against unforeseen medical or hospitalisation expenses.

As international health insurance can be costly, we recommend purchasing only if you are certain that you’ll need the additional coverage it provides. It is common among expatriates who travel or relocate often, or international students who live abroad for an extended period of time.

These people are usually either not covered by state-provided healthcare benefits in their country of residence, or the public healthcare benefits are inadequate, and they wish to obtain better protection.

Singaporeans living abroad will need to decide if they need such insurance based on the public healthcare benefits they are receiving in their country of residence and whether these are adequate. For instance, if you qualify for universal health coverage in your country of residence, you might not need additional health insurance.

For Locals and Permanent Residents who wish to upgrade their Hospitalisation cover from MediShield Life to an Integrated Shield Plan, or expatriates who want a local health insurance/hospital insurance:

  1. NTUC Income – Enhanced IncomeShield Preferred
  2. Prudential – PruShield Premier
  3. AVIVA – MyShield
  4. Great Eastern – Great SupremeHealth P Plus
  5. AXA – AXA Shield
  6. AIA – HealthShield Gold Max
  7. RHI – Raffles Shield Private
  8. AXA – SmartCare Executive
  9. AXA – SmartCare Optimum Enhanced

For Individuals who want a better Private (International) insurance plan:

  1. AXA – International Exclusive
  2. Cigna – Cigna Global Health Options
  3. Liberty – MyHEALTH
  4. MSIG – Prestiage Healthcare
  5. AXA – GlobalCare Health Plan

G&M Insurance is capable of providing you with the freedom to pick the policy best suited to your lifestyle. Your hospital insurance options are no longer limited to a single insurance company. More options mean you can select the policy that’s most appropriate for you.