Expat Guide To Understanding International Health Insurance Plans In Singapore

Many international expats come to Singapore for work and now make up a significant portion of the foreign workforce. According to MOM, there are over 200,000 workers on Employment Pass (EP) – which has a minimum salary requirement of $5,600 for those 23 and below, and up to $11,800 for those 45 and above in the Finance sector.

Because of their “Foreigner” status, they don’t have the same benefits as locals, especially when it comes to their healthcare coverage. For a start, since foreigner do not get CPF contributions, they cannot rely on any MediSave Account (MA) savings. 

Similarly, expats will not also not be covered under Singapore’s national basic health insurance plan, MediShield Life, nor will they receive subsidised healthcare treatments in public hospitals, where Singapore Citizens can enjoy subsidies of between 50% and 80%, based on income.

Given this, and the potentially high cost of private healthcare in Singapore, many expats here opt to buy private health insurance that covers them internationally. With that in mind, here’s an expat guide to understanding international health insurance plans in Singapore. 

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Local VS International Health Coverage

It’s important to understand what exactly “international health insurance” is in the context of purchasing it as an expat in Singapore.

Typically, health insurance plans in Singapore that are sold to Singapore Citizens and Permanent Residents (PRs) only provide coverage for claims in Singapore. Examples of protection plans like these are MediShield Life or Integrated Shield Plan (IP). While expats do not get coverage under MediShield Life, they can typically purchase health coverage that is similar to the Integrated Shield Plans that locals buy. 

Nevertheless, many expats opt to have an extra level of protection.

International health insurance provides coverage for expats in both Singapore and overseas – which is ideal for those who need to travel a lot, either for work or whenever the opportunity arises to visit home, as well as those who could potentially relocate to different offices during their coverage period. 

With that extra level of flexibility, expats can – of course – expect to pay more in premiums.

Employer-Provided Insurance Is Good, But May Not Be Enough

One thing that many expats may fail to realise when moving to Singapore with their company, is that their employer-provided health insurance may have low limits and limited coverage.

There can be an option to top-up existing coverage but this can also be limited if the plan is not an international health insurance plan.

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Coverage Options To Consider

Expats in Singapore can also consider what type of coverage they’ll need. Basic healthcare coverage can include just the largest inpatient costs, such as major operations that can run into the tens of thousands of dollars at private hospitals in Singapore.

Meanwhile, outpatient care (for things such as basic doctors’ visits or having to go to specialist centres) can cost extra in premiums if expats want to be covered fully for that as well. Key add-ons, such as dental visits, can cost even more in premiums given the high cost of dental treatment generally. 

Another large extra cost that expats should consider – if they want to start a family and have insurance cover the cost – is maternity insurance. That’s because the process of pre-natal scans, hospitals stays, and the process of delivering a child in Singapore at a private hospital can cost up to S$20,000 to S$30,000 in total – particularly if an emergency C-section is required.

Again, while some employer-provided coverage plans may provide coverage for the delivery, expats may want to consider more comprehensive coverage for their peace of mind.

For these maternity insurance plans, it’s important to remember that they have “waiting periods” before you can claim on them. They typically range anywhere from 12 months to 24 months, meaning in essence that expats must pay at least two years’ worth of premiums.

Costs For International Health Insurance

An expat individual in their 30s, can expect to pay anywhere from S$3,000 to S$6,000 per year in annual premiums for a comprehensive health insurance plan. These are typically provided by established insurers like Great Eastern, AIA, Income and AXA, as well as large international insurers, including Cigna, Allianz, and MSIG.

Of course, if expats want to get other family members covered then this will be an extra expense. Furthermore, maternity insurance premiums can be another S$5,000 to S$10,000 in annual costs for expats looking for comprehensive coverage at private hospitals in Singapore.

While much cheaper options can be had if expats are willing to consider plans such as IP, these may not offer the flexibility required for them and their families. As a result, it’s best to be conservative and factor in relatively large premium payments for the most comprehensive international health insurance plans in Singapore.

Finally, since many expats will also enjoy coverage with their employers, it will be financially prudent to learn about this existing healthcare coverage they already enjoy. For the added peace of mind, they can look to beef it up with International Health Insurance on a personal level.

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