How To Buy The Right Health Insurance Plan In Singapore?

Whether you are a Singaporean citizen or an expat, you need proper health insurance when living in the Lion City. While Singapore has some of the best hospitals in the world, the cost of treatment can get quite expensive.

Singaporean citizens and PRs get coverage from MediShield Life for their health care expenses. However, MediShield Life is pegged at only class C/B2 wards in public hospitals. If you prefer other types of hospitals or wards, this coverage may be insufficient. Moreover, the annual claim limit of MediShield Life is capped at S$150,000 with further limits placed on specific treatments such as chemotherapy and kidney dialysis. If you prefer a private hospital, your treatment charges may go beyond these thresholds. In this case, you may want to consider health insurance known as an Integrated Shield Plan, that can help provide more extensive coverage.

If you are planning to buy an Integrated Shield Plan for the first time, you may need a bit of help. Read on to discover a few tips that can guide you in getting a suitable health insurance plan in Singapore.

1.                         ·         Decide on the type of ward / hospital you prefer to get treatment from

There are different types of Integrated Shield Plans available in Singapore. The plan that you pick will determine the type of hospital or ward you will get coverage for. There are plans that cover class B1, class A, and private hospitals. The premiums will vary based on the plans that you choose.

·         Review benefits of the plan

Compare benefits of the various plans that cater to your selected ward category. When looking at benefits, compare features such as coverage for pre- and post-hospitalisation coverage and sum insured. Integrated Shield Plans can offer pre-hospitalisation coverage for 180 days, post-hospitalisation coverage for 365 days, and sum insured up to SGD 1 million or more.

Furthermore, some insurers in Singapore also cover you for planned and emergency medical treatments abroad. 

1.                        ·         Look at the supplementary benefits offered  

Insurers also go a step beyond to offer enhanced benefits to their customers. You add a rider so that your health insurance covers up to 95% of your hospitalisation expenses. Look for features such as hassle-free appointment bookings, cashless medical treatment, and concierge services when choosing a health insurance plan. These benefits can really go a long way in helping you make the most out of your coverage.

·         Read customer reviews

It helps to know what others have to say about the insurer you are planning to get your coverage from. See what other customers say about the service offered by the insurance company. You want to choose an insurer who is known for excellent customer service.

You may consider taking help from a financial consultant when choosing a health insurance plan in Singapore. We hope this was an informative read. Take care.





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