Singapore medical insurance for expats: Finding your ideal plan

Singapore’s healthcare system consistently ranks among the top countries in the world, and the medical costs for 2022 are projected to increase at an astronomical rate. According to Willis Towers Watson’s 2023 Global Medical Trends Survey Report, medical inflation in the Lion City is projected to rise by 9% in 2022 from 8% in 2021. Therefore, having the right expat medical insurance in Singapore is essential in offsetting skyrocketing medical fees.

Those on the hunt for local or international medical insurance will likely know how difficult it can be to find an ideal plan that takes into account your specific healthcare needs and budget. Identifying the best health insurance in Singapore can be even more challenging for new arrivals because they may not be familiar with the city-state’s health insurance and healthcare landscape. To help, Pacific Prime provides some key insights and tips on finding the best health insurance in Singapore.

Expat insurance options in Singapore

Before identifying and narrowing down your list of the best health insurance plans in Singapore, it would be prudent to be aware of what options are available to you. We’ve explained different health insurance options in the Lion City in great detail in our Local vs. International Health Insurance in Singapore guide, but here’s a quick overview of the main types of health plans available:

Medishield Life

Singaporean citizens and permanent residents are automatically enrolled in Medishield Life, a basic health insurance scheme designed to offset large hospital bills and a select number of expensive outpatient treatments (dialysis and chemotherapy).

Medisheild Life offers limited coverage and policyholders may supplement it with Private Integrated Shield Plans. Please bear in mind that only expats with permanent resident status are eligible for Medishield Life coverage, those without permanent resident status are highly advised to secure private expat insurance.

Local Singapore medical insurance

Private local health insurance plans are designed to cover the policyholder in one country only, although more comprehensive options may offer minimum coverage for medical emergencies that arise during trips abroad (not exceeding 90 days). Every plan is different, so pay attention to the small print before buying.

As local plans are cheaper than their international counterparts, they’re typically recommended for people on a relatively tight budget, as well as those who rarely leave the country. Expats, on the other hand, tend to move countries and/or travel often, so a local plan may not offer the best protection. So, be specific in your search and look for the best medical insurance for expats.

International medical insurance

Perhaps not surprisingly, international medical insurance is the most popular option for globally mobile expats and frequent travelers. The reason is simple: they cover policyholders worldwide and tend to come with a wide range of coveted perks that make them far superior to local plans, such as:

Wider range of benefits in your country of residence
Higher coverage limits
Lifetime renewable guaranteed
More options for pre-existing condition coverage
No restrictions on healthcare providers
Plan portability

Don’t compare expat health insurance based on price alone

The ideal medical insurance plan for expats is one with a perfect balance between cost and benefits. While it’s understandably tempting to purchase the cheapest plan available, it’s likely not conducive to the best overall benefits. For instance, many people opt for local health insurance because of its low price tag, but it’s important to bear in mind that these plans come with several drawbacks – some of which may not be immediately apparent.

Here are some common issues to watch out for:

Not lifetime renewable
Erratic premium increases
Restrictive provider networks
Low limits
High co-pays
A long list of exclusions
No international medical evacuation
Limited or no cover for pre-existing/chronic conditions

Medishield Life vs. local plans vs. international health insurance

Be sure to familiarize yourself with all your Singapore medical insurance options – including the costs involved and the coverage received, before you select a plan. Here, we summarize the key differences side-by-side:

Plan type
International health insurance
Local health insurance
Medishield Life

Annual Limit
Varies (usually higher than its local counterparts)
Varies (usually lower than its international counterparts)
SGD 100,000

Area of cover
Worldwide (usually excluding the US)
Singapore only (sometimes with short term overseas cover for medical emergencies)
Singapore only

Inpatient cover
Yes
Yes
Yes

Outpatient cover
Depends if you opt for an inpatient + outpatient plan
Depends if you opt for an inpatient + outpatient plan
Select costly outpatient treatments

Renewability
Lifetime
Upon mutual agreement (up to a certain age)
Lifetime

Pre-existing condition coverage
Possible (in most cases, you will need to pay an additional premium)
No
Yes

International medical evacuation
Yes
No
No

It’s worth noting here that the above table is intended for generalized comparison only. For a free, tailored comparison of the ideal Singapore medical insurance plans, visit our compare health insurance page or get in touch with our team of advisors today.

Secure expat health insurance in Singapore through Pacific Prime

As a health insurance broker with over two decades of experience, Pacific Prime Singapore is well-placed to help you hunt for a suitable expat health insurance plan. First, check out our dedicated health insurance page for a plan comparison and free quote. Alternatively, our expert and friendly advisors are readily available to give you a personalized and unbiased insurance consultation.

Staying true to our motto of “simplifying insurance,” we constantly release guides and reports. For an in-depth overview of Singapore’s health insurance landscape, check out our The Cost of International Health Insurance report 2021-2022. Likewise, we stay on top of the latest updates from the government and Ministry of Health, recently looking at the new proposed changes to MediShield Life. Contact us today!

Jessica Lindeman is a Content Strategist at Pacific Prime. She comes to work every day living and breathing the motto of “simplifying insurance”, and injects her unbridled enthusiasm for health and insurance related topics into every article and piece of content she creates for Pacific Prime.

When she’s not typing away on her keyboard, she’s reading poetry, fueling her insatiable wanderlust, getting her coffee fix, and perpetually browsing animal Instagram accounts.