How Health Insurance Works in Singapore

1. How Health Insurance Works in Singapore There are a lot of government schemes and unintelligible jargon prevalent in Singapore. Due to this, a layman may tend to get confused when looking for proper hospitalisation insurance plans in this city-state. This is the reason that before you go ahead and buy an insurance plan, you should conduct some research online or consult a few good insurance advisors. •Singapore government provides MediShield Life health insurance that covers basic public hospital treatments. This insurance is given to all Singapore citizens and PRs. •You can boost this basic insurance plan with the help of an Integrated Shield Plan which covers treatment in better-class wards and even some private hospitals. It also covers pre- and post- hospitalisation treatment. •Then there are the private insurance providers who will cover every kind of hospital treatment including pre and post hospitalisation treatments. The choice of the kind of ward and comfort depends on the premium that you pay. •The government of Singapore however, has created a law to protect insurance companies. Under this law, the person claiming health insurance has to pay some amount before you get the rest. This prevents people from getting admitted to luxury rooms and unnecessary hospitalisation where it is not required. •In order to reduce the amount of this upfront cost, you can add a rider to the Integrated Shield. With this rider, you only must pay 5% of the hospital bill beforehand. Medical treatment is extremely expensive in Singapore and this is the reason that you need to cover yourself in case of heavy hospitalisation bills. For this, you need sufficient hospitalisation insurance to cover the medical costs of serious ailments which require hospitalisation. Different people require different plans and private insurance companies provide tailor-made plans which cover all the costs that you may incur. In fact, many companies cover even existing ailments that may require hospitalisation.