The average cost of health insurance for foreigners in Singapore
The tiny red dot in Southeast Asia is one of the most expensive cities in the world. Hence, health insurance is essential if you plan to call Singapore home to avoid being shocked after looking at the first hospital bill in the event of an emergency.
My Background
I am a Sri Lankan ex-pat working and living in Singapore for nearly five years. This article is entirely based on my personal experience purchasing health insurance, and I am sharing this to give an idea about health insurance costs to someone new to Singapore.
What is health insurance?
The costs of healthcare in Singapore are covered by health insurance, including hospital bills, medical treatments, and other health-related expenses.
Does healthcare expensive in Singapore?
I have a little experience with this. For the problem of abdominal bloating and gas, I consulted a specialist. The specialist recommended an endoscopy and a stool test. The cost of these two tests for a private hospital is estimated to be around 5000 Singapore dollars.
2-3 years back, one of my friends did Appendix Removal surgery in a private hospital, costing him around 6000 Singapore dollars.
In addition, I’ve heard that a day surgery in a private hospital can easily cost more than 10,000 Singapore dollars.
I hope now you have a little idea about the cost of hospital bills in Singapore, and I recommend you research this.
Here are some more examples
Types of health insurance
Based on my insurance provider, there are mainly two types of health insurance.
- Public Hospital Cover
- Private Hospital Cover
The premium of private hospital coverage is slightly more expensive than public hospital coverage.
Suppose you are covered with a public hospital cover. In this case, If you were hospitalized in a public hospital, you could claim up to 95% of the hospital bill. However, if you have public hospital coverage, you can only claim up to 65% of the hospital bill if you were admitted to a private hospital.
If a private hospital cover covers you, you can claim up to 95% of the bill in both public and private hospitals.
Keep in mind all these are subject to the terms and conditions of the insurance provider.
There is another thing called riders when purchasing insurance. A Rider is an add-on to the insurance policy, which helps reduce the amount you have to pay from your pocket. You can learn more about different riders from insurance consultants when purchasing.
Please note, when purchasing health insurance, read all terms and conditions and get it clear by asking questions from the consultant. Please be aware of what covers and does not, claiming procedure, etc.
Cost of health insurance
Health insurance costs are determined by several factors, including age and insurance provider. Furthermore, the premium will vary annually; the provider typically charges the premium annually.
Here is the high-level cost of Prudential, one of Singapore’s leading health insurance providers.
More info
If you want to purchase health insurance, I’d like to introduce you to my health insurance consultant, who is very friendly and the best in the business. You can contact her via WhatsApp, and you can meet to discuss various types of policies.
- Megan Chan from Prudential
- Contact Number: +65 8540 3811
Here are some in-depth resources for understanding and comparing various types of health insurance. Reading this will provide you with a thorough understanding.
That’s it for today, guys. Thank You for Reading! I hope you found this article informative and useful.
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