About Pacific Prime Singapore
As a registered insurance broker, Pacific Prime Singapore is committed to finding the best solutions for its clients and offering the best advice.
Pacific Prime has cultivated strong business relationships with the world's leading insurers in order to offer our customers the best possible health insurance solutions.
Our array of services include:
- Impartial insurance advice
- Free plan quotation and plan comparison
- Client services in over 27 languages
- Plan renewals
- Claims support
Living and working overseas is a fantastic opportunity but also one that requires careful planning to ensure your experience is a smooth one. Securing the right healthcare as a foreigner is often one of the biggest choices you’ll need to make. In Singapore, the standard of care is very high – but also very expensive. If you know you’ll need your own private medical plan to cover these costs, Pacific Prime Singapore is here to help you compare expat health insurance.
Do I need my own health insurance in Singapore?
Many expats that are brought to Singapore for work are generally offered health insurance via their employer. This is because local government Medisave subsidies for healthcare don’t apply to non-citizens or those without Permanent Residency. Those that don’t have employer-provided health benefits will generally find it better to secure their own expat health insurance.
What if I have employer-sponsored insurance?
Even if you do get insurance through your employer, the coverage can sometimes be inadequate. Group insurance plans generally aim to satisfy the majority but those with trickier or more complex health needs might find such plans come up a little short. For times like these, top-up insurance options might help.
What’s a good way to approach comparing expat health insurance?
Here are some key things to think about when comparing expat health insurance:
Know who you’re buying insurance from
There is a wide range of insurers, both global and local, that you can purchase your Singapore medical insurance from. In these options, you’ll have varying levels of coverage and benefits, as well as service and claims processing levels. Search for info on prospective providers online or get in touch with an independent broker to get an idea of who you might be giving money to.
Understand your plan options
Everything from benefit types (such as inpatient, outpatient, dental, maternity, etc.) to plan levels (sometimes referred to as Bronze, Silver, Gold, or another description), the flexibility of products in the market is what can make comparing expat health insurance tricky. Part of knowing what to include requires that you have an idea of what your specific health needs are and what they might be. The more comprehensive your plan options, the more expensive your premium.
Set appropriate policy levels
A deductible or an excess is a payment that you’ll make out-of-pocket when making a claim – while your insurance plan covers the rest. While it might make you think “If I’m paying anyway, why get insurance?”, the truth is, co-pays help keep your premium (the price of the plan) lower. In addition to co-pays, you’ll also want to set appropriate policy maximums (the total amount to which claims can be made in a year) to ensure you’re adequately covered.
Check the policy eligibility and coverage area
Some plans are designed for certain types of people, or people from specific regions. Plans can place restrictions on people of a certain age, while others might not apply to some nationalities. Some countries, such as the United States, have more complex insurance needs – so it’s not uncommon to find international coverage plans that exclude the US.
Find out how the policy renewal works
Due to the nature of insurance and the increase of health risks as we age, it’s common to see plans cease being renewable after a certain age. This is not to say that you become uninsurable after you turn, say, 75, but simply that that specific insurer will not renew your coverage. Other plans, however, can offer lifetime guaranteed renewal.
Ask about plan networks and billing options
In order to keep costs down, many insurers will engage a network of approved providers in Singapore that can make seeking healthcare and processing claims much faster. Seeking care from outside the network may still be possible under some insurance policies, but sometimes you may find care providers outside the networks are uncovered.
Billing options can also have a big impact on your experience with insurance. The traditional way for health insurance was: an individual would seek and pay for care themselves, then submit a claim to the insurer to be reimbursed. More recently, insurers have moved to direct billing services – meaning the insurance company and the healthcare provider work out the claim between themselves and you simply have to show an insurance card to receive treatment.
What’s my best option for comparing expat health insurance in Singapore?
While it’s entirely possible to compare your health insurance options on your own, the fastest and easiest way to weigh up your health insurance options in Singapore is to engage the services of a reputable broker. Pacific Prime Singapore has relationships and experience with all major insurers not only in Singapore but also globally, meaning you can count on our advice to put you in the best position possible when securing medical coverage.
For a free quote, check out our online quotation tool and start comparing expat health insurance right now. If you’d rather talk to one of our industry-leading consultants, contact the team at Pacific Prime Singapore today!