What should you know before buying an expat health policy?

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Buying health insurance is an important step. And since not all plans are created equally, knowing what to look for to satisfy our needs can sometimes be a bit tricky. To help make this process a little easier, Pacific Prime Singapore has created this short guide which describes the three most important things you should keep in mind when looking for a new health insurance plan.

Know your medical needs

This is a non-negotiable first step when it comes to choosing your medical insurance plan, as it will determine the whole buying process. Usually you can choose between any of the below combinations:

  • Inpatient only
  • Inpatient + outpatient
  • Inpatient + outpatient + maternity
  • Inpatient + outpatient + dental & vision

If you are looking for an inpatient only plan, you’ll have fewer things to consider when choosing your policy – the plan’s hospital network and direct billing might be the biggest ones.

But if you also have children, then adding outpatient and dental benefits should be your priority, as you’ll likely want your kids and the entire family to have access to specialist care whenever they need it.

Local vs international

Many expats in Singapore like to travel. While it’s perfectly okay to buy travel insurance each time you go abroad, holding international medical insurance comes in handy when you travel frequently for work or pleasure. The interesting fact to note here is that with the high costs of medical care in Singapore, obtaining an international health plan is not much more expensive than a local-only policy.

The price

The majority of people who start looking for medical insurance tend to initially research the possible costs of such plans. According to Pacific Prime’s annual Cost of Health Insurance report, in 2018 the average prices for international health insurance policies in Singapore were respectively:

  • Approx. SGD 513 per month for individual plans
  • Approx. SGD 1,583 per month for family plans (two adults, two children)

Those who want to receive premium healthcare in overseas and Singapore-based hospitals with direct billing, superior customer service, and continuous coverage should seek plans from established insurers, whose plans tend to charge higher premiums.

Got questions?

At Pacific Prime Singapore, we know that at first sight securing health insurance can be daunting and complicated. That’s why our team of experienced advisors are at your service free of charge. Contact us today to get a free quote, plan comparison, and answers to all your questions!