How long can I be uncovered by health insurance?

For Singaporeans and PR, Medishield coverage automatically starts from the first Medisave contribution, although you can opt-in to commence earlier.

If you're a foreigner on a Work Permit or S-Pass, your employer must insure you with health insurance coverage of at least S$15, 000 per year right from the start of your employment. This is to be paid for by the employer, although there may be a co-payment component of up to 10% of your monthly income for non-work related claims.

Those on an Employment Pass aren't mandated by law to be covered by their company’s insurance and aren't required to purchase a policy, but it's advisable to get some coverage as soon as possible.

Are there any penalties for not being covered by medical insurance?

The government has measures to help lower-income individuals afford basic Medishield coverage, so anyone caught not paying for the premium will be dealt with the same severity as tax defaulters. This may involve a penalty of up to 17% of the outstanding premiums, paying back the interest lost to the Medishield Life Fund, recovering the amount from the defaulter’s employer or bank, or taking legal action against the defaulter.

If you're on a Work Permit or S-Pass and don't have any company health insurance coverage, your employer may be fined up to S$5, 000 or jailed for up to 6 months. You won't be penalised, though.

Private or public health insurance, which one should I choose?

Private insurance

Private insurance policies usually offer more comprehensive coverage for medical conditions and geographic locations, but you’ll need to pay a higher premium. Some also offer flexibility with add-on riders that extend the protection with critical illness or hospital cash coverage.

Public Insurance

Medishield is a mandatory national insurance that all Singaporeans and PRs need to purchase. Foreigners don't qualify for it..

You may enhance your Medishield coverage by purchasing an Integrated Shield Plan, which is offered by some private insurers in Singapore. Pay an additional premium either from your Medisave account or in cash, and you’ll be covered for more conditions and medical procedures, with a higher limit and better hospital accommodation.

HMOs

A concept similar to HMOs is present in a selection of clinics supported by private insurance policies, but there are no insurers that offer a HMO policy comparable to those in the United States.

Group Insurance

You may be covered by a group health insurance policy arranged and paid for by your employer. Usually covering most major treatment and shared ward accommodation in public hospitals, this may be sufficient if you don't intend to stay in Singapore after the end of your employment.

What’s the average cost of health insurance?

On average, expect to pay around S$1, 000 to S$1, 500 per annum for a policy that covers medical expenses of up to S$1 million per annum. For example:

Insurer	Coverage Limit	Coverage Location	Annual Premium
AXA	S$1, 000, 000(includes outpatient)	Singapore	S$2, 424
MSIG	S$900, 000	Singapore	S$888
Liberty	S$800, 000	Worldwide	S$1, 128

Some policies might offer a discount if you pay the annual fees upfront. If you intend to start the coverage as early as possible, you’ll need to transfer some money to Singapore to pay for your premium. TransferWise helps remit money from your bank account overseas into a Singaporean account and uses the same exchange rate shown on Google. This can save you the hefty fees charged by conventional money remittance services that's usually hidden from their customers. You can also maintain a borderless account on TransferWise, which lets you store up to 27 currencies on a single account, including the Singapore dollar.

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