5 Common Questions on Integrated Shield Plans for Expats - Answered

1. 5 Common Questions on Integrated Shield Plans for Expats - Answered

2. Integrated Shield Plans are private health insurance plans sold by insurance companies in Singapore. Offering comprehensive and diverse coverage, these plans are essential to have if you are an expat, as seeking medical treatment in a foreign country can be quite expensive. While Singaporeans and Permanent Residents (PRs) can rely on their MediShield Life coverage to a certain extent, you may require the steady assurance of an Integrated Shield Plan to protect yourself against the potential heavy costs of hospitalisation should you require it. 

3. To aid you in the process of understanding Integrated Shield Plans (IPs), we have answered 5 common questions that expats in Singapore normally have on this form of health coverage. 

4. 1. Should I purchase an IP if I am already covered by my company’s group health insurance?  In Singapore, employers are legally required to cover their expat employees under the company’s group health insurance plan. As such, you may already be covered to a certain extent. However, these group health insurance plans often have several limitations in terms of coverage. Furthermore, the plan will be restricted only to the time you are employed at a particular company. When you leave, the plan is likely to expire, and if you do not have an immediate job at hand, you may, unfortunately, be left without health coverage in Singapore. If something unfortunate were to happen to you during this period, you may have to fork out your hospitalization bills. Therefore, it is wiser to purchase an IP regardless of your company’s health coverage.

5. 2. What kind of coverage can I expect in an IP?  Understanding Integrated Shield Plans and the coverage they offer can help you choose the one that is most suitable for your needs. A good plan will cover you for hospitalisation costs and pre- and post-hospitalisation expenses for 180 days and 365 days respectively. You can also get coverage up to S million and have the option of getting planned overseas treatment covered as well.

6. 3. What would be the estimated annual cost of an Integrated Shield Plan for an expat? The annual costs of health insurance for expats in Singapore will depend upon several factors namely your age, the insurer you choose, your lifestyle, the kind of coverage you have opted for, and much more. IP premiums are based on your age next birthday and usually increase when you enter the next age band. For instance, individuals whose age next birthday falls in the 26-30 years age band may have to pay around S$ 462. As they enter the next age band and their age next birthday falls into the 31-33 years range, they may see an increase in the premium, of up to S$ 670. Younger individuals usually have lesser savings for medical expenses as the likelihood of getting hospitalised at a younger age is lesser. That is where a well-structured IP comes into view and helps cover the hospitalization costs should something unexpected happen. Some health insurance plans function differently. For instance, a critical illness insurance plan usually has a fixed premium that is decided at the age of purchase and remains constant throughout the policy term.

7. Some insurers have a claims-based pricing approach which enables you to get premium discounts if you maintain good health and do not raise any claims during a specified policy term. This encourages all to maintain a healthy lifestyle as much as possible and be rewarded in premium discounts.

8. 4. Will my IP cover me if I get treatment abroad?  Yes, there are some health insurance plans in the market that offer overseas medical treatment. Make sure you choose an insurer that covers emergency as well as planned treatment abroad.

9. 5. How can I submit a claim on my IP? An awareness of the claim process is an essential element of understanding Integrated Shield Plans as an expat in Singapore.

10. You have to submit the claim manually as opposed to electronically since hospitals do not have records of expats/foreigners. Usually, the process is quite simple: fill the claim form after downloading it from the insurer’s website and then mail the form along with the relevant documents to the address provided by the insurer. Some documents that you may require include the hospital bills, invoices, receipts, a copy of your passport, a copy of the eligible valid pass, and the clinical abstract application form duly filled. Your financial consultant can help you in the process. The claim process may differ according to the insurer and the kind of coverage you are filing a claim for. We hope that the answers here have helped improve your understanding of health insurance in Singapore. Do speak to a financial consultant for help in getting an Integrated Shield Plan as per your needs and budget.

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