Health

Health insurance coverage pays the medical or surgical expenses incurred by the insured. Health insurance policy provides financial protection in an event of accident, illness, or disability. It can cover the cost of your medical treatment or nursing care as well as provide an income while you are hospitalized or disabled.  

In general, health insurance policy provides benefits such as: 

• All inpatient benefits are covered up to 100% 
• Outpatient benefits are covered up to 100% with a modular annual maximum 
• Dental and optical benefits are covered with a high annual maximum 
• Medical check-ups are covered 
• Worldwide emergency medical assistance, evacuation and repatriation

Health insurance is one such policy that is a must have for everyone irrespective of the age as serious illness or unexpected accidents can happen to anyone. However, citizens of Singapore are already covered by MediShield Life, a compulsory health insurance scheme by the government that pays for basic public hospital treatments. It provides flexibility to opt for a better type ward or private hospital by upgrading to an Integrated Shield Plan with wider coverage. 

Besides the Singaporeans, Expats in Singapore should consider buying health insurance if you find yourself in one of the following situations: 

1. You already have an employment contract in Singapore and your employer offers health insurance. However, you wish to expand your coverage as you feel the company-sponsored plan is inadequate. 
2. You have started a business in Singapore and do not have a health insurance plan. 
3. You are a trailing spouse who has followed your partner to Singapore, or are married to a Singaporean or PR. You are not covered by health insurance. 
4. You have dependents such as children or a non-working spouse who are not adequately covered by health insurance.

Although each benefit plan is different, depending on the sponsor's needs, and depending on state regulations (each state has its own insurance commissioner), there are services that are typically not covered by most health insurance plans such as:

1. Cosmetic procedures that improve someone's exterior appearance, such as plastic surgery and some dermatological procedures, are often not covered by typical plans
2. Fertility treatment costs aren't covered by health insurance
3. Off-label prescriptions may not be covered by health insurance

Under development.

Switching policy provider at the time of renewal, that is when your current insurance is near expiration, is straightforward. However, it's important to maintain the continuity of coverage while switching insurance providers. Our team at BLACAZ is always eager to assist you, so get in touch if you have any concerns.