Although many companies provide health insurance for their employees, these packages don’t cover everything. This checklist will help you see if your current health insurance is right for you.
Corporate health coverage varies from company to company. Medical care in Singapore is expensive, so it is important to know what is and isn’t covered so you can plan for additional expenses or get extra cover.
Dental coverage
Do I have dental coverage? Dental care is usually not covered by company-provided health plans, so this is probably one of the first things to look at.
What are the limits? If you do have dental coverage, check your annual treatment limits, as they can range from anywhere between $250 to $8000 which might not be enough if a family member requires interventions in the future.
How long do I have to wait? Once you have purchased a dental plan, you may need to wait a certain amount of time until you can actually use it (and this time limit is sometimes different depending on the procedure - up to two years in some cases).
Travel
Am I covered outside of Singapore? Health cover abroad may not be included in your plan, or there may be exclusions for countries where healthcare is expensive (e.g. the US).
I have travel insurance. Will it be enough? Keep in mind that activities such as hiking or watersports may need additional protection. When in doubt, contact your insurance provider.
Maternity
Are you planning to have a baby? Check your employee benefits. If you get maternity insurance, you may need to wait 12 months to be able to use it.
Pregnancy using assistance: If you get pregnant through IVF, artificial insemination or using fertility medication, pregnancy care may not be covered.
Treatment limits: Care for a premature baby costs SGD$1000 a day, so it is important to check if you have a treatment cap on your policy.
Screening & prevention
Can I access screening? Health screening is included in some employee plans, as disease prevention can also benefit the employer financially in the long run. Ask your company if you are not sure about your coverage.
What illnesses can be detected? Health screenings detect conditions such as high cholesterol, diabetes, some types of cancer and heart disease.
How much is enough? There are many options available. Early detection and prevention has to be tailored to your needs. Depending on your lifestyle and family history, you may want to consider an essential or a comprehensive health screen package.
When thinking about healthcare coverage you need to consider possible costs and how much cover you need for your peace of mind. As with any type of insurance it is a cost vs risk calculation. If you want further advice, you can contact specialist brokers such as Expat Insurance to look at options and ensure you and your family have the coverage you need.
