Medical insurance in Singapore is a necessary form of protection for individuals and families. With the rising costs of medical care, it can be difficult to stay ahead of expenses related to doctor visits and treatments. A good medical insurance plan helps you stay financially prepared for unexpected health-related events and provides peace of mind when seeking treatment. With so many providers available in Singapore, it is important to understand the different types of coverage offered before making a decision on which plan best suits your needs.

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Types of Medical Insurance in Singapore

In Singapore, there are several types of medical insurance plans that are available to citizens and residents. Each type of plan offers different levels of coverage and protection, so it is important to understand the differences between them in order to choose the one that best suits your needs.

Private Health Insurance

Private health insurance provides coverage for medical expenses, including hospitalization and surgery fees, doctor visits, prescription drugs and other related costs. It is purchased directly from an insurance company or through a financial adviser or broker. This type of plan offers extensive protection against high healthcare costs but usually comes with high premiums as well as deductibles and copayments that you will need to pay out-of-pocket.

Integrated Shield Plans (IPs)

Integrated Shield Plans (IPs) are comprehensive health plans that combine private health insurance with government subsidies from MediShield Life for more comprehensive coverage than what basic MediShield Life offers alone. IPs provide better protection against large hospital bills with higher limits on daily wards rates and payouts for certain treatments like chemotherapy or dialysis, as well as coverage for pre-existing conditions with no waiting period required before making claims. While IPs offer more comprehensive coverage than private health insurance, they can also be more expensive.

ElderShield and ElderShield Supplement Plans

ElderShield and ElderShield Supplement Plans are designed to provide financial support to Singaporeans who require long-term care due to severe disabilities. The ElderShield scheme is a government-run disability insurance scheme that provides basic coverage for those aged 40 and above. Those who want more comprehensive coverage can purchase an ElderShield supplement plan from an approved insurer.

MediSave Shield Plans

MediSave Shield Plans are a type of health insurance plan that is designed to supplement the government’s MediShield Life scheme. These plans are purchased with funds from your MediSave account and offer more comprehensive coverage than basic MediShield Life, including higher annual limits and no co-insurance or deductible.

Benefits of Medical Insurance in Singapore

Medical insurance is a hot topic in Singapore with healthcare costs continuing to rise. As the cost of medical care continues to climb, many are turning to medical insurance as an effective way to manage their healthcare needs and protect their finances. Here we look at some of the major benefits that having medical insurance can bring in Singapore.

Access To Quality Healthcare

Medical Insurance allows you access to quality healthcare facilities and specialists without having to worry about the financial burden associated with it. With health plans that cover hospitalization, medication, surgery and other treatments, you can rest assured knowing that you won’t be left with hefty bills if something unexpected occurs.

Cost Savings

With medical insurance, you can save money on doctor visits and prescription drugs which can help keep your overall out-of-pocket expenses down significantly. Depending on the plan chosen, some policies may even provide coverage for preventative care so you don’t have to pay for checkups or screenings out of pocket either.

Flexible Coverage Options

There are a variety of medical insurance plans available in Singapore offering different levels of coverage depending on individual needs and budget constraints. This means that no matter what your circumstances may be there is likely a suitable plan available.

Eligibility Criteria for Medical Insurance in Singapore

Singapore is a country that puts great emphasis on health and wellness. As such, it has created a comprehensive medical insurance system to ensure that all citizens have access to the healthcare they need. To qualify for medical insurance in Singapore, you must meet certain eligibility criteria. 

In order to be eligible for medical insurance in Singapore, you must first be a resident of the country for at least six months or more. This means that if you are planning to move to Singapore, you will need to wait six months before applying for any type of medical insurance coverage. Additionally, those who are already living in Singapore and wishing to apply for coverage will also be required to provide proof of residency with their application form. 

You must also be employed in order to qualify for medical insurance in Singapore. Those who are unemployed or retired may still apply but may not receive the same level of coverage as those who are employed full-time or part-time workers. Furthermore, it is important that your employer provides some type of group health plan as this will ensure that you have access to quality healthcare services and treatments when needed. 

The third eligibility criteria is income related; individuals must earn at least SGD$13000 per month or SGD$15000.

Cost of Medical Insurance in Singapore

The cost of medical insurance in Singapore is an important factor to consider when planning your health care needs. With the rising cost of living, it is important to make sure that you are adequately covered for any medical costs that may arise. In Singapore, there are a variety of different types of medical insurance plans available to suit different needs and budgets.

One type of medical insurance plan available in Singapore is the Integrated Shield Plan (IP). This plan covers almost all hospitalization costs, including treatments and hospital stays. It also covers certain outpatient treatments such as GP visits, specialist consultations, surgery and scans. The premiums for this type of plan can range from S$150 per month up to S$2,000 depending on the coverage chosen. For more comprehensive coverage, some insurers offer riders which can be added onto your policy for additional protection against specific illnesses or conditions at an additional cost. 

Another form of medical insurance offered in Singapore is known as a High Deductible Health Plan (HDHP). This type of plan requires you to pay for most or all out-of-pocket expenses up until a deductible amount has been met before the insurer contributes any payments towards your treatment costs. HDHPs usually have lower monthly premiums than IPs but come with higher out

How to Apply for Medical Insurance in Singapore

Medical insurance is a must-have in Singapore. It helps protect you and your family against financial losses if you become ill or injured. Applying for medical insurance in Singapore can seem overwhelming, but it doesn’t have to be. This article will provide a step-by-step guide on how to apply for medical insurance in Singapore.

Step 1: Choose an Insurance Company

The first step to applying for medical insurance is choosing the right insurer. There are many different insurers available, each with its own unique set of policies and benefits. Make sure that you research each insurer thoroughly before making your decision so that you can get the best coverage possible to suit your needs. Additionally, take into account any discounts or promotions that may be available from each insurer before making your final decision. 

Step 2: Research Different Plans and Policies

Once you’ve chosen an insurer, it’s time to start looking at different plans and policies they offer so that you can find the one which best suits your needs. Be sure to read through all of the terms carefully as some plans may not cover certain types of treatments or expenses related to illnesses or injuries – such as pre-existing conditions – while other plans may provide additional coverage.


Medical insurance in Singapore is an important and necessary form of protection for anyone living in the country. It helps to ensure that those who require medical care can access it without fear of financial ruin. By comparing different policies and understanding the various coverages available, you can ensure that you get the best coverage possible at a reasonable price. With the right policy in place, you can enjoy peace of mind knowing that your health is well-protected.