How Do Expats Get Health Insurance part 1 – that will be the topic of today’s article.

Before introducing this article, if you are interested in our core services which are expat financial, insurance and mortgages, you can contact me here. 

The best time to consider your financial situation is when you are moving to a new country.

Introduction

Getting health insurance abroad is something that many expats have to consider. Like anyone else, they are likely to need medical attention at some point during their time overseas. Seeking this treatment can be expensive, however – even in countries where healthcare is relatively cheap.

Therefore, expats need to find themselves a good health insurance package. This will ensure that they can see a doctor or visit a hospital without paying too much money. It’s also worth noting that most healthcare providers won’t hand over prescriptions unless a patient has a health insurance policy.

This begs the question: how do expats best go about getting themselves a suitable insurance package? Well, there are a number of ways they can go about this – but these need to be approached with caution.

One way is to buy online. There are several websites that offer insurance packages, with most being surprisingly affordable. It’s also possible to purchase a policy directly from a medical professional. However, expats will have to visit their doctor in person to get this done.

Not to worry about everything needed to get health insurance as an expat. We’ve got you covered in this article. In fact, we’ve compiled several ways to get health insurance as an expat. Would you love to know the different kinds of companies for your relocation abroad? Read further as we’ve unleashed some of the things you’ll find nowhere!

What You Don’t Know About Expats Health Insurance?

In today’s fast-paced world, people are on the go more than ever before. Far from home and far from family, expats often find that health insurance is a major concern for their everyday wellbeing.

Many expatriates don’t realize that options can meet their needs and keep them covered with affordable healthcare premiums if they have a pre-existing condition. Here are five things to be aware of in your search for the right expat’s health insurance plan.

The Affordable Care Act

Healthcare reform in the United States has changed a lot in recent years. For expatriates, these changes can mean that healthcare coverage is now considered affordable even if you have a pre-existing condition. It may be possible to enroll in a new health insurance plan through the Healthcare Marketplace and still meet your current country’s healthcare requirements for living abroad.

These International Health Insurance Plans are a great option for expats who will need local coverage as well, so they can continue to receive medical treatment near their international assignment or overseas home.

In some cases, the Affordable Care Act can even be beneficial to expats who are leaving their home country for the first time. People who find themselves in this position may not have had an opportunity to build up a medical history with local healthcare providers yet.

Since most international health plans now meet the requirements of the Healthcare Marketplace, it now means that they also include coverage for pre-existing conditions. This means you can find healthcare coverage without worrying about paying high premiums, which will allow you to adapt to life in your new country faster and with less stress.

Maximize Your Monthly Benefits

Another good reason for expats health insurance is that many plans don’t have a maximum lifetime benefit, so you never have to worry about how much coverage you will need during your entire stay abroad. Plans also differ in the types of benefits they provide, so it is important to find one that will suit all of your needs as well as those of your family members.

From separate plans for individuals and families to international health plans, which include dental coverage as well as medical care, there are many options to choose from when you need expats health insurance. With the right plan, you can even find coverage for emergency medical transportation in case of an emergency during your overseas travel.

The Right Coverage at the Right Price

Before you sign up for any particular international healthcare plan, it is important that you know all of the details involved.

Whether you end up choosing an individual or family plan, be sure to know what the maximum monthly benefit is as well as the deductibles and co-payments. You also want to make sure that you will be covered for any non-emergency medical care, such as regular checkups and prescriptions.

A Plan That Works For Your Lifestyle

Not all expat health insurance plans are the same, so it helps to understand what each plan offers. Some plans might offer more coverage for emergency care, while others may have lower premiums but higher deductibles.

The best way to choose an international health plan that works for your lifestyle is to have a detailed conversation with an agent specializing in private healthcare coverage. By comparing plans, you will find the one that offers both quality coverage and affordable premiums.

Rely on an Agent That Knows the Industry

The good news for expats is that it has become much easier to find health insurance coverage at competitive rates. However, it is still important to ensure that your agent knows the industry well enough to provide you with the most comprehensive coverage possible. For example, an agent might be able to find a plan that includes international coverage and medical evacuation benefits if needed.

7 Ways to Get Health Insurance as an Expat

It’s no secret that expats often pay a lot of extra attention to the health risks they face in foreign countries. Expats are more likely to seek doctors for routine examinations, faster diagnoses, and preventative care.

This heightened awareness makes them more likely to contract diseases or injuries that can be prevented by taking precautions against dangerous food, air, and water contaminants. However, the biggest dangers for expats come from the risk of injury or illness that requires medical treatment in a place without their home country’s level of healthcare services available

 Expats know they need insurance to avoid incurring costly hospital bills for even minor illnesses or injuries. But where do you find good expat health insurance? Here are seven ways to find the right plan.

1.      Talk to Your Employer

Some employers provide health insurance as part of the compensation package for their employees, and many offer it as an option during enrollment periods.

Employers that receive tax breaks or subsidies may be required to provide healthcare services under Obamacare, which means they have to offer their employees the option of at least one plan from a state or a federally-sponsored health insurance marketplace.

This can be an excellent way for expats to get comprehensive healthcare coverage at a lower price than what they’d normally pay as a non-employee.

2.      Look into State and Federal Program​s

Some state and federal programs help expats pay for health insurance premiums. These typically have low or no monthly premium payments, but the coverage isn’t usually comprehensive. Expats who don’t have U.S.-based employers looking out for their best interests might not be able to afford healthcare at all if they rely on these types of programs.

3.      Choose an International Provider

While some international providers don’t have the best track records, others offer excellent health insurance plans for expats worldwide. In addition to providing comprehensive coverage options and broad provider networks, good choices include employers who have offices in multiple countries so their employees can get fast diagnosis and treatment across borders.

4.      Trust a Global Network

The largest providers of expat health insurance offer the broadest coverage networks, which means that employees who frequently travel for work can get treatment in any country they visit without worrying about whether or not their insurance will cover it.

Expats with multiple international job positions could end up using every major medical treatment facility their policies cover, and they can feel safe knowing their provider has a vast network of specialists and hospitals at their disposal.

5.      Compare Carriers

It’s always a good idea to look over the major players in any market by comparing insurance providers head-to-head for benefits like wellness programs, preferred provider networks (if available), and customer satisfaction.

Expats should also pay attention to which countries their providers are active in and how much they can expect to pay for rates that aren’t subsidized by the government or employer contracts.

6.      Check-In With the U.S

Expats should call their current health insurance provider in the United States to ask if they have a plan to cover them when they’re outside of the country’s borders for an extended period.

Depending on what type of coverage is available, expats might be able to add themselves to a family member’s plan or make a few simple changes that allow them to get excellent health insurance coverage whenever they travel.

7.      Speak With an Agent

 Expats should always get the help of an independent agent when searching for and enrolling in healthcare plans. While these professionals might earn commission from some companies, they’re still committed to getting the employer the best coverage possible.

Flexible spending accounts, multi-policy discounts, and one-time bonuses are just some of the perks that agents can offer employers after they’ve enrolled in plans with their help.

Before introducing this article, if you are interested in our core services which are expat financial, insurance and mortgages, you can contact me here. 

The best time to consider your financial situation is when you are moving to a new country.

Introduction

As an expat moving to Singapore for the first time, you should consider buying health insurance.  After what you might have heard about how Singapore is safe, modern, cosmopolitan, and has a high standard of healthcare, you’ll just be fine. So, why bother with the best health insurance in the country?

Well, having health insurance is essential when you’re traveling to a new country. In our previous post, we talked about health insurance benefits while traveling to a new country. If you’d love to understand the process better, kindly jump-back to the post and read it before proceeding to this article.

However, you may need to understand Singapore’s healthcare system. Aside from this fact, you should know that it’s affordable for Singaporeans because they qualify for generous subsidized rates. More so, the public healthcare system involves long waits and can sometimes be a bit too basic for comfort.

On the other hand, private healthcare is good. And as an expat, you can usually see a doctor on very short notice. So, it is very expensive by any standards no matter where in the world you’re from. Have you been surfing the internet to understand more about AIA insurance? Well, we’ve got you covered!

In this article, we will walk you through the health insurance plans foreigners can choose. Not only that, but we have compiled this article to explain all the information you need to know about AIA insurance in Singapore, why it is different from other insurance companies, and many others. Read further to know more!

Health Insurance Plans Foreigners Can Choose From

There are three types of health insurance plans that foreigners can choose from in Singapore. In this section, we will walk you through the health insurance plans. Also, don’t forget these plans are divided according to what they offer expatriates. Without further ado, take a look at the health insurance plans.

1.    Integrated Shield Plans in Singapore

These integrated shield plans are the ones that originated from local insurance providers aimed at a local clientele. This type of insurance plan is meant to be used together with MediShield Life, the basic national health insurance plan that Singaporeans are automatically enrolled in. while expat do not receive MediShield Life coverage, they are still eligible to purchase these local insurance plans.

2.    International Health Insurance (Local Providers)

Some local insurance providers offer international health insurance plans, especially for expats. These shouldn’t be confused with integrated Shield plans, which are local policies. In this case, ensure you clarify this with the insurer before making any further action like payments, agreements, and others.

3.    International Health Insurance Plans

International health insurance is the best one to choose as an expat in Singapore. These types of plans are provided by insurers that are not based in Singapore alone. And of course, there’s also the employer’s group insurance plan and the existing health insurance policy. However, it’s essential to check the extent to which they will cover you and your dependent’s healthcare costs here in Singapore.

Pros and Cons of Buying an Integrated Shield Plan

When it comes to insurance and its terms, the benefits of knowing what an integrated shield means cannot be overemphasized. They provide coverage on top of your MediShield Life. Some may cover you for a higher-type ward (A/B1) in a public hospital, while others cover admission into a private hospital. In this section, we have compiled some of the pros and cons of buying an integrated shield plan. Check it out!

Pros

Affordability

Affordability is one of the reasons why you should get an integrated plan. This is because; they’re meant to be used mainly in Singapore; their premiums plan also tends to be a whole lot cheaper than those of international health insurance.

However, a 35-year-old expat can expect to pay around $600 to $700 annually for an integrated Shield plan. Here, you’ll have the options to add on a rider that covers your deductible and caps your out-of-pocket costs to $3,000 a year. This means, with a rider, your annual health insurance premium could sum up to about $1,000 to $1,200

Enough Overseas Coverage

This is another thing to put into consideration. International health insurance typically offers coverage in entire regions or even the whole world. Here, it’s not really necessary for many expat, but many integrated Shield plans will provide you with some form of coverage for overseas emergency treatment. Also, for short trips, you’ll probably have travel insurance coverage as well.

Cons

Only Hospitalisation Coverage

Integrated Shield plans also tend to be rather basic as it covers bills arising from hospitalization. Not only that, but they do not include outpatient treatment, dental treatment, yearly eye check-ups, or maternity cover. On the flip side, you’ll have the option to add such coverage to an international health policy.

Co-payment Portion

Another downside of this integrated Shield plan is that there’s always a co-payment portion that you can’t avoid as an expat. Although you can buy a rider to try to reduce it as much as possible, but deductibles apply to international health insurance plans.

Limited Overseas Coverage for Expat

It’s no doubt that integrated Shield plans can let you make claims for hospitalization costs incurred abroad, but that’d only be in emergencies and subject to limits. Therefore, if you’re frequently absent from Singapore for long stretches or prefer to seek treatment in your home country, you’ll be better protected with international health insurance.

Expat Health Insurance Coverage in 2021

The expat health insurance coverage is the things that the expat health insurance covers. Before we dive into what AIA insurance entails, it’s crucial that you know the benefits derived from international health insurance. Without further ado, below are the expats health insurance coverage in 2021.

●        Outpatient Treatment (Expats)

Most international insurance plans for foreigners often include common outpatient treatments such as kidney dialysis, cancer radiotherapy, chemotherapy, and many others to their insurance package. On the flip side, other claimable outpatient treatments include immunosuppressants for organ transplant patients and long-term parenteral nutrition, which you may know as tube feeding.

●        Expat Travel Emergency

While local health insurance largely offers you medical coverage when you’re physically in Singapore, some international plans may provide overseas emergency medical coverage in life or death situations such as emergency medical treatments or evacuation.

●        Pre-hospitalization

This is another benefit to look out for when you’re planning to enroll in an international insurance company. Besides, if your hospitalization stay and the treatments you receive during your stay have all been approved by your insurance company for claims, then you can start filling your pre-hospitalization treatments for insurance claims or offers.

●        Post-Hospitalisation

After you might have been discharged from the hospital, international health insurance will also cater to your needs. This means you’d be given medical treatments or regular prescriptions, and if your doctor referred you to an insurance-approved clinic, you would be able to claim these post-hospitalization treatments’ bills as well.

Choosing the Best Health Insurance

We understand that health insurance comes with numerous benefits, riders, options, and variations. However, it’s always complicated to choose the right one. But, instead of trying to compare all the available plans and their benefits, you should check this method to pick the right insurance company.

Your Need is Essential

If you found yourself in Singapore, one first thing you should know before choosing the insurance company is your need. Instead of trying to compare all available plans and all their benefits, you should evaluate your personal health status, family medical history, personal medical history, and more to pick out and compare the benefits that you think are important to you.

Riders and Deductibles

Riders and deductibles are other things to consider when choosing the best health insurance. Also, one thing you need to ask yourself is; what’s the amount you must pay out of pocket before your coverage kicks in? Well, out-of-pocket costs may include specialist visits, procedure fees, and in some cases, even prescription. Therefore, be sure to check with your insurer to know if the plan has either a single or a separate deductible for prescriptions to know the amount you’ll pay before the medicine are covered.

Coinsurance or Co-pay Factor

This is another factor to put into consideration while choosing the best international health insurance company. Are you aware of other costs that you may be required to pay in the long run? If that sounds like a no, don’t forget that you may be responsible for other out-of-pocket expenses even after you reach your deductible.

Who Needs Health Insurance in Singapore

While Singapore has a high standard of the healthcare system, the cost of healthcare is equally high in this country. Hence, it is highly recommended that you have a health insurance plan that allows you to access local healthcare facilities whenever you’re going. Take a look at the people who need health insurance.

Work Permit or S-Pass

If you’re a foreigner on a work permit or S-Pass, your employer must insure you with health insurance coverage with a minimum annual coverage of about S$15,000. Also, the health insurance coverage should be fully paid for by your employer. But, there may be a co-payment of up to 10 percent of the employee’s monthly income for non-work-related claims.

Foreigners with Employment Pass

For foreigners with an employment pass, employers don’t need to insure you with health insurance. This way, if you’re not covered by any corporate health insurance or other types of health insurance coverage, it is highly advisable to get yourself some coverage in the country.

Private Health Insurance

If you’re a frequent flyer looking for a health insurance plan that will cover your medical expenses around the globe, you’ll need to purchase international health insurance from different private insurance companies. Therefore, it’s always better to choose the right healthcare insurance in Singapore.

AIA Health Insurance in Singapore

AIA Singapore is an outpost of the multinational insurance and finance corporation AIA Group Limited in Singapore. This company has its headquarters in Hong Kong, and it was founded in 1919 as American Asiatic Underwriters.

Over the years, it has grown across 18 Asia-Pacific markets and is now the largest independent publicly-listed Asian life insurance group. In addition, AIA has been in Singapore since 1931 and now offers ten categories of personal insurance for individuals alongside employee benefits insurance for businesses.

Why Choose AIA Insurance Singapore Today

Since we’re talking about AIA insurance review, you should understand why this insurance is different from others in the country. Why do you think AIA is the best?  Would you love to go for their services rather than choosing others? And if you’d love to know why check out the reasons we’ve listed below.

1.    AIA HealthShield Plan

AIA HealthShield Gold Max is AIA Singapore’s flagship Integrated Shield Plan (IP), meant to complement your MediShield Life plan in the country. This plan allows you a maximum annual claim limit of about S$2 million, up to 13 months of pre-and post-hospitalization benefits, medical concierge, and several add-on riders. Not only is that, but AIA HealthShield Gold Max is a MediSave-approved integrated Plan.

2.    AIA Panel Clinics

The AIA Quality Healthcare Partners (AQHP) is another thing you’d love to choose the AIA insurance company. It lists preferred 290 doctors and clinics with predetermined outpatient consultation fees, 3-day appointment lead time, and an in-app appointment booking system via the AIA Healthcare mobile app, which can be downloaded on the Apple App Store or Android Google Play store.

To book an appointment via this app, simply open it, browse through the list of doctors or search for your doctor or clinic’s name.

3.    AIA Mum2Baby Protect

Base whole life plan offers critical illness coverage, multiplier boosters, cash value accumulation, and bonuses. Aside from this fact mentioned,  you should know that pre-natal rider offers S$100 to S$10,000 coverage for ten pregnancy complications, hospitalization, death for the mother, medical negligence, premature birth, and HFMD for the baby, and many others, to mention a few.

Types of Insurance AIA Offers

As of the time of writing this article, AIA offers a total of insurance for individuals and businesses, namely medical, life, hospitalization, personal accident, critical illness insurance, and many more. In this section, you’ll find an overview of each type of insurance. Without further ado, check it out below.

●        Life Insurance Coverage

Life insurance coverage is one of the types of insurance AIA offers.  In this insurance company, there is two primary types of life insurance. The first one is the term insurance plans that offer you coverage for a fixed term of time determined by you.

Not only that, but the whole life insurance, on the other hand, covers you for life or until the stipulated date in your policy. Also, AIA offers seven types of life insurance plans ranging from the AIA Guaranteed Protect Plus (II), Lifetime Protector, Secure Flexi Term, and more.

●        Medical Insurance Coverage

Medical insurance plans can help you to alleviate hefty medical and hospitalization bills in the event you run into an unexpected medical condition or emergency in the country. Meanwhile, in Singapore, all citizens and permanent residents are automatically enrolled into the governmental MediShield Life offered by the country’s ministry of health.

●        Accident Protection in AIA

Why do we need a personal accident insurance plan? Of course, accident protection insurance helps individuals alleviate hefty emergencies, long-term medical treatment bills, and any loss of income arising from unexpected accidents. Aside from this fact, AIA offers four years of personal accident plans such as AIA Solitaire PA plus offering you salary compensation and financial security for your family in the event.

●        Saving Insurance Plan

Savings insurance is a system that requires you to pay your preferred amount of premium annually for a fixed number of years, e.g., 5 or 10 years. Your policy and the total amount you have deposited then take another set number of years to mature.

In this case, it may then regenerate a certain amount of interest per annum or bonuses as well. Therefore, once your policy has matured, you will be able to withdraw the total sum. Besides, AIA offers ten different types of savings insurance policies to suit your age group, cash flow needs, and budget.

●        Retirement Coverage

Do you think that retirement insurance plans are essential? Yes! They are an indispensable option for work or not as you approach your golden years as it requires early planning. If you have a mortgage-free home, your debts paid off, you can calculate your retirement needs via the AIA retirement calculator.

●        Disability Income Protection

These disability income protection insurance plans offer you monthly payments if you run into accidents or illnesses that cause partial or total disability. These plans are important if you work in injury-prone manual labor industries or operate heavy machineries and maybe the family’s sole breadwinner. Again, AIA offers a termed Premier Disability Cover plan for individuals aged 16 to 60, offering lump-sum or monthly pay-outs, income top-ups, and paybacks, and many others.

●        Critical Illness Insurance

Have you been asking yourself if you need critical illness insurance? Well, worry less as AIA got you covered. Moreover, critical illness insurance serves to lighten your medical expense burden if you’re diagnosed with a critical illness that demands costly and long-term treatments.

Also, AIA offers six critical illness insurance plans such as the Power Critical Cover, a whole life plan which allows you to claim medical bills for early, multi-stage, and relapse of 150 critical illnesses, death, and diabetes. Aside from this fact, AIA Multi-Stage Cancer Cover, on the other hand, offers you a lump-sum pay-out.

●        AIA Investments

AIA investment-linked insurance plans are basically life insurance plans with an investment element added to them. Just like any life insurance, you and your family will be offered a financial pay-out when there’s an event of disability or death.

On the flip side, when you pay your premiums for your investment insurance plans, these premiums will be automatically used to purchase units in your preferred sub-funds portfolios that match your risk appetite.

●        Travel and Lifestyle in AIA

AIA’s around the world offers several travel insurance plan which you can purchase for single, annual, or multiple trips online or via your AIA agent to claim medical and hospitalization expenses that could arise from accidents, injuries, or illnesses while abroad, money or document loss. Also, travel insurance aside, AIA offers home and property protection insurance, domestic helpers or maid insurance, and pet insurance plans as well.

Frequently Asked Questions about AIA Insurance

Can foreigners buy AIA insurance in Singapore?

Of course, yes! Foreigners can buy AIA insurance in Singapore. In fact, foreigners can choose to purchase an expat health insurance in the form of an integrated Shield Plan for foreigners, offering access to and coverage for medical treatments and expenses within Singaporean hospitals and medical facilities.

What kind of Insurance do I need in Singapore?

If you found yourself living in Singapore as an expat or locals, you should have five types of insurance. This insurance include; life insurance, health insurance, personal accident insurance, critical illness insurance, as well as the income disability insurance plan.

What is the AIA deductible in Singapore?

Well, not to worry! Deductibles, as said earlier, are a fixed amount you have to pay for the medical expenses incurred as cost-sharing. Here, you’ll have to pay the first RM300 out of the eligible expenses for anyone’s disability, and the company will pay for the rest of the eligible expense. This means your coverage begins immediately after your premium payment is confirmed.

Does AIA cover medical check-ups?

Well, we can tell you that AIA will only pay the eligible medical expenses up to an amount the company considers reasonable and customary, provided that the medical care is medically necessary. More so, it comes with comprehensive medical coverage that protects you against escalating medical costs.

Conclusion

AIA insurance is one of the best international health insurance in Singapore. They offer incredible coverage and services, as mentioned above. Also, they encourage and reward their customers for leading and living a healthy and active lifestyle. So, what are you waiting for? Navigate to their platform now to begin.