What Should You Know About Singapore's Healthcare Insurance?

1. What You Need to Know About Healthcare Insurance in Singapore? Healthcare in Singapore is excellent but expensive and this is why the government has made basic insurance mandatory for people living in this country, whether they are citizens, permanent residents or foreigners. This insurance is known as Medi Shield and provides for hospitalization expenses in the regular wards in public hospitals. However, if you want more comfortable wards and the specific facilities provided in some private hospitals, you will have to buy a hospitalization plan Singapore from private insurance providers. These plans are known as riders and provide different types of coverage, some of the better riders include cover for out-patient treatment before and after hospitalization. Then again you can also buy health insurance for your entire family. Then again insurers also provide health insurance to companies, for their employees. When it comes to providing insurance to businesses and employers they make sure that their employees are covered for better facilities than the most basic care covered by the government. Then there is the global medical insurance wherein Singaporeans are covered by health insurance even if they travel abroad. Insurance companies in Singapore don’t just provide hospitalization plan Singapore for individuals and families, instead they also provide services to businesses and employers. One of the interesting services they provide is the third party administration which means that they provide the insurance claims administration to employers who provide insurance to their employees in house. Their employees pay cash at any one of the appointed clinics and then get the medical bill reimbursed by their employers. It can be quite complex to administer claims some times, especially when the companies provide flexible employee benefits requiring complicated and detailed administration efforts. In this situation, outsourcing their claims administration to a private insurance company will save them the extra full time resources that they would have to employ for this task. Hence you can see that the healthcare insurance in Singapore is good for individuals, families and businesses.