Singapore is considered to be a center of medical excellence in Southeast Asia.
Hospitals and medical services generally have the same level as in developed Western countries.
In addition, foreigners have access to Singapore health insurance policies, accessible if they work with a valid visa.
Allianz Worldwide Care, in partnership with Allianz Global Corporate & Specialty, with worldwide coverage, offers solutions to meet the needs of both expatriates and expatriates moving to or living in Singapore.
We can also find international health insurance like MUTUA MADRILENA (Allows you to choose a specialist anywhere in the world, with four capital limit options), SWISSCARE (SwissCare Expatriate Medical Insurance is designed to cover medical expenses incurred while living or working in another country) and CIGNA (CIGNA Expat Health Insurance provides international medical care for you and your family with plans that are completely flexible and tailored to you).
Singapore has achieved great notoriety is the health, this is due to total spending on health as a percentage of GDP is 4.7%, which places it below not only large health investors like the United States (17.9%), Or Germany (11.3%), but the world average of 10%.
This is because, in Singapore, the state covers only a quarter of total expenditures to the health system through taxes and funds. This system requires that citizens take responsibility for their own health and devote part of their income to cover their health insurance. This is done because the state forces its citizens to save to cover their health expenses. However, those who can not afford the costs of a health service, the state provides subsidies.
ABOUT THE GOVERNMENT’S HEALTH INSURANCE
Both Singaporeans and permanent residents are entitled to subsidized health services provided through government health centers.
Depending on several factors, the percentage of the subsidy can vary from approximately 50% to 80%. In addition to assisting in the co-payment of the medical account balance, there are other factors that reduce costs such as the compulsory savings plan called “Central Providence Fund”.
PRIVATE HEALTH INSURANCE
In the case of foreigners working in Singapore, being exempt from CPF contributions do not have access to the government-subsidized health insurance system, although they may opt for fairly affordable private health services, even for those who have no insurance of health. However, it is recommended to take some private insurance to handle costs in case of serious illness.
There are a variety of options and competition among internationally recognized health insurance companies is considered by experts to be “healthy”.