What is Health Insurance?

Types of Health Insurance:

Do Business need to have health insurance for their employees?

Providing medical benefits is not just a matter of compliance or a nice-to-have. For small businesses, where each team member's contribution is critical, the health and well-being of employees will impact the organisation's performance.

A survey by the Society for Human Resource Management (SHRM) shows 88% of employees deem health-related benefits as “very important” or “extremely important.” Research has also shown that enhanced employee well-being contributes to greater productivity, heightened customer loyalty, and better profitability at the business-unit level.

Do I need to buy individual health insurance?

The state's goal is to ensure that every citizen is cared for at a minimal basic level. That is the role of MediShield Life. Every citizen should have access to a minimum of government facilities. The company's role is that of providing for employee benefits to their employees while they are in the company's employment. This usually is superior to that which is provided for by the government. Ultimately, it bears down to the individual themselves. If they want better coverage, or continuity of medical insurance coverage post retirement, they should take responsibility and plan by purchasing suitable medical insurance plans for themselves.

What if I am an Expatriate?

As an expatriate, you would have no access to public health insurance in Singapore and are relying solely on the health benefits provided by your employer. Hence, we strongly advise all expats in Singapore to consider getting covered under a private health insurance plan in order to be more well-equipped against unforeseen medical or hospitalisation expenses that specifically are not covered.