International Health Insurance plans are typically comprehensive high-end medical plans that provide wider coverages with higher limits than other plans and cover the policyholder moving globally.
These plans are suitable for the global and mobile expatriate and may be purchased by the individual or the company when the local group employee insurance may not provide sufficient cover and flexibility for an expatriate and his family. International and proper health insurance plans are also particularly suitable for companies that regularly move their employees around different countries while trying to maintain similar levels of benefits for such employees. As such, companies also purchase these plans even if local group employee insurance provides great cover. This may also help to avoid the issue of pre-existing conditions not being covered, or having to deal with long waiting periods as the employee might face should they switch between different local group employee insurance plans.
International Health also provides the option of seeking medical treatment outside of Singapore — useful when you have employees that travel frequently for business while based in Singapore and may need medical treatment that cannot wait till they return. In short, international health plans provide flexibility and comprehensive coverage at a premium.
Inpatient care is any treatment where treatment is needed in a hospital or medical institution. This will usually require you to be admitted to the hospital overnight or longer. Inpatient benefits usually include daily ward and treatment charges; surgical fees and charges; Intensive Care Unit and treatment charges; Organ transplant etc
Outpatient coverage is usually an add-on feature for international health insurance. It covers you for medical treatment that does not require you to stay overnight in the hospital, for example, a visit to the General Practitioner, a specialist, or a therapist.
Most Insurers cover Emergency Dental procedures necessary to restore or replace sound natural teeth lost or damaged in an accident. Add-on is usually available for more comprehensive coverage.
This coverage covers the cost of pregnancy and childbirth. This coverage is usually for family plans, which cover the costs of routine pregnancy and childbirth. On top of this, some plans also provide coverage for newborn care, complications, and regular check-ups. One thing to take note is that some of the health insurance plans have a waiting period of up to 24 months, so plan ahead and if you’re planning on having a baby in the future, you should opt for the feature as early as possible to pass the waiting period. This would help you to save lots of money.
This covers emergency medical evacuations and repatriation. Typically, emergency medical treatment can be costly overseas, this coverage allows you to have peace of mind during your holidays.
You can fully customize the areas of coverage. For example, you can opt for “worldwide (excluding the US)” plans, which will help to reduce the premium pricing. If you foresee that you only travel in Asia most of the time and would only move jobs within Asia, you can also opt for an “Asia only” plan if that is available.
Most of the insurers offer a “deductible” option, which will allow you to lower your premium. The higher the deductible, the lower your premium. However, do bear in mind that in the event of any medical condition, you would have to pay the deductible amount before you can claim from the insurer.
Although International Health Plans are generally comprehensive, there are some which give you flexibility through add-ons rather than including everything in the basic plan. Dental, maternity, optical might be add-ons that you can include or exclude instead of having it automatically included in the basic plan.
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Disclaimer:
The information in this article is accurate as of 30 April 2020 unless otherwise stated. Whilst we endeavor to keep the information accurate and updated, GoBear makes no representation or warranties for the accuracy of the information in this article or content of any websites which may be linked.
This article is for informational and promotional purposes only; it does not constitute advice or recommendation and does not take into account your own individual circumstances. The information in this article may not be updated and you should always refer to the relevant Policy Wording and insurer. In the event of any inconsistency, the Policy Wording and/or information from the insurer shall prevail.
This article was first published on GoBear Singapore blog.
