How to compare health insurance without looking only at price

Do not compare health insurance on premium alone. A cheaper policy can become expensive when its hospital network, claim limits or exclusions do not match the care you expect to use.

1. Hospital and ward coverage

Ask whether the plan covers public hospitals, private hospitals or both. Check the eligible ward class, named hospitals and geographic area. If private care matters to you, make sure “hospital cover” does not mean only subsidised public wards.

2. Annual and lifetime limits

The annual limit is the most the insurer will pay during a policy year. Treatment-specific sub-limits may sit inside it. Some policies have no lifetime limit, while others impose restrictions. Compare these amounts with the potential cost of major surgery, cancer care or a prolonged admission.

3. Deductible and co-payment

The deductible is the amount you pay before covered benefits begin. Co-insurance or co-payment is the part of an eligible bill you continue to pay. Ask for worked examples using both a moderate and a very large bill.

4. Pre-existing conditions

This is especially important for people moving to Singapore later in life. Ask:

• Which existing conditions will be excluded?
• Could the condition be accepted with an additional premium or loading?
• Is there a waiting period or permanent exclusion?
• How will related symptoms or future complications be treated?

Disclose health information accurately and obtain the underwriting outcome in writing.

5. Panel hospitals and doctors

Some insurers provide stronger benefits when you use their panel. Panel arrangements can affect pre-authorisation, direct billing, letters of guarantee and co-payments. Confirm that both the hospital and the treating specialist qualify.

6. Pre- and post-hospitalisation care

The hospital stay may be only one part of the cost. You may also need specialist consultations, blood tests, scans, medication, rehabilitation, physiotherapy and follow-up appointments.

Check how many days before and after admission are covered, whether a GP referral is needed and whether outpatient treatment must relate directly to the hospitalisation.

7. Mental health, dental, optical and maternity

These benefits are often excluded or capped separately. Review psychiatric and psychological care, inpatient and outpatient mental-health treatment, routine dental care, major dental treatment, eye tests, glasses and contact lenses as separate categories.

If pregnancy is relevant, check maternity waiting periods, delivery limits, complications, newborn enrolment, congenital conditions and neonatal care before becoming pregnant.

8. Overseas coverage

Ask whether overseas cover applies only to emergencies while travelling or also to planned treatment. Check exclusions for your home country and any country where you spend significant time.

Integrated Shield Plan insurers

MOH’s current comparison materials list seven IP insurers: AIA Singapore, Great Eastern, HSBC Life, Income Insurance, Prudential Singapore, Raffles Health Insurance and Singlife.

For an expat, the most prominent name is not automatically the best choice. Consider residency status, age, medical history, family size, preferred hospitals, expected length of stay and whether international cover is genuinely needed.

Finally, ask what happens after a claim, if premiums become unaffordable, if you leave your job or if you move country. A sustainable policy is one you understand and can continue.

Where to verify: This article is general editorial information, not legal, immigration, medical or financial advice. Requirements can change. Check the relevant Singapore government agency or a qualified professional for advice about your situation.