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What is Health Insurance?
What is Health Insurance?
An international health insurance plan guarantees protection against high medical costs in the event of falling ill or an unfortunate accident by granting you the ability to pay for those expenses.
Purchasing an insurance policy is easy today, and in the long run it has the potential to save you a large amount of money.
Selecting from a range of benefits allows for a high level of customizability that ensures you are paying for exactly what you need.
Why do I need Health Insurance in Singapore?
In Singapore you can find an insurance plan to protect yourself from the risks associated with being a car or home owner, to needing medical treatment. This involves insurers taking on the financial risks of various potentially costly situations, for a fee.
The city enjoys a very high quality of healthcare, with some of the finest healthcare providers in the world and a finely balanced financing system that is comprised of mandatory payroll deductions, a national catastrophic health insurance plan as well as government subsidies, and the regulation of health care supply and prices.
There is an abundance of private healthcare providers in Singapore, all offering the highest standard of care. Much of the primary healthcare administered in the country, about 80 percent, is done by private practitioners.Singapore also boasts thirteen private hospitals, seven government run hospitals and a number of polyclinics. The public hospitals are affordable and offer high quality medical services to every Singaporean resident. Private hospitals are renowned centers of medical excellence, yet are markedly more expensive. Cost is the largest factor, and private hospitals are places often out of reach for those who do not have health insurance in Singapore.
Since many expatriates enter Singapore working for large companies they will often be extended medical insurance. If this is the case for you, and details have not been provided to you already, it is advisable to speak with the human resources department about your Singapore health insurance options.
