Guide to the Best Health Insurance Plans in Singapore


Why is health insurance necessary?
Healthcare Inflation

Why the steep rise? It’s largely driven by the rising costs of medical research, advanced treatments, and cutting-edge healthcare technology—the three main factors behind escalating healthcare expenses today.
Short Hospitalisation

That means you won’t have to drain your savings or turn to family, friends—or worse, loan sharks—just to settle your hospital bills.
Long-Term Illness

Your life insurance plans will give them lump-sum payout cheques to help them continue with their lives for a short period (while they find new sources of income) – basically protecting their financial stability for a year or two.
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How Does Health Insurance Work in Singapore?
Difference Between Health and Life Insurance
Health Insurance
All Singaporeans and PRs are automatically covered under MediShield Life, a basic health insurance plan with premiums paid via your CPF MediSave account.
There are four main types of health insurance:
- MediShield Life – Basic coverage for Class B2 and C wards in public hospitals, with capped benefits (e.g. up to $2,600 for surgery). Does not cover post-hospitalisation treatments.
- Integrated Shield Plans (IPs) – Supplement MediShield Life with higher coverage (e.g. Class A wards or private hospitals). Premiums can be partially paid via MediSave (within limits), but higher premiums apply.
- IP Riders – Optional add-ons for IPs to reduce out-of-pocket costs (e.g. deductibles or co-insurance). Must be paid for in cash.
- International Health Insurance – Offered by local or global insurers, these plans typically cover a wider range of services (regional or worldwide).
Life Insurance
There are two main types of life insurance:
- Whole Life Insurance
- Covers you for life
- Higher premiums
- May include a savings or investment component with potential cash payouts over time
- Term Life Insurance
- Coverage for a set period (e.g. 10–30 years)
- Lower premiums
- No payout if you outlive the term

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What types of Health Insurance are there?


Hospital Income Insurance

Long-Term Care Insurance

Disability Income Insurance

Hospitalisation Insurance

Critical Illness Insurance

Terminal Illness Insurance

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Looking for something more specific?


Should You Get Private Health Insurance?
Family history of health issues
Limited coverage provided by the employer
Frequent travel required

Should You Buy Additional Health Insurance Coverage?


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Hear From Our MDRT-Qualified Expert
To help you make sense of this, MoneySmart Financial's MDRT-certified expert is here to give you a hand, with insightful tips on choosing between the different insurance plans, access to comprehensive research, price comparisons, eligibility, or documentation, and ultimately enjoying a seamless insurance selection and application journey.
Did you know? Million Dollar Round Table founded in 1927 serves as an international association uniting various financial professionals, including life insurance agents, financial advisors, and wealth managers? The MDRT recognition is regarded as a mark of distinction, with specific benchmarks for excellence.
Integrated Shield Plans Coverage
Why get an Integrated Shield Plan?
Higher claim limits

Higher ward classes

Agent

MediShield Life

Company Insurance

Why get an IP Rider Plan?
Deductible

Co-insurance

IP Riders offset these costs

Comparing Medishield and Medisave

Health Insurance Comparison
MediShield Life is kind of like the most fundamental layer of health insurance in Singapore, so other plans like the Integrated Shield plan (IP), IP riders, international health insurance plans (local or global providers) can complement your most basic healthcare coverage. If you’re still unsure about these plans and trying to differentiate them, here’s a quick comparison between the different types of health insurance plans available in Singapore.
Type of health insurance plan | What it is | Payment mode |
---|---|---|
Type of health insurance plan MediShield Life | What it is
| Payment modeMediSave |
Type of health insurance plan Integrated Shield plan (IP) | What it isIPs covers you at A wards or even private hospitals but it comes at a higher premium which can be deducted from your CPF MediShield (up to the MediShield withdrawal limits). | Payment modeMediSave |
Type of health insurance plan IP Riders | What it isIP riders are optional, so you can “add on” these riders to your place to get wider coverage, and minimise any extra healthcare costs or enhance certain types of coverage you may need. | Payment modeGIRO, cheque or cash |
Type of health insurance plan International health insurance plan (local and global providers) | What it isYou’re paying for a much wider healthcare coverage plan that usually includes inpatient and outpatient treatments, routine check-ups, chronic conditions, maternity coverage, newborn coverage, dental benefits, vision coverage, evacuation and repatriation coverage, and more. | Payment modeGIRO, cheque, cash, credit or debit cards (Visa and MasterCard) |
How do I pay for Health Insurance?


Using MediSave to pay
What if my MediSave is insufficient?
Other modes of payment
Besides MediSave or cash payment, there are other modes of payment which are accepted by health insurance companies. These include credit card, Visa or MasterCard debit cards, or GIRO. Depending on what type of health insurance plans you choose, you may have the option to choose your payment frequency – monthly, quarterly, half-yearly, or yearly, via your preferred mode of payment.
If you are looking to arrange for a recurring GIRO payment, some insurers do offer the convenience of providing the Interbank GIRO Application form on their websites for you to download, fill it up and submit it.
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How do I apply for a Health Insurance Plan?


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Comparison Health Insurance Plans
PLAN | INSURER | FOR |
---|---|---|
PLANHealthShield Gold Max | INSURERAIA | FORInpatient/Day surgery, outpatient treatment |
PLANPRUShield | INSURERPrudential | FORPre and post hospitalisation, Inpatient/Day surgery |
PLANIncomeShield | INSURERIncome | FOROutpatient treatment, organ transplant |
PLANSupremeHealth | INSURERGreat Eastern | FOROutpatient treatment, high claim limit per policy year |
PLANShield | INSURERAXA | FORCheapest premium, emergency overseas treatment |
PLANRaffles Shield | INSURERRaffles Health Insurance | FORHigh claim limit per policy year, pre and post hospitalisation |
Health Insurance Beginner Guides
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Your MediSave Account in Singapore — How to Make the Most of It
Best Mental Health Insurance Coverage in Singapore – Which Insurers Cover It?
Health Insurance Glossary Guide– Breaking Down Complicated Health Insurance Jargons
Best Health Insurance With Dental Coverage– How To Choose?
Frequently Asked Questions
How much is health insurance in Singapore?
- The average cost of an Integrated Shield Plan (IP) that covers up to B1 ward for a 35 year old individual that does not smoke is S$83. The above mentioned cost does not include premiums for MediShield Life.
How does health insurance work in Singapore?
- All Singaporeans and Permanent Residents (PRs) are entitled to basic governmental health insurance called MediShield Life. You can opt to increase your healthcare coverage by getting additional health private insurance plans such as Integrated Shield Plans.
Can expats buy MediShield Life or Integrated Shield plans in Singapore?
- While expats do not qualify for the governmental healthcare insurance plan, MediShield Life, they can purchase the Integrated Shield plans from local insurance providers.
How much does it cost to see a doctor in Singapore?
- Based on the sample costs provided in government website MoneySense, a 3-day stay in a Class A ward in a public hospital costs about S$900, while miscellaneous hospital bills (e.g. doctor’s fees) can amount to S$3,200.
Do you need health insurance in Singapore?
- Medishield Life is a mandatory governmental health insurance plan that all Singaporeans and Permanent Residents will be automatically enrolled in and need to maintain. You may enhance your Medishield Life healthcare coverage by purchasing an Integrated Shield Plan from private insurers in Singapore.
Can you opt out of MediShield Life?
- You cannot opt out of MediShield Life unlike the previous MediShield scheme. You can choose to pay for your MediShield Life premiums using Medisave or cash.
What is an Integrated Shield Plan?
- An Integrated Shield Plan (IP) is an optional health coverage provided by private insurance companies such as AIA, AXA, Great Eastern, FWD, Prudential, Income, Raffles Health Insurance, and more.
How do I know if I have an Integrated Shield Plan (IP)?
- Log in to your CPF account on www.cpf.gov.sg and click on ‘My Message’. You will be able to see if you have any Integrated Shield Plans (IPs), and which insurance provider you have been registered with.
Is it compulsory to have an Integrated Shield plan?
- No, it is not compulsory to get an Integrated Shield plan (IP). All Singaporeans and Permanent Residents (PRs) have basic coverage from MediShield Life. You can opt for an IP if you want to stay in a class A or B1 ward in public hospitals or private hospitals, and want to extend your healthcare coverage.
Can I use MediSave to pay for my health insurance?
- Yes, you can use MediSave to pay for MediShield Life and Integrated Shield plan (IP). However, premiums of IP riders have to be paid in cash.
Will the Integrated Shield Plan premiums increase with age?
- Yes, premiums increase with age. Also, due to rising healthcare costs, the premiums for the private insurance component of the Integrated Shield Plans (IP) have been increasing by an average of 7% per year.
Can I have multiple Shield Plans?
- No. You can only use MediSave to pay for one Integrated Shield Plan for yourself at any point in time. This is because the IPs provide generally similar coverage, and hospital or medical treatment bills can only be claimed from one plan.
Should expats get health insurance in Singapore?
- Yes, it will be helpful as expats can be covered against any risks and excessive health expenses. The group health insurance plans provided by most companies to cover their employees may not be extensive enough for you and your family as expats. Moreover, you will receive medical coverage 24/7 wherever you fly to, have access to a dedicated personal health insurance advisor via a 24-hour hotline that is available anytime you may need assistance.
Are local or global health insurance providers better than Integrated Shield plans?
- This depends on what you really need. Whether it’s an Integrated Shield plan or a plan by a local or global health insurance provider, the type of insurance policy is ideal for you will depend on your current health situation, the cost and quality of the local health care system and hospitals, if you are settled in your country of residence or move frequently, how often you travel, and many other factors.
What are IP riders?
- They are optional add-ons to your IP. IP riders help to reduce your out-of-pocket costs or enhance specific types of coverage, complementing your MediShield Life plan and Integrated Shield plan.