Medical Insurance System for Immigrants in Singapore

# Singapore Immigrants # Introduction Singapore has a sound medical security system, developed medical facilities and many well-known public and private hospitals. Can let you and your family enjoy world-class medical care and security. The following is the medical insurance system for immigrants in Singapore. Welcome to read!

Article 1 Singapore Immigrant Medical Insurance System

1, medical savings plan The medical savings plan is a national compulsory savings plan to help individuals save money to pay for future hospitalization expenses. According to the regulations, everyone who has already worked must participate in this savings project, and everyone will have their own account, which is specially used to pay for hospitalization expenses. In addition, medical savings can also be used to pay for the hospitalization expenses of parents, spouses, children and other immediate family members.

The savings expenses required by the medical savings plan account for about 6% to 8% of the wage income. This kind of savings is tax-free and the interest is increased according to the usual average interest rate. The lowest interest rate is 2.5%. On the other hand, the payment of medical savings is limited. The money in medical savings can only be used to pay for hospitalization expenses and some special major outpatient examinations, and the payment fees are also limited.

2. Medical security scheme

Unlike medical savings, the medical insurance plan is not mandatory, and it is up to the individual to decide whether to participate. The plan aims to help participants pay for serious or chronic diseases. The insurance benefits in the medical insurance plan are directly deducted from the medical savings of the participants. The cost of this insurance scheme is very low, which can be used to pay part of hospitalization expenses and some major and expensive outpatient treatment expenses, but it does not include the treatment expenses of some diseases such as natural diseases, mental diseases and cosmetic surgery.

The medical insurance plan is a critical illness insurance plan, so participants can only get the benefits of medical insurance after the hospital bill exceeds a certain amount. In the allocation of funds, more than 80% is paid by medical insurance, and the remaining 20% is paid by oneself or medical savings. The medical insurance scheme is very popular in Singapore. At present, nearly 100% of medical savings members have participated in the medical security plan, and about150,000 family members of medical savings owners have voluntarily participated in the medical security plan.

3, medical fund scheme

The Medical Fund Scheme is a special fund provided by the Singapore Government. It is aimed at those Singaporeans who live in poverty and helps them pay some medical insurance fees. This system provides protection for almost all Singaporeans, because they can get good basic medical care regardless of their socio-economic status.

The amount of the medical fund plan is calculated as follows: the first amount is S $20 million. After that, as long as the economy continues to grow and the budget increases, the government will give the medical fund10 million Singapore dollars every year, and the income from these donations will be distributed to public hospitals. Those Singaporeans who can't afford hospitalization by themselves can apply for help from the medical fund. Every public hospital will have a hospital medical fund committee appointed by the government, which is responsible for examining and approving applications and allocating funds.

Further reading: the misunderstanding of Singapore immigrants buying houses

Myth 1: You can't buy a government apartment after you own it. This is the most misunderstood question, so that some friends could have bought apartments. But I'm worried that I can't buy an apartment again and give up after owning it.

Correct answer: You can still buy a government apartment after you own a private apartment.

On condition that:

1. You can only buy a new apartment on the open market.

2. You can only apply for a bank loan, not an HDB loan from the Housing and Construction Bureau.

Myth 2: Foreigners can buy private apartments in Singapore, but they can't apply for loans.

Correct answer: Many people think that foreigners can only pay the house price in one lump sum when they buy real estate in Singapore, and it is impossible to borrow money from banks. In fact, as long as they can provide qualified proof of income and assets, most banks can provide 60%-70% housing loans to foreign buyers.

Myth 3: You must get married before you can buy a government apartment. Singles have to wait until they are 35 to buy a house.

Correct answer: government units are not necessarily bought by husband and wife, but also by brothers, sisters, parents and children. However, one of the members must be a permanent resident or citizen of Singapore, and the other can be a holder of a long-term residence permit. People under 35 can also buy government apartments with their parents.

Myth 4: Singapore's housing prices are very cheap.

Correct answer: Singapore's government apartments are very cost-effective, but it does not mean that all properties in Singapore are worth the money. The prices of some private apartments are also inexplicably high. You must be cautious when buying a house, and do a good job of investigation first.