Singapore Expats Forum

Insurance Question

Moving to Singapore? Ask our regular expats in Singapore questions on relocation and their experience here. Ask about banking, employment pass, insurance, visa, work permit, citizenship or immigration issues.

Sponsored by:
Image
The Club Residences

KoreanBBQ
Newbie
Newbie
Posts: 1
Joined: Fri, 07 Oct 2016

Insurance Question

Postby KoreanBBQ » Fri, 07 Oct 2016 5:46 am

Hi all, quick background - I'm deep in talks with a company based in Singapore (I'm based in SF). The company only hires foreigners outside SG as independent contractors, which means that I'm not going to get a fancy relocation package, insurance, etc. This means that, if I took the job, my wife and kids would probably stay back in SF while I worked in SG for a year or so (with trips back and forth between the two).

My question, particularly for folks in the same situation, is how insurance would work? After some research online it seems that given health care costs in SG I may not even need to get insurance. If that's the case, though, I would still need insurance for my family back in the States. Or, should I investigate insurance companies in the US that offer global coverage, particularly in Singapore, so my wife and kids are covered at home, and I'm covered, too.

Tax-wise, I guess I would quality as being a resident since I would be in the country for more than 183 days over the given year, correct? Would that affect my SG health care options?

Thanks for any advice.

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11110
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Re: Insurance Question

Postby Strong Eagle » Fri, 07 Oct 2016 8:51 am

You have much larger problems than insurance to worry about if they will only employ you as an independent contractor.

When you are hired as an employee by a Singapore firm, they must obtain the employment pass for you. If your intent is to work for them in Singapore as a contractor, you must be willing to find an agency or bodyshop willing to rent you out (for a fee, of course), or you must form your own company and apply for your own EP. Many threads in the Business forum on this topic.

If you are saying they will get the EP for you but will only provide you cash compensation, then your insurance questions are valid.

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11110
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Re: Insurance Question

Postby Strong Eagle » Fri, 07 Oct 2016 9:09 am

I am going to answer your questions, assuming you are going to get an EP with your Singapore company.

KoreanBBQ wrote:Hi all, quick background - I'm deep in talks with a company based in Singapore (I'm based in SF). The company only hires foreigners outside SG as independent contractors, which means that I'm not going to get a fancy relocation package, insurance, etc. This means that, if I took the job, my wife and kids would probably stay back in SF while I worked in SG for a year or so (with trips back and forth between the two).

My question, particularly for folks in the same situation, is how insurance would work? After some research online it seems that given health care costs in SG I may not even need to get insurance. If that's the case, though, I would still need insurance for my family back in the States. Or, should I investigate insurance companies in the US that offer global coverage, particularly in Singapore, so my wife and kids are covered at home, and I'm covered, too.


Because your family will remain in the USA, they will only be able to get insurance in the USA, as they and you would right now. No global health insurance company will touch them with USA residence.

There are multiple health insurance companies that offer expat insurance for people like you, probably more in the UK than in the USA. Google, "expat health insurance". Basically, your choices come down to this:

  1. You can get a cheap cheap policy that treats you where you are in Singapore and nowhere else. You buy travelers insurance for those trips you must take elsewhere, excluding the USA. You approach local Singapore agencies for this approach, as well as the big travel insurance outfits.
  2. You buy a policy that covers you all over the world, except the USA... they offer things like evacuation to the nearest "good" hospital, etc. But, no insurance in the USA.
  3. You buy a policy that includes coverage when you go to the USA. Length of time that you will be covered in the USA depends upon the policy premium... but expect to pay 2 or 3 times more for USA coverage than without.
  4. You add on a couple of riders, for example, if you get cancer, you can be flown back to the USA, and receive unlimited treatment there... keeps you from treating your brain cancer in Laos because your US policy didn't include long term care.

Tax-wise, I guess I would quality as being a resident since I would be in the country for more than 183 days over the given year, correct? Would that affect my SG health care options?

Thanks for any advice.


You'll probably be OK with Singapore taxes with 183 days. But, you won't qualify for the USA earned income exclusion until you hit 336 days (I think) and have a "real" foreign residence. You need to read up on this because if you don't qualify, you'll be liable for taxes in both countries.

No difference on your health insurance options. And while much cheaper to go to the doctor and get a few pills, insurance is still mandatory for involved hospital care... unless you have a wad of money stuffed under your mattress.

Cheers.


  • Similar Topics
    Replies
    Views
    Last post
  • Health Insurance Question
    by UMichGrad » Fri, 14 Aug 2015 10:12 pm » in Relocating, Moving to Singapore
    1
    1003
    by the lynx View the latest post
    Mon, 17 Aug 2015 4:47 pm
  • question about private medical insurance for PR
    by GSM8 » Mon, 15 May 2017 1:57 am » in General Discussions
    4
    1889
    by GSM8 View the latest post
    Thu, 18 May 2017 1:41 am
  • Insurance cover for Chiropractor session?
    by Everlasting » Fri, 27 Sep 2013 1:45 pm » in Parenting, Family & Schools
    2
    4118
    by Everlasting View the latest post
    Fri, 27 Sep 2013 2:29 pm
  • Unemployment / redundancy insurance
    by Waffer Theen Meent » Sun, 27 Oct 2013 8:26 pm » in Insurance
    16
    19005
    by ecureilx View the latest post
    Sun, 24 Sep 2017 12:21 pm
  • Home and travel insurance
    by hamsterchris » Sun, 08 Dec 2013 11:29 am » in Relocating, Moving to Singapore
    9
    2424
    by Steve1960 View the latest post
    Wed, 11 Dec 2013 8:30 am

Return to “Relocating, Moving to Singapore”

Who is online

Users browsing this forum: No registered users and 3 guests