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Insurance with Pre-existing, and Retirement

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richard.hazlehurst
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Insurance with Pre-existing, and Retirement

Post by richard.hazlehurst » Sat, 25 Apr 2020 10:32 pm

Hi,

I've been offered a job in Singapore. The job offers health insurance which looks good for GP visits, but expensive for larger outpatient or inpatient procedures. It also states that it does not cover pre-existing conditions. Both my wife and I have some minor pre-existing conditions and think we need a supplementary policy to provide more coverage. I would love to hear if anyone has a similar experience, what your solution was, and the financial impact. I'm sure it depends on a lot of factors, but I'm trying to understand as much as possible before accepting or declining the offer. I am 52 and my wife is 49.

Also, I don't see anything like a 401K offered, so assuming company match is not a thing. I assume its best to invest into a mutual fund with a private investment firm with no pre-tax benefit?

Thanks

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PNGMK
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Re: Insurance with Pre-existing, and Retirement

Post by PNGMK » Mon, 27 Apr 2020 11:08 am

Medical care here is not super expensive. Unfortunately it will be hard to get coverage for pre-existing conditions on an inidividual policy so see if you can join a group policy via your work place.

401k don't exist but there is an SRS system that saves tax and may be worthing looking at and is available to expats.

https://www.iras.gov.sg/irashome/Scheme ... eme--SRS-/
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