Health insurance upon retirement for expats?

Discuss the different insurance options from car to health insurance.
hershey
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Health insurance upon retirement for expats?

Post by hershey » Sat, 10 Jul 2021 6:17 pm

Asking lurkers here how they plan their health insurance through retirement. Singapore has good health insurance options, both integrated shield and international expat plans. However, if you are not a Singapore citizen and not sure if you will retire in Singapore, how do you plan for this? International expat plans except Bupa terminate if an expat returns to his or her home country, and starting a new domestic health insurance plan with new medical underwriting at age 55 or 60 is not attractive.

Do people actually buy a separate domestic insurance plan (higher deductible to keep it cheap?) in one's home country despite the cost of this, to maintain the option to retire in one's home country?

Do people simply assume they will be able to self insure for health expenses when they retire?

I'd appreciate hearing from people who have consciously planned for this or found concrete advice from expert articles.

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Re: Health insurance upon retirement for expats?

Post by sp786 » Sun, 11 Jul 2021 4:34 pm

hershey wrote:
Sat, 10 Jul 2021 6:17 pm
Asking lurkers here how they plan their health insurance through retirement. Singapore has good health insurance options, both integrated shield and international expat plans. However, if you are not a Singapore citizen and not sure if you will retire in Singapore, how do you plan for this? International expat plans except Bupa terminate if an expat returns to his or her home country, and starting a new domestic health insurance plan with new medical underwriting at age 55 or 60 is not attractive.

Do people actually buy a separate domestic insurance plan (higher deductible to keep it cheap?) in one's home country despite the cost of this, to maintain the option to retire in one's home country?

Do people simply assume they will be able to self insure for health expenses when they retire?

I'd appreciate hearing from people who have consciously planned for this or found concrete advice from expert articles.
Good question. I think AXA and BUPA do provide portability options you can check more details on AXA here
https://www.axaglobalhealthcare.com/en/ ... singapore/

Depending on the home country you're referring to certain people do buy life insurance with income or retirement pay out options in their home country.

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Re: Health insurance upon retirement for expats?

Post by hershey » Sun, 11 Jul 2021 4:54 pm

where does it say that AXA offers portability of your expat insurance back to your home country?

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Re: Health insurance upon retirement for expats?

Post by sp786 » Sun, 11 Jul 2021 5:17 pm

hershey wrote:
Sun, 11 Jul 2021 4:54 pm
where does it say that AXA offers portability of your expat insurance back to your home country?
Here

https://www.axa.com.sg/health-insurance ... sive#plans

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Re: Health insurance upon retirement for expats?

Post by PNGMK » Sun, 11 Jul 2021 7:04 pm

Good question. As a PR I'm relying on some policies I bought way back and the gahmen system.
I not lawyer/teacher/CPA.
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You ran away without doing NS? Shame on you!

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Re: Health insurance upon retirement for expats?

Post by smoulder » Sun, 11 Jul 2021 10:46 pm

PNGMK wrote:
Sun, 11 Jul 2021 7:04 pm
Good question. As a PR I'm relying on some policies I bought way back and the gahmen system.
Out of curiosity, are there actually any decent policies that can be applied in different countries? Or are the policies that you are referring to basically SG specific?

I once had a conversation with my wife about retiring outside Singapore - maybe Malaysia since she has family there and I kind of like the laid back lifestyle, at least for retirement. The conclusion was to forget about it because our policies are SG specific.

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Re: Health insurance upon retirement for expats?

Post by Myasis Dragon » Mon, 12 Jul 2021 1:31 am

When I lived in Singapore, there were essentially 3 choices available to you.

1. Singapore coverage only - if you choose this, you must choose a travel insurance policy that covers medical and evacuation anytime you leave Singapore. Make sure your Singapore policy covers you if you do get evacuated from a foreign country back to Singapore.

2. Global health insurance, excluding the USA - different options available including evacuation and repatriation to home country in the case of serious illness, ie, cancer, etc.

3. Global health insurance, including the USA - varying prices depending upon the maximum number of days you will be in the USA each year. Policy options include repatriation for serious illness and medical evacuation.

There are also policies that are available for EU only, obviously, those don't work very well if you're living in Singapore.

Check the medical evacuation conditions very carefully. It's one thing to have a broken arm set in a Vietnamese hospital because the insurance company doesn't think evacuation is medically necessary, quite another if you need to undergo open heart surgery. Also be aware that medical evacuation doesn't mean you come back to Singapore... you could end up in Bumrungrad if it's the closet hospital.

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Re: Health insurance upon retirement for expats?

Post by hershey » Mon, 12 Jul 2021 9:22 am

smoulder wrote:
Sun, 11 Jul 2021 10:46 pm


Out of curiosity, are there actually any decent policies that can be applied in different countries? Or are the policies that you are referring to basically SG specific?
I'm discussing in the context of international expat health insurance plans that cover one anywhere in the world including Singapore (they may exclude the USA depending on the plan), except one's country of nationality (unless that is Singapore).

These are international plans, not Singapore integrated shield local plans.

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Re: Health insurance upon retirement for expats?

Post by hershey » Mon, 12 Jul 2021 9:24 am

Myasis Dragon wrote:
Mon, 12 Jul 2021 1:31 am
Also be aware that medical evacuation doesn't mean you come back to Singapore... you could end up in Bumrungrad if it's the closet hospital.
Not correct, some international plans have medical evacuation coverage for return to one's country of residence if that is necessary. You have to read the policy language carefully.

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Re: Health insurance upon retirement for expats?

Post by hershey » Mon, 12 Jul 2021 9:25 am

sp786 wrote:
Sun, 11 Jul 2021 5:17 pm
hershey wrote:
Sun, 11 Jul 2021 4:54 pm
where does it say that AXA offers portability of your expat insurance back to your home country?
Here

https://www.axa.com.sg/health-insurance ... sive#plans
This isn't helpful, can you quote the specific line? Heh hope you are not an AXA agent.

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Re: Health insurance upon retirement for expats?

Post by x9200 » Mon, 12 Jul 2021 9:34 am

hershey wrote:
Mon, 12 Jul 2021 9:22 am
smoulder wrote:
Sun, 11 Jul 2021 10:46 pm


Out of curiosity, are there actually any decent policies that can be applied in different countries? Or are the policies that you are referring to basically SG specific?
I'm discussing in the context of international expat health insurance plans that cover one anywhere in the world including Singapore (they may exclude the USA depending on the plan), except one's country of nationality (unless that is Singapore).

These are international plans, not Singapore integrated shield local plans.
What is the Singapore integrated shield local plan? Why should I care if you call it an international plan if I have, for example, full in/out patient coverage in Singapore, local agent, direct bill settlement by the insurer etc. etc.?

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Re: Health insurance upon retirement for expats?

Post by hershey » Mon, 12 Jul 2021 9:40 am

Because you're asking above coverage in other countries outside Singapore?

These international plans are designed for expats who travel frequently outside Singapore including on short term assignments, and who may change residence to another expat posting.

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Re: Health insurance upon retirement for expats?

Post by x9200 » Mon, 12 Jul 2021 9:52 am

hershey wrote:
Mon, 12 Jul 2021 9:40 am
Because you're asking above coverage in other countries outside Singapore?

These international plans are designed for expats who travel frequently outside Singapore including on short term assignments, and who may change residence to another expat posting.
Again, why should I care what are these plans designed for if the plan is good for Singapore? It seems it is more important to you what the plan is called rather than what it can deliver.
I use such plan for many years living in Singapore and found it superior also in terms of value for money to any so called local plans. I started with local ones 2 decades ago and found them not sufficient for the protection they provided. The fact that my current plan also covers oversees expenses is just an extra benefit.

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Re: Health insurance upon retirement for expats?

Post by Myasis Dragon » Mon, 12 Jul 2021 11:26 am

hershey wrote:
Mon, 12 Jul 2021 9:24 am
Myasis Dragon wrote:
Mon, 12 Jul 2021 1:31 am
Also be aware that medical evacuation doesn't mean you come back to Singapore... you could end up in Bumrungrad if it's the closet hospital.
Not correct, some international plans have medical evacuation coverage for return to one's country of residence if that is necessary. You have to read the policy language carefully.
It's absolutely f*cking correct. Most plans do not guarantee evacuation to your country of residence without special riders and additional cost. I know. I purchased plans for my employees. I broke an ankle riding dirt bikes down the Ho Chi Minh trail. Evacuation to Singapore was not an option. Saigon, yes, Bangkok, maybe, if I bitched enough. Singapore, no.

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Re: Health insurance upon retirement for expats?

Post by smoulder » Mon, 12 Jul 2021 11:43 am

Myasis Dragon wrote:
Mon, 12 Jul 2021 11:26 am
hershey wrote:
Mon, 12 Jul 2021 9:24 am
Myasis Dragon wrote:
Mon, 12 Jul 2021 1:31 am
Also be aware that medical evacuation doesn't mean you come back to Singapore... you could end up in Bumrungrad if it's the closet hospital.
Not correct, some international plans have medical evacuation coverage for return to one's country of residence if that is necessary. You have to read the policy language carefully.
It's absolutely f*cking correct. Most plans do not guarantee evacuation to your country of residence without special riders and additional cost. I know. I purchased plans for my employees. I broke an ankle riding dirt bikes down the Ho Chi Minh trail. Evacuation to Singapore was not an option. Saigon, yes, Bangkok, maybe, if I bitched enough. Singapore, no.
So basically, the "international" plans tend to short change you?

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