What is covered under company medical insurance?
Most employers do provide basic health insurance as benefits, and others also include perks such as reimbursement for medical and dental expenses. Other goodies include coverage for your kids or dependents, personal accident coverage, or the free use of a company doctor, if available.
Can I start work with IPA?
An IPA gives you 6 months to bring the candidate into Singapore and get the pass issued. Notification letter. This is valid 1 month from the date of issue and should be given to the candidate as it allows them to start work and travel in and out of Singapore while waiting for the pass card.
Why company insurance is not enough?
The sum insured available under a corporate health insurance policy is usually insufficient to deal with medical inflation. Medical inflation or a rise in hospitalization and treatment costs take place every year. Apart from offering an inadequate amount, your employer can have several conditions attached to the cover.
Do I need personal insurance if I have company insurance?
You also risk being underinsured or getting stuck in the future if you rely solely on your company insurance.
Can you claim company insurance and personal insurance?
Life insurance and related products (endowment, invest-linked, critical illness, personal accident) let you claim across multiple policies. However, you should note that there will be a total limit to the amount you can claim.
What is WorkMedic?
Income's WorkMedic Insurance is an affordable medical insurance plan designed to help you meet with MOM's mandatory requirement. It provides $15,000 hospitalisation* coverage for your foreign employees (Work Permits and S-Pass holders).
Is health insurance mandatory in Singapore?
Singaporeans are already covered by MediShield Life, a compulsory health insurance scheme that pays for basic public hospital treatments. If you prefer to be admitted to a better type ward or private hospital, you can consider an upgrade to an Integrated Shield Plan with wider coverage.
Is group medical insurance mandatory in Singapore?
As part of an employer's S Pass medical obligations, you must buy and maintain medical insurance for your S Pass holders as long they are under your employment. The insurance coverage must be at least $15,000 per year and cover inpatient care and day surgery.