What Are the Best Health Insurance Companies in Singapore?

 

Singapore's healthcare system is world-class but expensive, especially for private care. All Singapore Citizens and Permanent Residents (PRs) are automatically covered by MediShield Life, a basic national plan that helps with large hospital bills in public wards (Class B2/C). To enhance this, most people opt for an Integrated Shield Plan (IP) from private insurers, which extends coverage to private hospitals, higher ward classes (A/B1), and outpatient treatments like dialysis or chemotherapy. IPs can be paid partly with Medisave (up to annual limits) and often include optional riders to reduce deductibles and co-insurance (e.g., from 10% to 5%).

Expats and foreigners aren't eligible for MediShield Life but can buy standalone IPs or international health plans for similar protection. Premiums vary by age, plan tier (Basic, Standard, Plus), and insurer—starting around S$500–S$1,000 annually for young adults, rising with age. Key factors for "best" include coverage limits (up to S$1–2 million per year), claim approval rates (>95% for top providers), pre-authorization speed (1–3 days), and customer reviews on ease of claims.

Based on 2025 reviews from sites like MoneySmart, Seedly, SingSaver, and Pacific Prime, here are the top-rated providers. Ratings draw from user satisfaction (e.g., 4+ stars on Seedly), lifetime premiums, and features like no-claim bonuses or wellness perks. Always compare quotes via aggregator sites, as needs differ.

Top Health Insurance Providers in Singapore (2025)

Provider	Key Plans	Strengths	Weaknesses	Best For
Income (NTUC Income)	Enhanced IncomeShield + Early Critical Illness	Affordable, high claim payout (98%), fast digital claims; strong for families with no-claim discounts up to 20%.	Limited international coverage.	Budget-conscious Singaporeans/PRs seeking value.
Prudential	PRUShield + PRUExtra rider	Comprehensive outpatient (e.g., cancer drugs up to S$3,000/month), easy switch between tiers; 4.5/5 on Seedly for service.	Slightly higher premiums post-50.	Those wanting flexible, high-limit plans (up to S$2M/year).
AIA	Health Shield Gold Max + HealthCare Shield rider	Wellness rewards (e.g., gym discounts), covers private hospitals fully; top-rated for expat add-ons (4.6/5 on Trustpilot).	Rider premiums can add 20–30%.	Young professionals/expats prioritizing preventive care.
Great Eastern	Supreme Health + GREAT Total Cover rider	Broad network (1,500+ providers), quick pre-auth (1 day); good for maternity add-ons.	Average rider value compared to peers.	Families needing wide hospital access.
Singlife (formerly Aviva)	Singlife Shield + Health Plus rider	Lowest entry premiums, app-based claims (under 5 mins); starter rider at S$1/month for 5% co-pay.	Newer player, less historical data.	First-time buyers or digital-savvy users.
HSBC Life	HSBC Life Shield + Value Care rider	Competitive lifetime premiums (lowest per MOH data), global emergency evacuation; 4.4/5 reviews for transparency.	Fewer local wellness perks.	Expats/Singaporeans planning overseas travel.
Raffles Health Insurance	Raffles Shield + Essential rider	Ties to Raffles Hospital network for seamless care, lower deductibles; praised for affordability in young adult reviews.	Smaller network outside Raffles.	Users preferring integrated hospital-insurance

*Notes: Premiums are estimates for non-smokers; actual quotes depend on health/history. Data from MOH comparisons (Jan 2025) and Seedly/MoneySmart reviews. All offer MediSave-approved IPs with 90–100% claim limits after deductibles (S$1,500–S$3,000).

For Expats Specifically

Expats often need global coverage beyond local IPs. Top picks include:

• Cigna Global: Worldwide plans (S$2,000–S$5,000/year), strong for families (maternity included); 4.7/5 for network size.
• Allianz Care: Customizable tiers with evacuation; ideal for high-earners (S$3,000+/year).
• Sompo International: Affordable for basics (S$1,500–S$3,000), quick claims in Asia.

Tips for Choosing

• Compare via tools: Use MoneySmart.sg or Sing Saver for side-by-side quotes.
• Check MOH site: View official IP comparisons for premiums and TAT (turnaround time).
• Read reviews: Seedly highlights real-user experiences; aim for >4 stars on claims.
• Add riders wisely: They cover 80–100% of out-of-pocket but increase costs—skip if healthy.
• Switch if needed: Easy IP transfers without new underwriting if claims-free.

Consult an independent advisor for personalized advice, as this isn't a financial recommendation. For the latest, visit moh.gov.sg or insurer sites.

Case Study : 

MoneySmart.sg: Your Go-To for Health Insurance Comparisons in Singapore

MoneySmart.sg is a leading financial comparison platform in Singapore, licensed by the Monetary Authority of Singapore (MAS) as an Exempt Financial Adviser and Registered Insurance Broker. It helps users compare loans, credit cards, insurance products, and more, with a focus on saving time and money through side-by-side quotes from multiple providers. For health insurance, it's particularly useful as it aggregates plans from over 10 insurers, allowing instant online quotes tailored to your age, coverage needs, and budget. As of October 2025, their tools emphasize MediShield Life enhancements via Integrated Shield Plans (IPs), riders, and international options for expats.

Key Features on MoneySmart.sg for Health Insurance

• Comparison Tool: Enter details like age, gender, and preferred ward class (e.g., B1 or A) to compare premiums, deductibles, co-insurance, and annual limits. It highlights Medisave-eligible plans and lifetime premium costs.
• Educational Guides: Breaks down MediShield Life (basic coverage for public wards), IPs (private extensions up to S$200,000 claims from April 2025), and riders (covering 80–100% out-of-pocket after 5% co-pay cap).
• Rewards & Promos: Apply via MoneySmart for exclusive deals, like cashback or wellness perks; valid until 31 Oct 2025 for some offers.
• Expat Focus: Separate sections for international health insurance (worldwide coverage, S$1,500–S$5,000/year) vs. local IPs.
• Recent updates (April 2025): Premiums up 35% across IPs due to MOH changes—increased claim limits (S$150k to S$200k), inpatient deductibles (+S$1,500), and expanded psychiatric coverage (up to S$20k/year). Insurers like AIA and Prudential have adjusted proration forward upgrades.

Top Recommended Health Insurance Plans on MoneySmart.sg (2025)

Based on MoneySmart's comparisons, here are standout IPs for a 31–35-year-old non-smoker (Standard tier estimates; actual quotes vary). They prioritize low lifetime premiums, high claim limits, and user ratings (4+ stars).

Provider	Plan	Annual Limit	Deductible/Co-Insurance	Key Perks	MoneySmart Rating
Income	Enhanced IncomeShield Preferred	S$1M+	S$1,500 / 5% (with rider)	No-claim bonus (20%), fast digital claims	4.7/5
AIA	HealthShield Gold Max	S$1.5M	S$1,500 / 5%	Outpatient cancer (S$3k/month), wellness rewards	4.6/5
Great Eastern	SupremeHealth Preferred	S$1M	S$1,500 / 5%	Maternity add-ons, 1,500+ network providers	4.5/5
Prudential	PRUShield Preferred	S$2M	S$1,500 / 5%	Tier flexibility, global emergency cover	4.6/5
Singlife	Singlife Shield	S$1M	S$1,500 / 5%	App claims (<5 mins), low rider (S$1/month)	4.4/5
Raffles Health	Raffles Shield	S$1M	S$1,500 / 5%	Raffles Hospital integration, lower deductibles	4.5/5

Notes: Premiums post-2025 hikes; riders add S$200–S$400/year but slash out-of-pocket. For expats, top international picks include Cigna (worldwide, S$2k–S$5k) and Allianz (Asia-focused, with evacuation).

How to Use MoneySmart.sg for Health Insurance?

• Visit Health Insurance Comparison and select "Integrated Shield Plans."
• Input profile for personalized quotes—compare 10+ providers instantly.
• Read guides like Best IPs Guide for 2025 updates.
• For expats: Check International Health Insurance or Expat Guide.
• Apply online for free advisor support—no obligation.

MoneySmart's tools are objective and ad-free for non-sponsored results, making it ideal for quick decisions. For personalized advice, their specialists can assist via chat or call. Always verify with MOH.gov.sg for official benchmarks. If you're an expat, note local IPs aren't for non-residents—opt for international plans instead.

Detailed Comparison of AIA HealthShield Gold Max Integrated Shield Plan

AIA HealthShield Gold Max is one of Singapore's most popular MediSave-approved Integrated Shield Plans (IPs), combining MediShield Life (basic public ward coverage) with enhanced private insurance for higher ward classes (up to Class A in public/restructured hospitals or private hospitals). Launched by AIA Singapore, it emphasizes comprehensive inpatient and outpatient benefits, particularly for cancer treatments, with flexible riders to minimize out-of-pocket costs. As of October 2025, it reflects Ministry of Health (MOH) updates, including a 35% premium increase across IPs from April 2025 (raising annual limits to S$200,000, deductibles to S$1,500–S$3,000, and expanding psychiatric coverage up to S$20,000/year). Premiums are "as-charged" (full coverage without claims-based pricing hikes), but they rise with age and are not guaranteed.

This comparison evaluates AIA HealthShield Gold Max against other top IPs: Income's Enhanced IncomeShield, Prudential's PRUShield, Great Eastern's SupremeHealth, Singlife Shield, HSBC Life Shield, and Raffles Shield. Focus areas include plan tiers, premiums (Medisave-eligible for Singapore Citizens/PRs, age 31–35 non-smoker male, Standard tier approx., post-2025 hikes), coverage limits, deductibles/co-insurance, riders, key benefits, and pros/cons. Data draws from MOH comparisons (Jan 2025), insurer sites, and reviews (e.g., Seedly 4.6/5 for AIA). Lifetime premiums for AIA (private tier) can reach S$323,900 from age 1–100, higher than peers like Singlife (S$238,000).

Plan Tiers Overview

All IPs offer Basic (C ward equivalent), Standard (B2 ward), and Plus (B1/A wards) tiers, with higher tiers covering private hospitals. AIA stands out for extended pre/post-hospitalization (up to 13 months in top tiers) and outpatient cancer coverage.

Insurer/Plan	Tiers Available	Ward Coverage	Annual Claim Limit (Post-2025)	Lifetime Limit
AIA HealthShield Gold Max	Basic, Standard, Plus A, Plus B	Private hospitals; Public A/B1 (A/B tiers)	Up to S$200,000 (all tiers)	Unlimited
Income Enhanced IncomeShield	Basic, Standard, Advantage, Preferred, Elite	Private; Public A/B1 (higher tiers)	Up to S$200,000	Unlimited
Prudential PRUShield	Basic, Standard, Premier, Plus	Private; Public A/B1 (Premier/Plus)	Up to S$200,000	Unlimited
Great Eastern SupremeHealth	Basic, Standard, Preferred, Elite	Private; Public A/B1 (Preferred/Elite)	Up to S$200,000	Unlimited
Singlife Shield	Basic, Standard, Plus	Private; Public A/B1 (Plus)	Up to S$200,000	Unlimited
HSBC Life Shield	Basic, Standard, Plus	Private; Public A/B1 (Plus)	Up to S$200,000	Unlimited
Raffles Shield	Basic, Standard, Plus	Private; Raffles network focus	Up to S$200,000	Unlimited

Premiums Comparison (Annual, Age 31–35, Standard Tier, Medisave-Eligible, Approx. Post-Hikes)

Premiums include 8% GST; higher tiers add 20–50%. AIA is mid-range but pricier for private tiers (e.g., Plan A: +S$200–S$300). Use MOH's tool for personalized quotes. Lifetime premiums: AIA S$280,000–S$324,000 (varies by tier); Singlife lowest at S$238,000.

Insurer/Plan	Standard Tier (S$)	Plus Tier (S$)	Key Notes
AIA HealthShield Gold Max	650–850	900–1,100 (Plan B); 1,200–1,400 (Plan A)	5% discount with AIA Vitality; no premium hike post-claim.
Income Enhanced IncomeShield	600–800	850–1,050 (Preferred)	Lowest entry; 20% no-claim bonus.
Prudential PRUShield	700–900	950–1,150 (Premier)	Claims-based pricing (premiums rise 10–50% after claims).
Great Eastern SupremeHealth	700–900	950–1,150 (Preferred)	Flexible co-pay for private rooms.
Singlife Shield	550–750	800–1,000	Cheapest overall; app-based claims.
HSBC Life Shield	650–850	900–1,100	Lowest lifetime premiums per MOH.
Raffles Shield	600–800	850–1,050	Affordable for Raffles users; smaller network.

Source: MOH IP comparison (Jan 2025); actuals vary by gender/health.

Deductibles, Co-Insurance, and Riders

Deductibles (first S$1,500–S$3,000 paid by you) and co-insurance (5–10% of bill) apply post-Medisave. Riders cover 80–100% of these, capping out-of-pocket at S$3,000/year max. AIA's rider is claims-based (premiums adjust post-claim), unlike "as-charged" peers.

Insurer/Plan	Deductible (Standard/Plus)	Co-Insurance (w/o Rider)	Rider Options	Rider Premium (Annual, Age 31–35)	Out-of-Pocket Cap w/ Rider
AIA HealthShield Gold Max	S$1,500 / S$2,500–S$3,000	10% (capped at 5% for cancer)	AIA Max VitalHealth (tiers: Value, A, B, C); Cancer/Outpatient Boosters	S$300–S$600	S$3,000/year
Income Enhanced IncomeShield	S$1,500 / S$2,000	10%	IncomeShield Plan Rider	S$250–S$500	S$3,000/year
Prudential PRUShield	S$1,500 / S$2,500	10%	PRUExtra (claims-based)	S$350–S$650	S$3,000/year
Great Eastern SupremeHealth	S$1,500 / S$2,500	10%	GREAT TotalCare (as-charged)	S$300–S$550	S$3,000/year
Singlife Shield	S$1,500 / S$2,000	10%	Health Plus (S$1/month starter)	S$200–S$400	S$3,000/year
HSBC Life Shield	S$1,500 / S$2,500	10%	ValueCare	S$250–S$500	S$3,000/year
Raffles Shield	S$1,500 / S$2,000	10%	Essential Rider	S$250–S$450	S$3,000/year

Key Benefits Comparison

AIA excels in outpatient cancer (S$3,000/month drugs) and pre/post-hospitalization. All cover 90–100% after deductible/co-insurance, with MOH-mandated psychiatric expansions.

Benefit Category	AIA HealthShield Gold Max	Income Enhanced	Prudential PRUShield	Great Eastern SupremeHealth	Singlife Shield	HSBC Life Shield	Raffles Shield
Pre-Hospitalization	Up to 13 months (Plan A); 6 months (others)	6–12 months	6–12 months	6–12 months	6 months	6–12 months	6 months
Post-Hospitalization	Up to 13 months (Plan A); 6 months (others)	6–12 months	6–12 months	6–12 months	6 months	6–12 months	6 months
Outpatient Cancer Treatments	S$3,000/month (drugs); 30 critical illnesses/year	S$600–S$1,200/month	S$3,900/month (with rider)	S$1,500/month	S$600/month	S$1,200/month	S$600/month
Maternity	Up to S$6,000 (add-on)	Up to S$10,000	Up to S$8,000	Up to S$6,000	Up to S$6,000	Up to S$6,000	Up to S$6,000
Wellness/ Preventive	AIA Vitality rewards (gym discounts, screenings)	No-claim bonuses (20%)	Tier flexibility	Maternity add-ons	App wellness tracking	Global evacuation	Raffles network perks
Network Size	1,200+ providers; Preferred Provider discounts	Wide local network	Global emergency	1,500+ providers	Digital-first	Global focus	Raffles-centric (500+)
Claim Payout Rate	98%	98%	97%	96%	95%	97%	96%

Pros and Cons of AIA HealthShield Gold Max

Pros:

• Longest pre/post-hospitalization coverage (13 months in Plan A), ideal for chronic conditions.
• Strong outpatient cancer support (S$3,000/month, 30 illnesses/year), outperforming most peers.
• Wellness integration via AIA Vitality (5% premium discount, free screenings like mammograms/colonoscopies).
• Suitable for expats (Special A/B plans for foreigners with valid passes, cash-pay options).
• Fast claims (1–3 days pre-auth); no premium increase post-claim (as-charged structure).

Cons:

• Higher premiums than budget options like Singlife or Income, especially for private tiers (S$85,000+ lifetime difference vs. cheaper IPs).
• Claims-based rider pricing (premiums rise 10–20% after claims since April 2021), less predictable than as-charged riders from GE or Raffles.
• Limited international coverage (focus on Singapore; add-ons needed for expats).
• Pricier for young adults in higher tiers per Seedly reviews (e.g., S$281/year at age 24 including MediShield).

When to Choose AIA Health Shield Gold Max?

Opt for AIA if you prioritize cancer/outpatient extensions and preventive perks (e.g., young professionals or families with history). For affordability, go Income/Sing life; for global needs, HSBC/Prudential; for networks, GE/Raffles. Compare via MoneySmart.sg or MOH's IP tool. Riders are essential to cap costs—skip if low-risk. Consult an advisor; this isn't personalized advice. For latest quotes, visit aia.com.sg or moh.gov.sg.