Singapore ranks #6 globally for healthcare quality. Understanding the 3M framework, choosing between public and private options, and optimizing your insurance coverage helps manage healthcare costs effectively.
Singapore's healthcare financing is built on three pillars for citizens and PRs:
Mandatory savings account (part of CPF) for medical expenses. Contributions are 8-10.5% of salary. Used for hospitalisation, approved treatments, and insurance premiums.
Basic catastrophic illness insurance for all citizens and PRs. Covers large hospital bills and expensive outpatient treatments. Premium payable from Medisave.
Government safety net for those who cannot afford medical bills after Medisave and MediShield. Available to citizens in genuine financial need.
Government-run hospitals (SGH, NUH, TTSH, CGH). Heavily subsidised for citizens/PRs.
Pros: Lower cost, excellent specialist care, government subsidies
Cons: Longer wait times, less privacy, crowded
Cost: $50-200/night (subsidised B2/C ward)
Premium facilities like Mount Elizabeth, Gleneagles, Raffles Hospital.
Pros: Quick access, luxury facilities, personalized service
Cons: Significantly higher costs
Cost: $1,200-2,500+/night (single room)
ISPs are private insurance plans that top up MediShield Life coverage. They allow access to higher ward classes and private hospitals.
Use Polyclinics: For routine care, polyclinics offer subsidised primary care at $10-20 per visit.
Get Referrals: Polyclinic referrals to specialist outpatient clinics (SOCs) are subsidised. Direct specialist visits are not.
Review Your ISP: Check if your Integrated Shield Plan matches your needs. Upgrade or downgrade as life changes.
Fund Medisave: Keep Medisave adequately funded - it covers more than you might think including approved outpatient care.
Let us review your insurance and Medisave strategy to ensure you're adequately covered without overpaying.
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