Mental Health Insurance Singapore | What Are Insurers Covering in Singapore

Health Insurance | Insurance
by Priyadarshini 9 August 2022

Having a plan that covers the cost of mental health treatments can encourage those in need to seek help. Singapore’s mental health issues are worsening, with a spike in suicides in 2020 during COVID-19, the highest number since 2012. Depression, anxiety disorders, bipolar disorder, eating disorders, schizophrenia, and other mental illnesses are examples of mental illnesses. Read about mental health insurance in Singapore.

Mental Health Insurance in Singapore

Providers of Mental Health Insurance

Aside from Medisave and integrated shield plans, there are mental health insurance plans that can help cover the costs of diagnosing and treating mental health illnesses. This may include doctor’s appointments and therapy sessions. Having a mental health insurance plan that covers treatment and consultation costs for mental illnesses can help those who need it. Here are some insurance companies that provide mental health coverage.

AIA Extending Beyond Critical Care

If you’re looking for a plan that covers mental health diagnoses, whether for yourself or a loved one, the AIA Beyond Critical Care is the only one available for purchase by individuals. AIA Beyond Critical Care, which debuted in 2019, was Singapore’s first insurance policy to cover mental illnesses. Its name says it all: this is a critical illness plan that goes above and beyond just covering critical illnesses. It recognizes mental health issues as medical condition that necessitates treatment and care.

Here’s what the AIA Beyond Critical Care program has to offer.

The AIA Beyond Critical Care offers a unique mental wellness benefit. It provides coverage for the following five mental illnesses: Major Depressive Disorder (MDD), Schizophrenia, Bipolar Disorder, Obsessive Compulsive Disorder (OCD), and Tourette Syndrome (up to age 21). AIA will pay an additional 20% of the coverage amount, up to S$50,000 per claim, for people up to the age of 75.

The Mental Wellness Plan of Mercer and Singlife

Mercer Marsh Benefits Singapore (Mercer) and Singlife have joined forces to offer their current corporate insurance plan clients the option of supplementing their employee insurance through a Mental Wellness Plan. The new Mental Wellness Plan aims to fill a market gap for outpatient psychiatric and psychologist benefits, making access to mental health services easier and more affordable for both employers and employees.

It covers employee mental health conditions, the cost of approved medications, and access to a carefully chosen panel of qualified mental health professionals. This new Mental Wellness Plan is available to employers who have a Singlife-insured medical plan.

AXA’s mental wellness program

AXA has partnered with Naluri, a digital therapeutics company, to provide its customers with a digital health coaching program that focuses on mental well-being. AXA customers now have exclusive access to a mental wellness program called Naluri Lite as a result of this collaboration. Through personalized and structured behavioural and psychological coaching, Naluri Lite promotes mental and physical health. This is accomplished through the use of features such as behavioural change tools, information and tips, and the option to sign up for personalized coaching by professionals through chat. Psychologists, dieticians, fitness coaches, and others are among these professionals.

Work from Home Insurance from Chubb

Working from home has not been an easy transition for everyone. According to a survey, 61% of those who work from home are stressed. Chubb will launch a unique Work from Home insurance plan for employers to purchase for their employees on July 14, 2020, for an annual premium of S$38 per employee. This policy, which is a group insurance policy, covers risks ranging from mental health issues to injuries or strains caused by a poor workstation setup.

To begin, Chubb’s Work from Home insurance plan provides S$500 in mental health support per employee. This is in case someone diagnosed with stress disorders as a result of working from home requires psychological counselling.

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