Understand your Insurance coverage for COVID19

Health Insurance | Insurance

Understand your Insurance coverage for COVID19

COVID19, which has impacted citizens world-over, doesn’t look like leaving us soon. Viewing this, it becomes important that you know about the Health Insurance cover ages provided by the Government of Singapore and private insurers as well. A host to world’s best health-care facilities, the costs of COVID 19 treatment are fully covered by the Government of Singapore (State-sponsored insurance or private sector insurance).  Singapore has also been giving coverage to COVID patients admitted to CCF and CRF, once they leave the hospital. This coverage is granted by the Life Insurance Association (LIA) and the General Insurance Association (GIA).

Know your Eligibilty

Here patients are also eligible for hospital cash benefits for a maximum of 14 days once discharged from hospital, which is in addition to a hospital cash benefit. The subsequent stay at a CCF* or CRF** must be deemed medically necessary because the patient has been tested positive for the virus and cannot be discharged.

The extension of daily hospital cash benefit coverage is provided under existing Integrated Shield Plans (IPs), hospital income plans and group insurance. This benefit would apply in addition to the government fully covering the costs of treatment and isolation of Singapore Residents and Long-term Pass Holders in CCFs and CRFs.

Though you may be insured by a free Covid-19 insurance plan, you can opt for standalone Covid-19 policy for comprehensive coverage. As all free plans may not cover all bases adequately like coverage duration, daily hospitalization/ICU cash allowance, the lump-sum amount for post-hospitalization expenses, and death benefit.

Covid-19 Insurance Plans 

There are specific Covid19 insurance plans by private insurers that can be availed by all Singapore residents (age group 18-65 and NRIC^ & FIN^^ no) in case they are struck by pandemic (test positive). Under this coverage, a daily cash allowance would be granted for up to 14 days, including treatment in ICU, Post-hospitalization cash benefit of upon discharge from hospital and sufficient death benefit.

The death benefit for the health & social services, food, transportation, and storage sectors doubles as they are considered critical front liners.

However, it is very important that you understand the fine print of your policy with the assistance of your insurer or if a group policy, then from your employer to have hassle-free Covid19 treatment and post COVID care in all respects.

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