In today’s fast-evolving work landscape, securing the right insurance is essential for Independent Doers. Whether you’re a digital nomad embracing remote work or a founder scaling your business, understanding health insurance costs is a crucial step toward financial security and peace of mind.

Why Insurance Matters for Independent Doers  

Some Independent Doers thrive in flexible work environments. Yet, this independence often comes with challenges - one of the most pressing being access to reliable insurance. Health insurance not only protects you from unexpected medical expenses but also ensures access to quality care when you need it most. In SEA, where many Independent Doers are based, Health insurance is mandatory for residents.

Key Benefits of Insurance:

• Financial protection during medical emergencies  

• Access to preventive healthcare services

• Compliance with visa requirements for digital nomads  

• Peace of mind for families and teams  

Factors Affecting Health Insurance Costs  

Before diving into the numbers, it’s important to understand the variables that influence health insurance premiums. A 'premium' is the amount you pay for your insurance plan, often monthly or annually. These factors include:  

1. Type of Coverage

Plans that cover a wide range of services, such as hospital stays, doctor visits, and wellness care, usually come at a higher premium.

Comprehensive plans, like April International's Standard and Max plans or the Insured Nomads Thrive plan, cover a wide range of services and benefits to ensure you have everything you need in one convenient package.

2. Age and Health Status

Younger individuals generally pay lower premiums, while older individuals or those with pre-existing conditions may face higher costs.

3. Location

Living in areas with high healthcare costs or working remotely in multiple countries may impact premiums. Digital nomads and remote workers often need international coverage.

4. Level of Customisation

Tailoring plans to include dental, vision, or maternity care adds to the overall cost.  

5. Family vs Individual Plans

Insuring a family will naturally cost more than individual plans, but family packages often include discounts. Some plans may not be available for individuals such as freelancers as many insurance providers require a minimum headcount to offer coverage.

How Much Does Health Insurance Cost?  

Health insurance costs can vary widely, especially for freelancers and entrepreneurs. Factors like coverage type, age, and location play a big role. Tools like our coverage cost calculator make it easier to estimate your costs.

Standard vs. Higher premium plans

Health insurance costs in Singapore are set to increase, with MediShield Life premiums rising by up to 35% from April 2025, phased over three years [1].

Individual Plans

• MediShield Life Standard Coverage Annual Premiums:
  • Ages 21–30: Start at $295 SGD/year
  • Ages 90+: Start at $2,826 SGD/year [1]

• Private Insurance Plans (Integrated Shield Plans (IPS)):
  • Offer more comprehensive coverage at higher costs [2][3].

For example, Prudential's PRUShield Plans (for Singapore Citizens and PRs, after 1 October 2024):

• 21 to 30-year-olds
  • Standard plans: $48.90 SGD/year (≈$4 SGD/month)
  • Premium plans: $297 to $300 SGD/year (≈$24.80 to $25 SGD/month)

• 31 to 40-year-olds
  • Standard plans: $64.18 SGD/year (≈$5.30 SGD/month)
  • Premium plans: $419 to $472 SGD/year (≈$34.90 to $39.30 SGD/month)

• 41 to 50-year-olds
  • Standard plans: $110.02 SGD/year (≈$9.20 SGD/month)
  • Premium plans: $894 to $943 SGD/year (≈$74.50 to $78.60 SGD/month)

• 51 to 55-year-olds
  • Standard plans: $143.64 SGD/year (≈$12 SGD/month)
  • Premium plans: $1,507 to $1,735 SGD/year (≈$125.60 to $144.60 SGD/month)

• 56 to 60-year-olds
  • Standard plans: $182.35 SGD/year (≈$15.20 SGD/month)
  • Premium plans: $1,855 to $2,064 SGD/year (≈$154.60 to $172 SGD/month) [4]

Personalised Senior Plans

Personal accident insurance for seniors provides coverage for medical expenses, home-care services, rehabilitation, and caregiver training following an accident [5].

For example, Income's SilverCare Plan (for seniors aged 50–75):

• Basic (Standard) Plan: Starts at $163.50 SGD/year (~$15.04 SGD/month).

• Prestige (Premium) Plan: Starts at $316.81 SGD/year (~$28.99 SGD/month) [5].

Family Plans

• Cost: Typically 2.5–3x an individual plan but often cheaper than separate individual plans.

• Discounts: Some insurers offer reduced premiums for bundling family members under one policy.

For example, fully private insurance plans for expats in Singapore:

• Individual Plans: Start at S$400/year for basic coverage.

• Family Plans: Can exceed S$10,000/year, depending on size and coverage.

• S-Pass Holders: Employer-provided plans with a minimum annual payout of S$15,000 [6].

Regional Comparison

• Lower Premiums: Countries like Malaysia, Thailand, and Indonesia.

• Higher Premiums: Regions like Hong Kong and Japan.

For accurate estimates, use a cost calculator tailored to your needs.

Insurance Solutions for Every Need

At Doerscircle, we simplify insurance for Independent Doers. Whether you're a digital nomad or scaling an SME, we offer tailored solutions to ensure you have access to reliable coverage. Here’s why you should consider exploring our offerings:

For Digital Nomads:

• Global health coverage with the Insured Nomads Thrive plan.

• Flexibility designed to match your remote work lifestyle.

For Freelancers and Small Businesses:

• Affordable individual and family plans, such as April International Standard plan.

• Comprehensive coverage with April International Max plan for added peace of mind.

For SMEs and Enterprises:

• Scalable group plans to cover your entire team.

• Access to legal support and contract templates to help you stay compliant and protect your business.

Additional Perks for Independent Doers

Choosing a Premium plan through Doerscircle unlocks exclusive benefits that go beyond just coverage:

• Discounted coworking spaces: Ideal for remote workers and freelancers looking to stay productive.

• Legal templates and resources: Essential for founders and entrepreneurs to ensure legal compliance.

• Networking opportunities: Join and connect with a vibrant community of 140,000+ Independent Doers, sharing insights and opportunities.

Conclusion: Empowering Independent Doers with the Right Health Insurance

Navigating the world of health insurance can seem overwhelming, but securing the right plan is crucial for safeguarding your health, well-being, and financial stability. Whether you're a digital nomad, freelancer, or entrepreneur, understanding your options allows you to make informed decisions tailored to your unique needs.

From affordable standard plans to comprehensive premium coverage, there are solutions to fit various lifestyles and budgets. By taking advantage of tools, tailored offerings, and exclusive benefits, you can prioritise both your health and professional growth.

Start exploring your options today to protect what matters most and join a thriving community of Independent Doers.

Sources

[1] Health insurance premiums under MediShield Life scheme to increase from April 2025, Channel News Asia, 2023. https://www.channelnewsasia.com/singapore/health-insurance-medishield-life-scheme-april-2025-government-support-measures-4677041

[2] Integrated Shield Plans, MoneySense, 2023. https://www.moneysense.gov.sg/integrated-shield-plans/

[3] About Integrated Shield Plans, Ministry of Health Singapore, 2023. https://www.moh.gov.sg/managing-expenses/schemes-and-subsidies/integrated-shield-plans/about-integrated-shield-plans

[4] PRUShield Premium Tables, Prudential Singapore, 2023. https://www.prudential.com.sg/-/media/project/prudential/pdf/ebrochures/pruextra/prushield-premium-tables.pdf

[5] SilverCare Insurance, NTUC Income, 2023. https://www.income.com.sg/personal-accident-insurance/silvercare-insurance

[6] Health Insurance in Singapore, Expatica, 2023. https://www.expatica.com/sg/health/healthcare/health-insurance-singapore-2172805/

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