Can you get insurance coverage for anxiety and depression?

SINGAPORE: In the bustling city-state of Singapore, the spotlight on mental health is shining brighter than ever.

In 2023, 56.6% of Singaporeans sought professional help at least once. However, the question is: Can you get insurance coverage for anxiety and depression?

Understanding the financial hurdle that mental health treatment often poses, financial and public institutions have launched initiatives to make mental healthcare more accessible. 

Here are some available insurance options for Singaporeans looking to manage mental health treatments, according to MoneySmart.

Private Insurance Coverage

1. Income: SNACK Self Care Pack

Designed as an ‘active recovery and preventive’ solution, SNACK aims to support mental well-being and encourage early treatments. Subscribers get coverage of up to $200/month for psychiatric consultation and $500/month for psychotherapy.

It offers flexibility, allowing users to start or pause the plan at any time. Claims can be conveniently made through the Income mobile app.

However, there are limitations for subscribers with pre-existing mental conditions under current treatment, and the coverage excludes inpatient hospitalisation and post-hospitalisation conditions.

To avail the Self Care Pack, you must be:

• Singaporean Citizen or Permanent Resident
• Aged between 18 to 61 years old

2. AIA: Beyond Critical Care Insurance Plan (BCCIP)

AIA made history by offering the first policy covering mental health conditions in 2019. BCCIP covers 187 conditions, including 150 multi-stage critical illnesses, and provides wellness packages.

The Mental Wellbeing Benefit offers 20% coverage (up to S$50,000/claim) for major mental illnesses until age 75.

Covered mental illnesses include: 

• Major Depressive Disorder (MDD)
• Schizophrenia
• Bipolar Disorder
• Obsessive Compulsive Disorder (OCD)
• Tourette Syndrome (up to age 21)

3. Great Eastern

Great Eastern offers three plans with mental health coverage:

• GREAT CareShield Plan: Covers accident-related mental disabilities such as PTSD, impacting daily living activities.
• Pay Assure Plan: Provides financial support for regular living expenses in case of job loss due to a critical illness or mental condition.
• GREAT Family Care: A multi-generational critical illness term plan covering elderly mental disorders like severe dementia for family members.

4. Manulife: ReadyMummy

Addressing the needs of expectant mothers, this 3-year plan provides support for mental symptoms such as insomnia-induced mental fatigue, anxiety, and mood disorders.

Coverage begins from the first 13 weeks of pregnancy until the third policy year, offering 10% of the insured amount for psychotherapy treatments.

Public Insurance Coverage

While not as comprehensive as for physical illnesses, the Singapore healthcare system provides mental health treatment coverage.

Chronic Disease Management Program (CDMP)

This program covers prominent mental conditions such as anxiety and schizophrenia, along with neurological diseases like seizures, epilepsy, and Parkinson’s.

CDMP is available in most of Singapore’s public hospitals, Specialist Outpatient Clinics (SOCs), polyclinics, and over 1250 GP and private specialist clinics.

For Singapore citizens and permanent residents, MediSave, a health savings scheme by the Central Provident Fund (CPF), allows the use of CDMP.

Dementia and mental health conditions, including schizophrenia, major depression, bipolar disorder, and anxiety, fall under Medisave’s coverage for the Chronic Disease Management Programme (CDMP).

In addition, there are specific Medisave benefits:

• Medisave for Inpatient Psychiatric Episodes: Up to $150 per day for daily hospital charges, capped at $5,000 annually.
• Medisave for Outpatient Treatments (CDMP): Up to $500 per Medisave account per year for 20 specified conditions, including dementia and mental health conditions like schizophrenia, major depression, bipolar disorder, and anxiety. Patients contribute a 15% co-payment.
• Medishield Life Inpatient Psychiatric: Coverage of up to 35 days per policy year at $100 per day.

In Singapore’s evolving mental health landscape, accessible care is becoming a reality.  Now, the journey towards mental well-being is more attainable than ever./TISG

Read related: September as Mental Health Awareness Month: Redditor’s take on giving support to colleagues coping with mental health issues