I HAVE HOSPITALISATION AND SURGERY BILLS. WHAT CAN I USE TO PAY FOR THESE BILLS?
Not your beloved heirloom or a human organ, I sincerely hope.
First of all, if you are a Singapore Citizen or Permanent Resident, you are automatically enrolled into MediShield Life (formerly known as MediShield). This is a basic health insurance plan administered by the Central Provident Fund (CPF) Board with payouts pegged at Class B2 or C wards at restructured hospitals. With this, your large hospital bills will at least be partially covered. To make a claim, simply inform the hospital staff. They will advise you on the forms to fill for MediShield Life claims, and remaining amounts that you may choose to pay by Medisave and/or cash.
Didn’t know that you have been paying premiums for MediShield Life? Wish to help a loved one to contribute to MediShield Life? Find out more here
If you have purchased private Integrated Shield Plans (IPs), you can use them to make claims for higher ward classes or private hospital stays. Such private medical insurance (PMI) usually offer higher annual limits (and unlimited lifetime limit). To make a claim, you can first contact your insurance agent. While most insurers cannot pre-authorise your claims, allowing you to know in advance what claims are admissible, it is wise to keep your agent updated and to seek advice on the next steps. You can also approach the hospital business or admin office to acquire a Letter of Guarantee (LOG) so you may waive off the upfront cash deposit required by the hospital. Keep all original invoices carefully as you will be required to submit them directly to your insurer. The insurer will process your claim and pay the hospital on your behalf for bills that have been e-filed and reimburse you for bills that weren’t, such as the pre & post hospitalisation bills.
Riders are add-ons to IPs that can be purchased to cover the deductible and co-insurance, and potentially further upsize the benefits for persons on IPs with, for example, cash incentives. Deductible is the amount that is not payable to the insured despite a claim admission while co-insurance is the insured’s shared liability of the remaining claim. For example, if the admitted claim is for $10,500, the first $3,500 deductible will not be payable. The balance $7,000 will be divided into 10% co-insurance borne by the insured, and the remaining 90% ($6,300) will be paid out by the insurer.
Full-rider policies give you full access to hospitals and treatments of your choice by covering most if not all expenses. If you bought a full rider before 8 March 2018, you can continue to tap on it as planned. New policyholders, however, will have to co-pay at least 5% for any hospital bills incurred from April 2021 onwards, capped at $3,000 if you use the insurer’s selected panel of medical examiners. Should you belong to this group of new policyholders who purchased riders on or after 8 March 2018, do review your ability to fork out for co-payment should the need arise. It may mean reviewing your rainy day funds (and your commitment to a healthier lifestyle, perhaps).
Employees who are covered by company medical benefits have an additional avenue to consider when settling their hospital bills. Your Human Resource department will be able to advise.
If you have exhausted all channels and are still unable to afford the hefty medical bills, do not despair. Consult the hospital’s Medical Social Worker; they will be able to assess your situation and provide the support you need.
The ability to pay will be one of the first things on your mind when you have to go through hospitalisation or surgery. By being aware of the various options above, you can better tackle the fears that are bound to creep up, and carve out more space for rest and recovery.
