When seeking treatment from private hospitals in Singapore, individuals may wonder if it is possible to have one’s insurance cover the entirety of their bill. While it is not possible for your insurance to cover the whole bill for treatment in a private hospital, understanding how insurance coverage works can help substantially reduce the amount needed to be paid out of pocket. This guide intends to help patients understand how they can most effectively utilise their insurance plans to reduce the cost of treatment at a private hospital in Singapore.
Integrated Shield Plan: Insurance Plan for Private Hospital Bills
Integrated Shield Plans are insurance plans that integrate both your MediShield Life, that is your basic health insurance provided by the government to Singaporean Citizens and Permanent Residents, and an individual’s private insurance coverage.
These plans offer varying levels of coverage for treatment received at private hospitals, depending on the selected tier of treatment.
An integrated shield plan is needed to reduce the amount paid out of pocket at a private hospital. This is because one’s Medisave and MediShield will not be enough to significantly lower the bill for treatment at a private hospital, and without it, you will likely need to cover almost the entire cost.
An integrated plan alone without additional coverage from riders will also mean that patients will have to pay $3500 in deductibles, and an additional 10% of the bill after. A deductible is the basic amount that must be paid before making an insurance claim.
Riders: Reduce Your Out-of-pocket Expenses
A rider refers to an insurance policy provision that provides additional coverage on top of your basic insurance plan at a cost. In other words, riders can aid in further reducing your out-of-pocket expenses when seeking treatment at private hospitals in Singapore.
When looking at additional riders for your insurance plan in Singapore, you may want to consider two options: half riders or full riders.
A half rider provides patients with the added benefit of either paying off their deductible or co-payment. However, it cannot pay off both. A full rider, on the other hand, can pay off your deductibles, only requiring you to make 5% of the remaining bill as co-payment.
It is important to take note that with the added benefits of the full rider, they are more costly than half riders.
Minimum Out-of-pocket Fees
When seeking treatment at a private hospital in Singapore, the absolute minimum one can pay out-of-pocket is 5% of their total bill, even if they have a full rider on their Integrated Shield Plan. This minimum sum is put into place by the Ministry of Health (MOH) Singapore to ensure that patients remain conscious of their medical expenses.
In other words, regardless of the coverage and riders an individual has in place, it is not possible for your insurance to cover the entirety of your hospital bill at a private hospital in Singapore. This regulation helps maintain a balanced approach to healthcare spending and personal responsibility.
In Conclusion…
While your insurance cannot cover the whole cost of your treatment in a private hospital in Singapore, it is possible to only be required to make a 5% payment of your total sum. Speak to your insurance agent or our friendly staff if you have concerns or are unsure of your options.
Here at G&L Surgical Clinic, we will be happy to assist you in understanding the potential costs before undergoing treatment with us. If you require medical attention, schedule an appointment with us, and let us know in advance as to the insurance coverage that you have purchased – this will allow us to give you an estimate of the costs that may be incurred.
For more information on the fees and costs of seeking medical treatment with us, you may want to refer to our Insurance Partners Page, or any of the individual costing pages for the various treatments and procedures we offer.
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