Medical Bill Payments Singapore | Ways to Pay Your Medical Bills

Healthcare

We’ll all have to pay medical bills, big or small at some point in our lives. Are there medical bill payment options and hospital payment plans? Medical expenses can range from less than S$100 to hundreds of thousands of S$. To make matters worse, medical inflation is a genuine thing in Singapore, which means that medical prices can only go up. In this blog, we tell you about medical bill payments Singapore. 

While no one loves the way that sounds, it is what it is. We’ve compiled a list of the best ways to pay your medical bills. Learn more about the various ways one can clear their medical debt in Singapore, from utilizing free health insurance coverage to collecting credit card points to seeking aid from MediFund or the hospital.

Singapore’s best medical bill payment options

Medical Bill Payments Singapore

Lower your out-of-pocket expenses

Being gainfully employed, like many other things in life, has advantages and disadvantages. Aside from earning a living and putting one’s skills to good use, one of the most significant advantages of working is free to access to health insurance coverage. The sky’s the limit when it comes to the dental clinic and hospital bill reimbursements, as well as free GP clinic visits and claimable TCM and chiropractic expenses.

Even if you follow the public healthcare option to reduce your medical expenditures, be sure to first claim from the workplace insurance before claiming from your own private insurance!

Regular credit cards: Earn cashback and enjoy no-fee installment payments

To clarify, not all credit cards allow you to earn rewards on medical and dental spending. In truth, the rule that such transactions are not eligible for rewards is disguised in the fine print of most credit cards’ terms and conditions. This is especially true if you attend public hospitals and polyclinics, which could be classified as ‘Government Services.’

MediSave and MediShield Life: Lower the burden of high medical costs

Although the names MediSave and MediShield Life are similar, their medical benefits are not. Your MediSave savings can be used to cover your own or approved dependents’ hospitalization, day surgery, and certain outpatient charges, as well as their long-term healthcare needs. It should be noted that not all medical bills can be covered by your MediSave savings. You can also use your MediSave funds to pay the insurance premiums for MediShield Life, Integrated Shield Plans, and ElderShield or CareShield Life, if you didn’t previously know.

MediShield Life, on the other hand, is a basic health insurance plan that helps to pay the majority of your significant public hospital expenses (B2/C-type wards) and select expensive outpatient treatments, such as dialysis and chemotherapy for cancer. It is designed in such a way that patients spend less MediSave and/or cash to pay off their large medical expenses. The bright side is that MediShield Life is available to all Singaporeans and PRs, including the elderly and those with pre-existing medical issues.

MediFund: Hospital bill payment aid for persons experiencing financial hardship

If you are having trouble paying your remaining medical bills after getting government subsidies and using other payment methods such as MediShield Life, MediSave, cash, and private insurance payouts (if any), you may want to consider turning to MediFund for assistance. After all, the government-created endowment fund is intended to serve as a safety net for people facing financial difficulties. You must be a subsidized Singapore citizen patient who has received or requires treatment from a MediFund-approved institution to apply for MediFund assistance.

Remember that everyone’s situation is different — each MediFund-approved institution will have its own independent MediFund Committee to assess and approve applications holistically, taking into account the applicant’s and their family’s financial, health, and social circumstances, as well as the size of the medical bill incurred.

Hospital payment plans: Instalment programs to relieve the stress of bill payments

The majority of public hospitals are not uncaring. In addition to MediFund’s help, you may wish to seek financial aid directly from the hospital. To do so, you must notify the Admissions or Business Office staff during financial counseling, and (ii) visit a hospital medical social worker. In addition to assisting you in obtaining more financial aid, the medical social worker will investigate alternative potential payment arrangements, such as interest-free installments, that could be a win-win situation for both you and the hospital.

Relegation to the subsidized class – Medical Bill Payments Singapore

Other government aid programs, such as the Medication Assistance Fund, help to reduce the cost of certain high-priced prescriptions by up to 75%.

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