Medisave and Medishield

Last Sat, I went for a talk on how to save money on hospital bills and squeeze the Medishield insurers dry. This talk was conducted in sign language by my friend, Dr Victor Keng. No doubts, the name of this topic "Medisave and Medishield" might appear sound quite boring, and everyone knows what is Medisave. But actually this talk is quite entertaining and interesting that I learnt quite a lot.

Difference between Medisave and Medishield
Ya, we know what is Medisave. We use Medisave to pay for the hospital bills. But still it is not enough to see us through our bloody days at hospitals. Even it might not be enough to pay for hospital food provided for us during our stay. There is a limit of how much we can withdraw from our Medisave.

Example
Hospital bill - $5k
Medisave - $2k
Cash balance - $3K

We have to rummage our pockets for $3K. But I suppose, this amount is quite a lot to pay. Headache and heartache.

Good news, there is Medishield that help cushion the heavy burden of paying the cash balance. Medishield deductible is the min amount that you only need to pay when you make a claim.

For e.g for hospital bills above $5ooo for Class C.
Hospital bill - $5K
Medisave - $2K
Cash balance - $3K

If you have Medishield, you pay a deductible of 10%, meaning that you have to pay a cash balance of $300 only. Your insurer will burden the 90% of the cash balance on its shoulder for you - $2700.

Hurry up and buy Medishield.

posted by Sleek Black @ 7/17/2006 08:25:00 PM