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Hospitalisation can be financially stressful due to medical bills. Ease your financial burden with insurance.
This was originally posted on Planner Bee.
Hospitalisation can be a stressful and overwhelming experience, both physically and financially. Fortunately, insurance can help ease the financial burden of medical bills.
However, navigating the claims process can be confusing and complicated, especially if it’s your first time doing so. In this article, we will address some common questions related to hospitalisation claims in Singapore.
First, we need to highlight that there are different types of hospitalisation insurance in Singapore. They are:
As reported in Straits Times on 21 April 2022, around 70% of Singaporeans and permanent residents, which translates to about 2.9 million people, have opted for Integrated Shield Plans (IP) to provide coverage for private medical care. We will touch on the claim process using Integrated Shield Plans (IP) here. Some of the details shared in the claim process may apply to the other types of hospitalisation plans.
This includes charges incurred for the daily room & board, medical-related services, intensive care unit (ICU) and surgical benefits.
It will include charges incurred for the day surgery procedure and other medical-related services.
It will include charges such as consultations, diagnostic procedures and laboratory examinations prior to the admission of the same medical condition.
It will include charges such as follow-up consultation and treatment incurred after you are discharged as an inpatient. This must result directly from the same medical condition that led to the inpatient treatment, and also be recommended by the attending doctor who treated you.
This includes the costs required for the treatments as an outpatient. Examples are kidney dialysis and cancer drug treatment & cancer drug services.
Apart from the above common types of hospitalisation claims, some benefits in IP will only come into effect after the waiting period, which will vary depending on the insurance company and benefit type.
Read more: Why You Seriously Need To Consider Private Medical Insurance
Read more: I Already Have Hospitalisation Insurance. Why Do I Need a Critical Illness Plan As Well?
Making a hospitalisation claim can seem daunting at first, but with the right information and preparation, it can actually turn out to be a straightforward process.
It’s important to understand your insurance coverage, keep track of your medical records, and follow the hospital’s admission and discharge procedures. By submitting your claim promptly and following up with your insurance provider, you can ensure a smooth claims process and receive the financial assistance you need to cover your medical expenses.
Read more: Singapore’s Integrated Shield Plans to Stop Paying for Entire Hospital Bills
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