Deductibles and Co-insurance Element in Hospitalisation Bill

What is Deductible and how does it work?

A Deductible is the amount you would need to pay for claim(s) made in a policy year, before there is a payout from MediShield. You only need to pay the full Deductible once in a policy year. However, the Deductible is waived if your claim is for outpatient treatments.

* A policy year is a period of one year, starting from the commencement/renewal date of the MediShield cover. Different policyholders have different commencement/renewal dates for their MediShield cover.

_____________________________________

What is Co-insurance and how does it work?

Co-insurance is the amount you need to co-pay after meeting the Deductible. Co-insurance is lower for larger claimable amounts, thus reducing the percentage share of payment by you for larger hospital bills. Co-insurance is three-tiered, ranging from 20% to 10% as the bill size increases.

Notes:
a. Co-insurance for outpatient treatments is 20% of a percentage of the charges incurred.

b. Claimable amount is the lower of the claim limit in Benefits & Claims of Medishield or a percentage of the charges incurred.

Source: Read up more at CPF Board http://mycpf.cpf.gov.sg/Members/home.htm