Everyone knows medical costs are sky-high in Singapore, and medical insurance helps us to cover those medical fees. But such insurance can be extremely expensive, especially now that the rate of inflation keeps going up.
Luckily for you, we have done some medical insurance in Singapore comparisons and found that it’s indeed possible to save money on medical insurance. In this article, we will present you with five tips to get medical insurance in Singapore comparison.
Let’s get started!
1. Determine which plan is best for you
Before you start doing medical insurance in Singapore comparison, make sure to determine which plan is best for you. Some medical insurance plans cover more things than other medical insurance plans, and some medical insurance plans are better suited to certain age groups.
By doing medical insurance in Singapore comparisons, you can avoid shopping for a medical insurance plan based on the cost alone since you could get a plan with low monthly payments only to realize that the package has other associated costs that are quite high.
As such, be sure to pay attention to other factors, as well, as we all have different situations when it comes to seeking medical cover. Pay attention to your family needs, financial status, and everything else that may play a role in your medical insurance plan.
2. Get quotes and don’t forget to compare them!
Once you know which medical insurance plan is best for you, it’s time to start shopping for medical cover using those medical insurance plans as reference points. You’ve probably heard this advice before, but we’ll say it again: get medical insurance quotes.
There are plenty of medical insurance companies, medical insurance aggregators, medical insurance comparison websites, and medical insurance brokers out there willing to give you medical cover quotes at no charge.
So use one of them to get medical coverage quotes for the medical plans that fit your needs best.
You can even use websites like MoneySmart for medical insurance in Singapore comparisons.
That way, you’ll be able to compare medical cover plans side by side, determine which medical insurance has the best features for you, and find medical coverage at the lowest price possible.
3. Where possible, negotiate service costs and discounts
There are plenty of medical service providers out there. If you need surgery, a medical checkup, X-ray imaging, or some other medical service, ask the medical service provider for discounts since you’ll be paying with your medical insurance plan.
In Singapore, medical costs have been on the rise due to inflation and medical insurance companies have been negotiating medical costs to keep them low. As such, medical service providers are always open to medical insurance plan holders asking for medical discounts.
After all, once your medical insurance kicks in and covers the medical bill, there is no reason for medical service providers to reject your requests. So feel free to ask medical service providers if medical discounts on medical services are possible.
4. Go for a medical insurance plan with a higher excess
One of the first questions you might want to ask is this: what medical insurance deductible should I choose? Higher medical deductibles mean lower medical premiums, which means you’ll be paying less every month for your medical insurance plan.
As such, medical insurance plans with higher medical deductibles are an excellent option if you want to save on your medical insurance.
Keep in mind, though, that medical insurance plans with high medical deductibles usually have lower coverage limits for medical services, so go for a medical plan with a higher medical deductible only if you are comfortable with the reimbursement limit.
5. Get help from a health insurance pro
Our most important final medical insurance plan tip is this: if possible, get medical advice from a medical insurance broker or medical insurance agent.
There are plenty of medical insurance brokers and medical insurance agents out there, so you should be able to find one that offers free medical check-ups (yes, that’s something they offer!) with their medical plans.
As medical insurance experts, these medical insurance brokers and medical insurance agents can give you medical advice and tell you which medical plan is best for your specific situation.
So if possible, go ahead and get medical cover plans from them to make sure you’re getting the best medical care available in Singapore.
You’ve got to admit
These medical insurance tips can help you save medical insurance in Singapore. So follow them and get medical quotes from medical insurance companies for medical plans that fit your needs best.