Thank Goodness for Medisave

Looking at my hospital bill this time around makes me proud to be a Singaporean. My bill came up to SGD5,614.98 in total but after the government grant of SGD4,299.02, I only have to pay SGD1,315.96. However I still don’t have to pay this amount as I have enough funds in my Medisave account to pay the full due sum. Thanks goodness or else I will be searching out payday loan for sure.

In case you’re wondering, Medisave is not an insurance policy per say. Every working individual in Singapore need to contribute to what we call a Central Provident Fund. Each month a small percentage of our pay is deducted. Then this amount is divided into three parts, an Ordinary account, a Special account and a Medisave account. As the name suggest, Medisave helps to pay for a portion or total amount of our hospital bill, if we qualify that is. As I met the criteria, my bill was paid for using my medisave account.

Hurray!

Cheerio…