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Health Insurance Terms: Deductible and Co-insurance Explained
Understand what deductible and co-insurance mean in Singapore health insurance and how they affect your medical bills.
What is a deductible?
A deductible is the initial amount you have to pay for your medical expenses before your health insurance makes a payout.
What is co-insurance?
After paying your deductible, you may still have to pay for co-insurance or co-payment. For example, if you have a co-insurance of 10%, you will pay 10% of the cost after the deductible.
How can you pay for these costs?
You can use MediSave up to prevailing limits to pay for the deductible and co-insurance not paid by your insurance policy.
What about pre-existing conditions?
Health insurance policies do not usually cover pre-existing conditions when you sign up for them.