In Singapore, the cost of living has been increasing year after year. The same goes to medical costs. Cost of admission for common diseases:

“This is a guest post from Verlin Tan, Financial Planner representing HSBC Insurance Singapore, specializing in Wealth Management.”

Thus, how is one being safeguarded from the hefty costs of hospitalisation? Imagine Billy, age 30, a Singaporean, was hospitalized due to lung cancer. Where will money comes from to pay the bill without a medical insurance? Billy’s choices: 1st level of protection: All Singaporeans can access to a subsidy of up to 80% of the total bill in acute public hospital wards. This applies to Billy if he chooses to be treated in a public hospital. His bill will be highly subsidized. However, he still needs to pay the remaining portion of the bill. Refer to 2^nd level protection to find out ......