Personal Finance
What Are the Best Ways To Reduce Mental Healthcare Costs?
By ValueChampion  •  January 6, 2021
About 1 in 7 Singapore residents has experienced a mental health condition in their lifetime – and this statistic is expected to rise, given the multiple challenges the still-ravaging coronavirus has brought about. Despite the prevalence of mental health conditions in the country, though, it appears that 78.4% of Singaporeans who experienced a mental illness in the past year failed to seek treatment. While the reason behind Singaporeans' failure to seek proper help may primarily be due to social stigma, another undeniable contributing factor is the potential financial burden. For instance, the total cost of outpatient treatment for a year can range anywhere between S$1,964 to S$5,246, by no means a small sum for most Singaporeans. Thankfully, there are several ways to bring this cost down. Use Medisave To Pay For Psychiatric Treatment The Singapore government allows the use of Medisave to help offset the costs of psychiatric treatment. For...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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