Hello everyone, I am new here and trying to gain an understanding of how to best plan for my family's future.
I am an EP holder and my wife is a SPR. We are planning on starting to have baby perhaps a year from now and I want to make sure that we are as prepared as possible (if you ever can be prepared for parenthood).
First, I am curious to how to protect my family from potentially high doctor bills in case of congenital defects or premature births leading to NICU stays and 6 figure bills. From what I see, there are no insurance policies that cover for this outside of up to maybe $10K from a PruFirst type plan that would fall short of covering any catastrophic medical bill. Are there any policies that I am not aware of that would protect my family from such an expense? Why do Singaporeans not appear to be concerned about a 6 figure medical bill? I'm assuming there is some sort of subsidy that provides protection, would my wife be eligible as a SPR?
Second, I know that my wife has a CPF and inside a Medisave account that can pay for a portion of the delivery fees along with prenatal care (I have seen the MOH website for these numbers). In addition, I know that the public hospitals are subsidized and that the SPRs are subsidized at a rate below citizens. Do you know the difference in the subsidies? I can't seem to find this number.
Third, would we be better off having the baby in Malaysia (my wife is Malaysian)? I know some hospitals in Malaysia are eligible for Medisave. Any downfalls of this option?
Finally, if my child were to be born prematurely, would he/she get a subsidized rate as well in the public hospitals since my wife is SPR or would I have to first apply to get the child a PR? Also, would my wife's Medisave account be able to fund a portion of the expense in staying in the NICU?
Thank you to anyone who is able to answer any of these questions. I am trying to learn as much as possible and have gotten to the point where I have made myself even more concerned and overwhelmed!
I am an EP holder and my wife is a SPR. We are planning on starting to have baby perhaps a year from now and I want to make sure that we are as prepared as possible (if you ever can be prepared for parenthood).
First, I am curious to how to protect my family from potentially high doctor bills in case of congenital defects or premature births leading to NICU stays and 6 figure bills. From what I see, there are no insurance policies that cover for this outside of up to maybe $10K from a PruFirst type plan that would fall short of covering any catastrophic medical bill. Are there any policies that I am not aware of that would protect my family from such an expense? Why do Singaporeans not appear to be concerned about a 6 figure medical bill? I'm assuming there is some sort of subsidy that provides protection, would my wife be eligible as a SPR?
Second, I know that my wife has a CPF and inside a Medisave account that can pay for a portion of the delivery fees along with prenatal care (I have seen the MOH website for these numbers). In addition, I know that the public hospitals are subsidized and that the SPRs are subsidized at a rate below citizens. Do you know the difference in the subsidies? I can't seem to find this number.
Third, would we be better off having the baby in Malaysia (my wife is Malaysian)? I know some hospitals in Malaysia are eligible for Medisave. Any downfalls of this option?
Finally, if my child were to be born prematurely, would he/she get a subsidized rate as well in the public hospitals since my wife is SPR or would I have to first apply to get the child a PR? Also, would my wife's Medisave account be able to fund a portion of the expense in staying in the NICU?
Thank you to anyone who is able to answer any of these questions. I am trying to learn as much as possible and have gotten to the point where I have made myself even more concerned and overwhelmed!
