Dennis Ng
Site Admin
Joined: 28 Nov 2005
Posts: 638
Location: Singapore
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 Posted: Wed Feb 07, 2007 1:35 am Post subject: GST in Medical Bill not claimable? |
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below is a question posted by someone at another forum about whether GST in Medical Bill is claimable or not. I've attached her quesion and my reply below for everyone's easy reference:
| Quote: | Originally posted by Nurudilu
My company has a hospitalization insurance with Aviva. When I got back the refund, I got all the amount back less the gst. My colleague who was processing the claim told me that the gst part of the bill is not claimable.
I decided to check with another insurance company, NTUC Income, about the hospitalization insurance and they also told me that the gst portion of the bill was not claimable. Anyone knows whether this is a industry standard.
What if my bill was $200,000 and assuming I have a NTUC enhanced income shield plan with a rider that pays the deductibles and co-insurance. Imagine my surprise if I still have to pay $14,000 for my bill (assume gst 7%). What if next time gst goes to double digits like in some countries.
Why can't the insurance company pay me back the gst as well. I don't mind paying higher premium to insure away this gst bill payment risk. Afterall, this is the whole point of buying insurance. |
My comments:
from what I understand, as you have found out yourself, typically, that the GST of medical bill is not claimable.
However, as I understand, Great Eastern Supreme Health plan (shield plan) DOES cover GST payment for medical bill. Thus, this is one difference between Great Eastern and other insurers. Thus, if you have no medical conditions, you can consider switching your "shield" plan from NTUC Income to Great Eastern.
You can feedback your comments to the insurer and the press. I think as GST gets higher, (going to be 7% soon), it can be quite a burden for consumers to bear it themselves. I'm sure consumers would not mind paying a slightly higher premium to get GST of medical bill covered as well.
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Cheers!
Dennis Ng
http://www.HousingLoanSG.com - unbiased analysis of ALL Housing Loans in Singapore & Australia! |
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