How to Use Your MediSave to Cover the Cost of Wisdom Tooth Extraction
At some point in your late teens or early twenties, you may find yourself having to make a decision about whether or not to get your wisdom teeth removed. For many people, this is a no-brainer; their wisdom teeth are impacted, meaning they’ve grown in at an angle and become stuck beneath the gums. In these cases, removal is the only option. However, even if your wisdom teeth are not impacted, you may still need to have them removed due to overcrowding.
If you find yourself in this situation, you may be wondering how you will pay for the procedure. After all, dental work can be expensive, and most insurance plans do not cover wisdom tooth removal. Luckily, in Singapore, there is a way to use your MediSave savings to pay for the removal of your wisdom tooth. Here’s what you need to know.
What basically is MediSave?
MediSave is a national retirement savings scheme that allows you to set aside money for medical expenses. You can contribute to your MediSave account through CPF payroll deductions from your salary or by making voluntary top-ups.
How Do You Withdraw from Your Account?
Withdrawals can be made either online or at any Singaporean hospital or polyclinic offering cashless payment services. Suppose you choose to withdraw online; log in to your CPF account and follow the instructions under the “MediSave” tab. If you choose to withdraw in person, present your identification card at the time of payment and sign a withdrawal form authorizing the release of funds from your account.
What is the Withdrawal Limit?
The withdrawal limit for wisdom tooth extraction is $600 per tooth. If you need to have multiple wisdom teeth removed, you can make multiple withdrawals to cover the cost.
How to Make a Claim?
If you’ve already had your wisdom teeth removed and paid for the procedure out of pocket, you can submit a claim form to the CPF Board to be reimbursed for the cost of the procedure. The form can be found on the CPF website and must be submitted within six months of the date of the procedure. You will need to provide supporting documentation, such as a medical report or dental invoice, in order for your claim to be processed.
What to check before making a claim?
Be sure to check with your dentist or oral surgeon to find out how much the procedure will cost. The amount you are reimbursed will be based on the amount stated on your invoices, so it’s important to make sure that the invoices are accurate. Also, be sure to keep all original documentation; photocopies will not be accepted.
Wisdom tooth removal can be a necessary but costly procedure. However, if you have MediSave savings, you can use them to cover part or all of the cost.