17 Jan All You Need To Know: Assurance Package Medisave Payouts for Dental Implants (2024)
If you are considering dental implants and have been comparing various financing options, the Assurance Package Medisave payouts can help subsidize and finance a portion of your dental implant costs.
I have quickly put together a mini guide that can help you determine whether you qualify for the recent Assurance Package Medisave payouts, and how you can utilize them for your dental implants treatment.
Quick summary: What is the Assurance Package?
The Assurance Package (AP) is part of a range of measures taken to help Singaporeans tide through higher inflation and the impact of the recent Goods and Services Tax (GST) rate hike. The AP includes cash payments, rebates, Community Development Council (CDC) vouchers and Medisave top-ups.
Who is eligible for the Assurance Package Medisave payouts?
The Assurance Package Medisave payouts are available for Singaporean children under the age of 20 as well as seniors over the age of 55.
How do I know whether I qualify for the Assurance Package Medisave payout?
If you are unsure as to whether you are qualified for the payouts, you can find out your eligibility for the Assurance Package (AP) Medisave payouts and whether you qualify at the AP official website by logging in with your Singpass account.
How much will be credited towards my Assurance Package Medisave account?
Should you qualify for the Assurance Package (AP) Medisave payouts, $150 will be credited to your Medisave account in February 2024. A total of $450 will be disbursed to your account over a period of three years – from 2023 to 2025.
What do I need to do to receive the Assurance Package Medisave payout?
There is no action you need to take to receive the Assurance Package Medisave payout. If you are eligible to receive these payouts, the amounts will be credited to the registered bank account linked to your NRIC. You will be notified via your Singpass app inbox or via your registered number SMS notifications when the payout has been completed.
When will the Assurance Package be credited towards my account?
The Assurance Package payouts will be credited to your account from February 2024. Should you wish to receive the payouts earlier, you can link your NRIC to your PayNow account.
What dental treatments can I use the Assurance Package Medisave payouts for?
The Assurance Package (AP) Medisave simply credits your Medisave account. The same dental treatment restrictions and allowances apply. Medisave covers most surgical dental procedures such as dental implants and wisdom tooth surgery, but will not cover elective dental procedures like dental veneers, Invisalign or braces.
How much would dental implants cost after the Medisave subsidy?
At Elite Dental Group, your dental implants would cost about $2,850 (for each tooth replacement) after the Medisave subsidy of $950 per tooth.
Read More: Find out more about the real cost of dental implants in Singapore.
How can I use the Assurance Package Medisave payout to pay for dental implants?
The Assurance Package (AP) credits funds to your Medisave account automatically. Should you wish to use your Medisave to pay for dental implants, you should head to the nearest dental clinic to see whether you qualify for dental implants. Should you be a suitable candidate for dental implants, you will need to inform the clinic that you wish to use Medisave to cover some of your dental implant costs.
The clinic will then help you to process a Medisave claim, with the remainder costs coming out-of-pocket.
Alternative financing for dental implants treatment
If you do not qualify for additional payouts from the recent Assurance Package (AP) Medisave payouts, you will be happy to know that you will still be able to use the following financing methods to pay for your dental implant treatments at Elite Dental Group.
- Medisave (for Singaporeans and Permanent Residents)
- Credit card installment payments
- Dental and corporate insurances
- Buy Now Pay Later programs
Find Out More: Elite Dental Group financing options.
Should you wish to find out more about our financing options or how you can use Medisave to claim for your dental implants, please feel free to contact one of our friendly Patient Experience Specialists for more information.
Book an appointment to use your Assurance Package Medisave payouts for dental implants
Dental implants can be a life-changing teeth replacement option. If you have been putting off treatment because of costs, it might be time to change that! Book an appointment with us to see whether you qualify for dental implants.