Medisave

Medisave is a national medical savings account system in Singapore, introduced in April 1984.[1] The contribution is mandatory and taken from the monthly Central Provident Fund (CPF) contribution. The system allows Singaporeans to put aside part of their income into a Medisave account to meet future personal or immediate family's hospitalization, day surgery and for certain outpatient expenses.

Under this system, Singaporean employees contributes depending on age group, 6.5–9.0% of their monthly salaries to a personal Medisave account. The savings can be withdrawn to pay the hospital bills of the account holder and their immediate family members.

See also

References
  1. "Medisave".
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