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Medisave is a national
medical savings account A medical savings account (MSA) is an account into which tax-deferred amounts from income can be deposited. The amounts are often called contributions and may be made by a worker, an employer, or both, depending on a country's laws. The money in ...
system in
Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bor ...
, introduced in April 1984. The contribution is mandatory and taken from the monthly
Central Provident Fund The Central Provident Fund Board (CPFB), commonly known as the CPF Board or simply the Central Provident Fund (CPF), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund thei ...
(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 The savings can be withdrawn to pay the hospital bills of the account holder and their immediate family members.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

*
Healthcare in Singapore Healthcare in Singapore is under the purview of the Ministry of Health of the Government of Singapore. It mainly consists of a government-run publicly funded universal healthcare system as well as a significant private healthcare sector. Fin ...


References


External links


MediSave
{{Singapore-stub Healthcare in Singapore 1984 establishments in Singapore