Medisave is a national medical savings scheme which helps Singaporeans save for future healthcare needs, especially after retirement.
Most of us contribute part of our monthly salary to our Medisave Account (MA), but do you know what and whom you can use your Medisave savings for?
You can utilise your Medisave savings for yourself as well as your immediate family members, including your parents, spouse, children and grandparents.
Click the tabs below to reveal what Medisave can be used for:
Medical expenses are probably the last thing you want to worry about close to delivery. With Medisave, you can withdraw up to $450 for each day of inpatient hospitalisation, plus $900 for pre-delivery expenses such as ultrasounds.
Depending on the type of delivery procedure, you can also claim an additional $750 to $2,150.
You can claim between $4,000 and $6,000 from Medisave to help you start your family. In fact, women can claim up to $15,000 for Assisted Conception Procedures (ACP) in their lifetime.
Did you know you can use up to $400 of Medisave per year to help you, your spouse, your parents and children stay healthy?
Use Medisave to keep your child healthy with newborn screening tests or childhood vaccinations such as Hepatitis B, BCG, HPV and more.
You can use Medisave to subsidise your Hepatitis B vaccinations. For high risk groups, you may use it for flu and pneumococcal vaccinations.
You can refer to here for definition of high risk groups.
Every Singaporean is now covered by our basic hospitalisation insurance scheme, MediShield Life. You can use Medisave to pay for you and your immediate family members’ MediShield Life and Integrated Shield Plan (IP) premiums. This is subject to a cap known as the Additional Withdrawal Limit.
You can refer here for more information on the Additional Withdrawal Limit.
You can use your Medisave for the following:
In addition to MediShield Life, you can use Medisave to pay your day surgery and hospitalisation bills.
Medisave covers up to $450 per day in hospital and $300 per day for day surgeries, with an additional $250 to $7,550 if surgical procedures are performed.
Up to $400 per Medisave Account can be used for the outpatient treatment of 19 approved chronic conditions under the Chronic Disease Management Program (CDMP).
Please see here for more information.
Regaining mobility after hospitalisation is equally as important.
For those who require care in a community hospital, Medisave covers $250 per day, up to $5,000 a year.
Medisave also covers $25 per day, up to $1,500 per year for those who need day rehabilitation.
In addition, Medisave covers $50 per day, up to $3,000 per year if convalescent care is required.
Medisave can be used for selected outpatient treatments that are especially expensive in nature.
Cancer patients can use up to $1,200 of Medisave per month for their chemotherapy.
Cancer patients can also use up to $600 per year of Medisave for outpatient MRI scans, CT scans and other diagnostics.
Those who require renal dialysis can use up to $450 of Medisave per month.
If you are aged 50 and above, protect yourself with recommended screenings such as colonoscopies every 10 years and mammograms every 2 years for women.
Insurance proves especially critical in our golden years, in the event of long-term care expenses. This is where Medisave can help pay the premiums for insurance schemes such as ElderShield. In addition, you can use up to $600 of Medisave per year per person insured for Eldershield supplements.
Medisave can be used for inpatient hospices at $200 per day. It can also be used for home palliative or day hospice care, capped at $2,500 per lifetime.
For patients diagnosed with terminal cancer or end stage organ failure, they can use their own Medisave savings without limit for their home palliative care.