This scheme is a national medical savings scheme introduced by the CPF that allows you to save a portion of your income in your Medisave Account for the following purposes:
- Your future hospitalization.
- Your immediate family member’s future hospitalization.
- Day surgeries.
- Cover for select outpatient expenses.
The savings in your Medisave Account are primarily meant to cover your medical expenses after you retire. Every month, a portion of your salary will be credited into your MA.
Medisave for Self-Employed – If your NTI, or Net Trade Income, is above SS$6,000, you must make contributions to your Medisave Account.
Who is eligible to make contributions to Medisave Accounts?
You are eligible to make contributions to your Medisave Account if you satisfy one of the following eligibility criteria:
- You are a Singapore Citizen.
- You are a 3rd year Singapore Permanent Resident and earning a minimum of SS$750 each month.
How much of your income is contributed to your Medisave Account
Table 1: Find below the allocation rates of your income into various CPF Accounts
|Employee Age||CPF Accounts|
|Ordinary Account or OA||Special Account or SA||Medisave Account or MA|
|35 years and below||23%||6%||8%|
|Above 35 and up to 45 years||21%||7%||9%|
|Above 45 and up to 50 years||19%||8%||10%|
|Above 50 and up to 55 years||15%||11.5%||10.5%|
|Above 55 and up to 60 years||12%||3.5%||10.5%|
|Above 60 and up to 65 years||3.5%||2.5%||10.5%|
|Above 65 years||1%||1%||10.5%|
Note: You will be considered 35 years/45 years/50 years/50 years/55 years/55 years/60 years/65+ years of age on the respective birthday month.
Using Medisave Account (MA)
Where to use it?
- ALL Singapore based public healthcare institutions.
- ALL approved medical institutions and private hospitals in Singapore.
Who to use it for?
- Your family members (immediate): spouse, parents, children, grandparents.
- Your immediate family members can be hailing from any nationality with the exception of your grandparents who have to either be Singapore Citizens or Singapore Permanent Residents to be eligible for using your Medisave Account savings.
What to use it for?
You can use the savings in your Medisave Account for paying for your medical care as well as hospital expenses up to your eligible Medisave Withdrawal Limit.
Table 2: The Medisave Withdrawal Limits for different treatments
|TREATMENT||MEDISAVE WITHDRAWAL LIMITS|
|Day Surgeries (Approved)||
|Inpatient hospitalization (psychiatric treatment purpose only)||
|Day rehabilitation centres||
|Approved community hospital stay||
|Approved convalescent hospital stay||
|Day hospice care or Home palliative care||
|Approved hospice stay||
|Flexi-Medisave: Applicable to elderly members who are 65 years and above).||
|Outpatient scans/ Diagnostics for treating cancer.||Max. amount of S$600 for each year for each patient.|
|Outpatient scans for diagnosing/ treating medical conditions.||Max. amount of S$300 for each year for each patient.|
|Treatment of Renal dialysis||
|Assisted conception procedures||
|Radiotherapy •Brachytherapy with external radiotherapy • Brachytherapy without external radiotherapy •External Radiotherapy • Stereotactic radiotherapy • Superficial X-ray||• S$300 for each treatment • S$360 for each treatment • S$80 for each treatment • S$2,800 for each treatment • S$30 for each treatment|
|Outpatient radiosurgery treatment (Gamma Knife treatment for cancer and Novalis radiosurgery treatment).||• S$7,500 for each treatment +
|Chemotherapy (includes suppressive treatments including nuclear medicine and neuroendocrine treatments and analgesic medication)||S$1,200 each month for each patient|
|Treating Thalassaemia: Desferrioxamine drug/blood transfusion||
|Anti-retroviral drugs for treatment of HIV/ AIDS (includes drugs used to treat opportunistic infections)||
|Renting devices for long-term oxygen therapy + continuous positive airway pressure therapy for infants.||S$75 each month for each patient|
|Outpatient intravenous antibiotic treatment||
|Hyperbaric oxygen therapy||S$100 for each treatment.|
|Immuno-suppressant drugs for treating organ transplant.||S$300 each month for each patient.|
Transferring funds to Medisave Account from other Accounts under CPF
You can apply to the CPF Board for the transfer of funds from your OA or Ordinary Account and SA or Special Account to your MA only if you haven’t yet met your BHS or Basic Healthcare Sum.
You are eligible for this transfer if:
- You are 55 years+ and
- You have the Basic Retirement Sum or BRS/ Full Retirement Sum or FRS + enough property pledge/charge in your RA or Retirement Account.
Once you have transferred your funds, you can start using them for all Medisave eligible payments.
What you should know about Medisave Transfer:
- Once you transfer your funds, it cannot be undone, meaning you cannot transfer the funds from your MA back to other CPF Accounts.
- No tax relief is applicable for your transfer.
- Self-employed persons – You cannot use the transferred amount in your MA for offsetting any remaining Medisave liabilities.
Does savings is Medisave Account (MA) cover ALL medical expenses?
Even with Medisave Withdrawal Limits in place, usually your Medisave Account savings can cover complete medical expenses if you stay in a Class B2 or C ward in any restructured hospital. However, if you wish to choose any higher class wards or stay in private hospitals, your MA savings will only cover part of your medical expenses. You will be made liable to pay the remaining hospital bill by cash on your own. Knowing this, you must choose your stay in a ward wisely and preferably one that you will be able to afford.
What happens when you do not have sufficient savings in your Medisave Account (MA) to pay your medical bills?
If there is not sufficient balance in your MA to pay your medical bill, as an alternative, you can make the balance payment by cash. However, if that is not a suitable option for you, you can choose from one of the following:
- Use your immediate family member’s MA savings up to the Medisave Withdrawal Limit.
- You can also use the MA savings of a non-immediate family if you are staying in a Class B2 or C ward in a restructured hospital.
Applying to use savings in your Medisave Account (MA)
Applying to use your Medisave savings for medical fees:
The first step is that you must inform your medical institution you wish to claim Medisave either during discharge or billing. You then have to sign the MCAF or the Medical Claims Authorization Form that will allow the medical institution for using the savings in your MA for the bill payment.
After processing your payment, the CPF Board will provide you with a Medisave Claims Statement containing the following:
- The medical institution’s name.
- The patient’s name.
- Amount deducted/used from your Medisave Account.
- The balance in your Medisave Account.
Please note that the medical institution must also take care of the following:
- Inform the patient/you regarding the bill incurred.
- Check the name of the Medisave Account holder (in this case it is you).
- Provide information regarding the amount that they have deducted/used from your Medisave Account.
- Inform the patient/you regarding any unpaid bills.
What happens if the person authorized to sign the MCAF passes away prior to signing the form?
Under such a circumstance, the following members can sign the deceased person’s MCAF:
- An immediate family member (parent/spouse/child of minimum 21 years of age).
- A donee whom the deceased person has appointed.
- Court appointed deputy according to the Mental Capacity Act.
In an event that none of the above are applicable, the hospital can help you seek approval from the MOH or Ministry of Health.
5 Year Medisave Top-Up
The 2014 budget announced the 5 Year Medisave Top-Up as a way of helping members aged 55 years and above with healthcare needs in an event that they do not/did not receive any Pioneer Generation benefits.
In 2015, S$93,000 million was deposited in the Medisave Accounts (MA) of Singaporean Citizens under the 5 Year Medisave Top-Up Scheme.
Savings in your Medisave Account can help you and your immediate family members in paying for large hospital bills, day surgeries and treatments, thereby reducing your medical expenses to a great extent. Hospitalization on its own can be extremely strenuous, your Medisave Account savings can help reduce some of the financial stress during such dire times.