Find out all you need to know about MediSave below.
What is MediSave?
MediSave is a personal healthcare savings account that helps to pay for the healthcare needs of you and your loved ones. For working adults, you will save between 8-10.5% of your monthly salary in your MediSave. This helps defray healthcare costs over your lifetime.
Basic Healthcare Sum
The Basic Healthcare Sum (BHS) is the estimated amount of savings that you need for your basic healthcare needs when you retire. It is the maximum amount you can have in your MediSave account. This amount is adjusted annually until you reach 65, and will remain fixed for the rest of your life. Any savings you may have above the BHS will be transferred to your Special Account of Retirement Account to supplement your retirement savings. Here is the BHS amount in recent years:
|If you or your loved one turned age 65 in...||Basic Healthcare Sum|
|2016 or earlier||$49,800|
MediSave can be used for your medical expenses and those of your loved ones.
You can use your MediSave for yourself or your family members. This includes your spouse, children, parents, grandparents, or siblings.
They can be of any nationality, except for grandparents and siblings, who must be Singapore Citizens or Permanent Residents.
What can I use MediSave for?
|General wellbeing||Recommended screenings, vaccinations, and chronic disease treatments|
|For surgery or hospitalisation||Inpatient treatment at the hospital for you and your dependents|
|For long-term care||MediSave Care $200/month withdrawal for those severely disabled|
|Giving birth||Treatments to help with conceiving, pregnancy and delivery expenses|
|Repeated treatment||Renal dialysis, cancer treatments and more|
|Pay insurance premiums||For MediShield Life, CareShield Life and Integrated Shield Plans|
|Medical scans||CTs and MRIs are claimable under MediSave|
|Rehabilitation and recovery||Stays at community hospitals or rehabilitation centres|
|Outpatient treatments||Flexi-MediSave for outpatient treatments for those aged 60 and above|
|End of life care||Palliative care at a hospice or at home in the company of your loved ones|
You may find an extensive list of the uses of MediSave via the MOH website.
Homage services applicable for subsidies
Homage is an official government provider for Interim Caregiver Services in Singapore. Services applicable under the MediSave Care scheme include:
Assistance with activities of daily living (ADLs) such as eating, bathing, getting dressed, toileting, transferring and continence.
Our home nursing services range from private nursing, IV drip, wound dressing, NGT feeding, urine bag drainage and more.
To support your rehabilitation and recovery efforts through personalised exercise and therapy treatment sessions.
How to apply
For Singaporeans and PRs, you should already have a MediSave account. You may check your MediSave account balance via the CPF website.
How to use MediSave to pay for medical fees
Here’s an example of how MediSave can be used to pay for your medical and hospitalisation fees:
Chloe recently rushed her mother to the hospital due to a UTI infection. Her mother was experiencing a high fever and was at risk of being in septic shock, so she had to be hospitalised and put under a dose of antibiotics.
When settling her mother’s hospital bills, Chloe informed the hospital that she would like to use her mother’s MediSave to help defray the hospitalisation costs. Given her situation, she is able to tap on her mother’s MediSave for certain inpatient care costs.
The hospital then presents Chloe with a Medical Claims Authorisation Form (MCAF). Signing the MCAF authorises the hospital to check how much Chloe can utilise her own or her mother’s healthcare plans. Once the authorisation has been approved, the hospital will submit a claim on the patient’s behalf.
When Chloe’s mother’s treatment is over, the hospital will submit the medical claim on their behalf. Payment from MediSave will be made directly to the hospital, and the relevant parties will be informed accordingly. Using MediSave, Chloe saves the trouble of dealing with a hefty upfront payment of hospital bills, as a portion of the bills can be covered by MediSave.
Using MediSave to reimburse medical expenses
In some cases where you have an Integrated Shield Plan, or other company benefits, you may get insurers/your company to reimburse your medical expenses via MediSave.
To do so, you will need to apply for a MediSave reimbursement. You will need to submit relevant documents such as the finalised medical bill, healthcare payments and claims statement and/or MediSave transaction statement to your employer or insurer before they can reimburse your MediSave.
More details on reimbursement can be found via the CPF website.
More useful resources on MediSave
How to Use Medisave to Cover Your Outpatient Costs?
MediSave: All You Need To Know
How to Claim MediSave When Visiting a Polyclinic?
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