Introduction to Medisave
If you are a Singapore citizen or Permanent resident, once you start working and contributing to your Central Provident Fund, you will be covered by Medisave.
This is a compulsory savings account that you or your loved one can use to pay for the cost of staying in a hospital, outpatient treatments like chemotherapy, and also some intermediate and long-term care services.
How to Qualify
Mandatory
Singapore citizens and Permanent Residents must have Medisave when they start working, but there are limits on how much money can be taken out of the Medisave account.
How to Apply
You must tell the hospital you want to use your Medisave funds. The hospital will give you a form to give the hospital permission to withdraw your funds. When you leave the hospital, you will get a Medisave Withdrawal Statement and bill showing you how much of your savings has been used, and your payment details.
You can find out more about Medisave at the Central Provident Fund’s website.
