Medisave
Encyclopedia
Medisave was introduced in April 1984 as a national medical savings account
Medical savings account
Medical savings account refers to an account in which tax-deferred deposits can be made for medical expenses.-In Singapore:Medisave was introduced in April 1984 as a national medical savings system for Singaporeans...

 system for Singaporeans. 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 6.5-9.0% (depending on age group) of their monthly salaries to a personal Medisave account. The savings can be withdrawn to pay the hospital bills of the account holder and immediate family members.

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