As we grow older, the need for medical care increases significantly.

Most of us are aware of how much healthcare costs can add up, and the last thing we would wish to do is to dip into our life savings when medical emergencies were to happen.

To prevent this, the Government ensures that all Singaporeans have sufficient savings for future medical expenses by setting aside money in the MediSave account.

As working adults, most of us have a sum of savings channelled into our MediSave accounts monthly.

Wondering what exactly can you use your MediSave for, and where can you use it at?

Here’s all you need to know!

TL;DR: Ultimate guide to MediSave: What can I use it for & how much can I withdraw?

Disclaimer: this is not a sponsored article. The opinions expressed here are based on our understanding of existing CPF policies. Please do your due diligence and check with CPF to clarify your questions before doing anything.

What is Medisave?

Our CPF savings help to ensure that Singaporeans save up for three important things in life – retirement, housing, and healthcare.

We have different CPF accounts to cater to these different needs, one of which is our MediSave account where the savings in this account is set aside for future medical expenses.

As such, MediSave can be used to pay for expenses such as premium payments, inpatient care, outpatient care, and long-term care.

How much of my CPF savings are allocated to MediSave?

Your CPF contributions are distributed to your Ordinary Account (OA), Special Account (SA), and MediSave Account (MA) according to the CPF allocation rates.

For employees, these are the current contribution and allocation rates across different age groups.

As we grow older, the proportion drawn from our salary and contributed towards our CPF accounts will decrease.

However, the allocation rates to your MA will increase.

This is to meet our healthcare needs as we get older.

ALSO READ: How to use MediSave to cover your outpatient costs

MediSave contribution for self-employed person

For a self-employed person (SEP), while CPF contributions are voluntary, MediSave contributions are compulsory.

Any self-employed persons who are Singapore Citizens or Permanent Residents and earn an annual Net Trade Income (NTI) of more than $6,000 would need to contribute to MediSave.

The MediSave contribution rates for SEPs are as follows:

Net Trade Income (NTI)	Age as at Jan 1
Below 35 years	35 to below 45 years	45 to below 50 years	50 years and above
Above $6,000 to $12,000	4.00 per cent	4.50 per cent	5.00 per cent	5.25per cent
Above $12,000 to $18,000	Phased in** from 4.00 per cent to 8.00 per cent	Phased in** from 4.50 per cent to 9.00 per cent	Phased in** from 5.00 per cent to 10.00 per cent	Phased in** from 5.25 per cent to 10.50 per cent
Above $18,000	8.00 per cent (Maximum $5,760)	9.00 per cent (Maximum $6,480)	10.00 per cent (Maximum $7,200)	10.50 per cent (Maximum $7,560)

What’s the maximum amount I can have in my MediSave account?

Basic Healthcare Sum 2022

The Basic Healthcare Sum (BHS) is the estimated amount of savings that an individual needs for basic healthcare needs at retirement age.

The BHS is adjusted annually, and this amount will be fixed for individuals once he/she reaches 65 years old.

The prevailing BHS for CPF aged below 65 years old is currently $66,000.

Here’s the BHS for individuals who have turned 65 in recent years:

Turned age 65 in	Basic Healthcare Sum (Fixed for life)
2022	$66,000
2021	$63,000
2020	$60,000
2019	$57,200
2018	$54,500
2017	$52,000
2016 or earlier	$49,800

What happens to my Medisave savings when it reaches the Basic Healthcare Sum?

The BHS is the maximum amount that one can have in his/her MediSave account.

Any MediSave account savings above the BHS will be transferred to one’s Special Account (SA) or Retirement Account (RA) to supplement his/her retirement savings.

For CPF members who have met the Full Retirement Sum (FRS), any excess savings will be transferred to the Ordinary Account (OA).

Who can I use MediSave for?

You can use your MediSave savings for yourself or your approved dependants.

Approved dependants would include your children, spouse, parents, grandparents, and siblings.

They can be of any nationality except for your grandparents, who must be Singapore Citizens or Permanent Residents to enjoy the Medisave benefits.

ALSO READ: CPF MediSave Basic Healthcare Sum raised to $66k in 2022: What it means for you

What can I use MediSave for?

Our MediSave savings can be used for medical care and hospitalisation expenses.

Here are some ways one can use his/her MediSave for:

Premium payments

MediSave can be used to pay for approved health insurance premiums including MediShield Life, Integrated Shield Plans, Eldershield, or Careshield Life.

Premiums for MediShield Life, Eldershield or Careshield Life can be fully paid by Medisave.

For supplement plans such as Integrated Shield Plans and Careshield Life Supplements , MediSave can be partially used to pay for premiums as well, up to Additional Withdrawal Limits.

For instance, the Additional Withdrawal Limit for additional private insurance components of Integrated Shield Plans is as follows:

• $300 per year for those at age 40 years and below on their next birthday
• $600 per year for those at age 41 to 70 years on their next birthday
• $900 per year for those at age 71 years and above on their next birthday

Health screening tests, vaccinations and medical scans

MediSave can also be used for preventive treatments including vaccinations, health screening, and CT/MRI scans.

Under the MediSave500/700 scheme, individuals can use up to $500 (for non-complex chronic patients) or $700 (for patients with complex chronic conditions) to pay for approved vaccinations and health screening.

Preventive Treatments
Vaccinations
Childhood Vaccinations (under the National Childhood Immunisation Schedule)	Hepatitis B
	. Human Papillomavirus (HPV) (for female patients aged 9 to 26 years)
	Pneumococcal (PCV) (for patients below the age of five years old)
	5-in-1 combination vaccination covering Diphtheria, Pertussis, Tetanus, Haemophilus Influenzae type b, Inactivated Poliomyelitis
	6-in-1 combination vaccination covering Diphtheria, Pertussis, Tetanus, Haemophilus Influenzae type b, Inactivated Poliomyelitis and Hepatitis B vaccinations
	Diphtheria, tetanus and acellular pertussis vaccine (Paediatric) (DTaP)
	Tetanus, reduced diphtheria and acellular pertussis vaccine (Tdap)
	Bacillus Calmette-Guerin (BCG)
	Measles, Mumps and Rubella (MMR)
	Oral Poliomyelitis vaccine (OPV)
	Inactivated Poliomyelitis vaccine (IPV)
	Haemophilus influenzae type b (Hib)
	Influenza (for patients in recommended risk groups)
	Pneumococcal (PCV13/PPSV23) (for patients in recommended risk groups)
	Varicella
	Measles, mumps, rubella, varicella vaccine (MMRV)
	Tetanus, reduced diphtheria and acellular pertussis, Inactivated poliovirus vaccine (Tdap- IPV)
Under the National Adult Immunisation Schedule (for target populations)	Hepatitis B
	Human Papillomavirus (HPV) (for female patients between the ages of 9 to 26)
	Tetanus, reduced diphtheria and acellular pertussis vaccine (Tdap) (for pregnant women only)
	Measles, Mumps and Rubella (MMR)
	Influenza (for patients in recommended risk groups)
	Pneumococcal (PCV13/ PPSV23) (for patients in recommended risk groups)
	Varicella
Approved Health Screening
For female patients aged 50 and above	Mammogram
For newborns	1. Hearing test 2. G6P deficiency screening 3. Metabolic screening 4. Thyroid function test

Outpatient treatments

MediSave can be used to pay for chronic diseases treatments, for 20 approved chronic conditions under the Chronic Disease Management Programme (CDMP).

A cash co-payment of 15 per cent would apply for these treatments.

Similarly, Under the MediSave500/700 scheme, individuals can use up to $500 (for non-complex chronic patients) or $700 (for patients with complex chronic conditions) to pay for these treatments.

Chronic Conditions
Metabolic conditions	Mental health conditions	Respiratory conditions	Other conditions
- Diabetes - Hypertension - Lipid disorders - Stroke	- Anxiety - Bipolar disorder - Major depression - Schizophrenia	- Asthma - Chronic obstructive pulmonary disease (COPD)	- Parkinson’s Disease - Osteoarthritis - Nephrosis/nephritis - Benign prostatic hyperplasia - Dementia - Epilepsy - Osteoporosis - Psoriasis - Rheumatoid arthritis - Ischaemic heart disease

Some other outpatient treatments include:

Types of Treatment	MediSave Withdrawal Limits
Flexi-MediSave (for elderly patients aged 60 and above)	Up to $300 a year per patient from MediSave of patient/patient's spouse aged 60 and above
Outpatient scans and other diagnostics for cancer treatment	Up to $600 a year per patient
Outpatient scans for diagnosis or treatment of a medical condition	Up to $300 a year per patient
​Assisted conception procedures	- 1st withdrawal - $6,000 - 2nd withdrawal - $5,000 - 3rd and subsequent withdrawals - $4,000​ Subject to a lifetime limit of $15,000 per patient Only the patient’s own or patient’s spouse’s MediSave may be used.
Renal dialysis treatment - Haemodialysis received at any approved centre; - Haemodialysis received at the patient’s home; - Continuous ambulatory peritoneal dialysis received at the patient's home; - Automated Peritoneal Dialysis received at the patient's home - Intermittent Peritoneal Dialysis received in outpatient setting in approved medical institutions on or after 15 March 2021	$450 per month per patient from MediSave of patient For patients aged 21 and below, the parents' MediSave may be used.
External Radiotherapy (except Hemi-body Radiotherapy)	$80 per treatment
Hemi-body Radiotherapy	$80 per treatment
Brachytherapy with external radiotherapy	$360 per treatment
Brachytherapy without external radiotherapy	$360 per treatment
Stereotactic radiotherapy	$2,800 per treatment
Outpatient radiosurgery treatment (namely Novalis radiosurgery treatment and Gamma Knife treatment for cancer patients)	$7,550 per treatment course and $300 per day for daily hospital charge
Chemotherapy​ (includes analgesic medication and suppressive treatments such as neuroendocrine and nuclear medicine treatments)	$1,200 per month per patient
Anti-retroviral drugs for treatment of HIV/ AIDS (includes drugs used to treat opportunistic infections)	$550 per month per patient ​from MediSave of patient For patients aged 21 and below, the parents' MediSave may be used
Desferrioxamine drug and blood transfusion for treatment of thalassaemia	$550 per month per patient
Hyperbaric oxygen therapy	​$100 per treatment
Outpatient intravenous antibiotic treatment	$600 per weekly cycle, up to $2,400 a year
​Rental of devices for long-term oxygen therapy and infant continuous positive airway pressure therapy	​$150 per month per patient
Immuno-suppressant drugs for organ transplant	$300 per month per patient
​Outpatient Bone Marrow Transplant	$2,800 per year per patient
Long-term Parenteral Nutrition	$200 per month per patient

Inpatient care

There are various hospitalisation and day surgery expenses that can be paid with MediSave.

For	Includes	MediSave Withdrawal Limits
Hospitalisation	- Daily ward charges - Daily treatment fees - Investigations - Medicines	Up to $550 per day for the first two days, $400 per day thereafter
	Inpatient psychiatric treatment	Up to $550 per day for the first two days, $150 per day thereafter; up to a maximum of $5,000 per year
	Psychiatric treatment at IMH	$150 per day, up to $5,000 per annum
Day surgery	- Daily ward charges - Daily treatment fees - Investigations - Medicines	Up to $300 per day
Surgery	Various surgical procedures	Between $250 and $7,550, depending on the complexity of the surgery
MediSave Maternity Package (MMP)	Pre-delivery expenses, including: - Consultations - Ultrasounds - Tests - Medications	Up to $900
	Hospital charges, including: - Daily ward charges - Daily treatment fees - Investigations - Medicines	Up to $550 per day for the first two days of hospitalisation, $400 per day thereafter
	Delivery procedures	- $750 for a natural delivery - $2,150 for a caesarean delivery - $2,600 for a complicated caesarean delivery

Long-term care

MediSave can also be used to help with long-term care costs, including rehabilitation, palliative care, and disability care.

For	MediSave Withdrawal Limits
Rehabilitative care	An inpatient at an approved community hospital	$250 per day, up to $5,000 per annum
	An inpatient at an approved convalescent hospital	$50 per day, up to $3,000 per annum
	An outpatient at a day rehabilitation centre	$25 per day, up to $1,500 per annum
	An outpatient at an approved day hospital	$150 per day, up to $3,000 per annum
Palliative care	Inpatient palliative care providers	$250 per day for general palliative and $350 per day for specialised palliative
	Home palliative care/day hospice care	up to $2,500 per lifetime, per patient
	Terminal cancer or end-stage organ failure	No withdrawal limit if bill is paid using your own MediSave
Disability care	MediSave Care: Aged 30 and above and are assessed to be severely disabled	Up to $200 per month (A minimum of $5,000 will need to be set aside in MediSave.)

Where can I use MediSave?

You can use your MediSave at all public healthcare institutions and approved private hospitals and medical institutions.

Public healthcare institutions would include:

• Public hospitals, including Specialist Outpatient Clinics (SOCs)
• National specialty centres
• Polyclinics

Participating medical institutions would include:

• General practitioner (GP) clinics
• Private hospitals and specialist clinics
• Community hospitals
• Day rehabilitation centres
• Specialist Outpatient Clinic (SOCs)
• Palliative care providers

There is a list of MediSave-approved clinics under the MediSave 500/700 scheme as well, and the list is available on the Community Health Assist Scheme (CHAS) website.

How do I make a MediSave withdrawal?

If you’ve sought treatment at an approved medical institution in Singapore, you can submit a Medical Claims Authorisation Form (MSAF) to claim from your MediSave account.

After completing the form, submit the form to the MediSave-accredited medical institution where you are receiving treatment.
MediSave-accredied institutions include:

• public hospitals
• private hospitals
• polyclinics,
• MediSave-accredited General Practitioner (GP) and
• MediSave-accredited dental clinics

Can I withdraw my MediSave account in cash?

In most cases, our MediSave savings cannot be withdrawn as cash and are used to pay for approved medical treatments directly.

However, MediSave care allows severely disabled Singaporeans aged 30 and above to withdraw up to $200 per month for long-term care.

To be eligible for MediSave care, an individual has to be:

• Singapore Citizen or Permanent Resident (includes Singapore Citizens residing overseas)
• Aged 30 and above
• Certified by a MOH-accredited severe disability assessor to be severely disabled (i.e. unable to perform three (3) or more Activities of Daily Living (ADLs):
  • eating
  • getting dressed
  • using the toilet
  • bathing
  • moving
  • walking around, and
  • getting from the bed to a chair or vice versa
• Have a minimum MediSave Account balance of $5,000

The maximum monthly withdrawal quantum that can be withdrawn is tagged to the MediSave balance.

MediSave Balance	Monthly Withdrawal Quantum
$20,000 and above	$200
$15,000 and above	$150
$10,000 and above	$100
$5,000 and above	$50
Below $5,000	Nil

What happens to my MediSave savings if I don’t use them?

For MediSave savings left in your MediSave account, it’ll earn interest of up to 5 per cent per annum .

For reference, here are the current interest rates:

Ordinary Account (From Jan 1 - March 31, 2022)	Special and MediSave Accounts (From Jan 1 - March 31, 2022)	Retirement Account (From Jan 1 - Dec 31, 2022)
Interest Rate Floor	2.5 per cent p.a.	4 per cent p.a.	4 per cent p.a.

ALSO READ: What's the difference between MediSave and MediShield Life: A 2-minute explainer

What will happen to my MediSave savings if I die?

For individuals who have authorised the use of MediSave to pay for the bill before his/her demise, the MediSave savings will be used in full to pay for the last hospitalisation bill.

Any remaining MediSave balance after that will be distributed to the CPF nominees upon one’s death.

If a CPF nomination is not completed, the CPF savings will be transferred to the Public Trustee for distribution in accordance with the Intestate Succession Act for non-Muslims and the Administration of Muslim Law for Muslims.

CPF MediSave: Helping Singaporeans save up for future medical expenses

CPF savings are a prominent part of our finances, helping to ensure that we have sufficient savings for the big events in life.

Besides MediSave that helps with our medical expenses, the Ordinary Account (OA), Special Account (SA) and Retirement Account (RA) helps with expenses like housing and retirement.

Which is why it’s incredibly helpful to employ some hacks to maximise our CPF savings …

And if you’re looking for more CPF tips and hacks, you know where to go !

More CPF tips and tricks

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This article was first published in Seedly.