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My Cpf - Providing for your Healthcare Needs
...Stretching Your Medisave Dollars

Healthcare Financing Framework In Singapore
The financing philosophy of Singapore's healthcare delivery system is based on individual responsibility and community support. Patients are expected to co-pay part of their medical expenses and to pay more when they demand a higher level of service. At the same time, Government subsidies help to keep basic healthcare affordable. For more information on government subsidies, please click here.
To help Singaporeans to pay for their medical expenses, the Government has put in place a financing framework, which consists of Medisave, MediShield, Medisave-Approved Integrated Shield Plans and Medifund. The CPF Board administers the Medisave and MediShield schemes.
Medisave-approved Integrated Shield Plans are generally an enhancement to MediShield, which is already part of the 3Ms.
a) Medisave
b) MediShield
c) Medisave-Approved Integrated Shield Plans
d) Medifund

Medisave is a national healthcare savings scheme. Every month, a portion of your CPF savings goes into your Medisave Account to help you build up your savings for healthcare purposes. You can use your Medisave to pay for your own and your immediate family members’ hospitalisation, day surgery and certain outpatient treatment expenses.

You can use your Medisave savings to pay the premiums of MediShield and Medisave-approved Integrated Shield Plans.

Your Medisave and cash savings can be easily wiped out if you have a major illness. A medical insurance plan like MediShield can help you to stretch your healthcare dollars.
MediShield is a basic medical insurance scheme designed to help pay part of the expenses arising from the insured’s hospitalisations and certain outpatient treatments for serious illnesses at approved medical institutions. MediShield works most effectively for hospitalisations at B2/C class level at restructured hospitals.
MediShield has deductible and co-insurance features. A "deductible" is the minimum claimable amount that you would need to pay when you make a MediShield claim - the deductible applies on the claimable amount rather than the incurred hospital bill. You only need to pay the deductible once in a policy year. You will also need to pay a portion of the claimable amount with the remaining amount paid by MediShield. This arrangement is called "co-insurance". You can use your Medisave or your immediate family members’ Medisave to pay for the deductible and co-insurance.
Premiums for MediShield are kept low and affordable to encourage participation in the scheme. The annual premiums for MediShield range from S$50 for those below 20 years old (as of next birthday) to S$1,190 for those aged 86 to 92 years old (as of next birthday). Those who join the scheme before age 60 (as of next birthday) will enjoy a premium discount from ages 71 to 90 years (as of next birthday). The premium discount increases with every 10 years of MediShield membership.
For more information on MediShield, click here.
To apply for MediShield, click here.
Medisave-approved Integrated Shield Plans
If you wish to have higher insurance coverage (e.g., treatment in Class A/B1 wards in restructured hospital or treatment in private hospitals), you should consider purchasing a Medisave-approved Integrated Shield Plan.

Medisave-approved Integrated Shield Plans have been designed as a single product to include both the benefits offered by the private insurers and MediShield. A policyholder who is insured under a Medisave-approved Integrated Shield Plan will enjoy the benefits of being a MediShield member, including premium discounts while being protected by the higher coverage provided by the private insurers.

Policyholders who take up the Medisave-approved Integrated Shield Plans only need to deal with their private insurers for claims. The private insurer will be the single point of contact and service. Policyholders will only need to file one claim with the private insurer. The private insurer will administer the payouts to policyholders directly, including any payments due under MediShield.

You can use your Medisave savings to pay the premiums for your own and/or dependants’ Medisave-approved Integrated Shield Plans. The withdrawal limit is subject to the Medisave withdrawal limit of $800 per insured person, per policy year, if the insured person is below 66 years old (age next birthday). For insured person between 66 to 75 years old, 76 to 80 years old and 81 years old and above (age next birthday), the withdrawal limit for premiums is increased to $1,000, $1,200 and $1,400 respectively, per insured person, per policy year from 1 November 2013.

For more information on the Private Medical Insurance Scheme, click here.

Medifund is an endowment fund set up by the Government as a safety net to help needy Singapore citizens who are unable to pay their medical expenses. This is a safety net for those who are unable to afford the subsidised charges at restructured hospitals even with their Medisave and MediShield.
For more information on Medifund, click here.

 Providing for your Healthcare needs

  Maintaining A Healthy Lifestyle
Understanding Medisave and MediShield
In The Event of Hospitalisation
Recommended Payment Protocol
Withdrawal of CPF under Medical Grounds
Other Financial Protection for Severe Disability in Old Age
When I Am No Longer Around
Moving Forward
 Last Updated on: Thursday, August 21, 2014 at 5:27 PM
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