Medisave

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Medisave (Chinese: 保健储蓄) was introduced in April 1984 as a national medical savings scheme for Singaporeans. The scheme 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 scheme, Singaporean employees contributes 6-8% (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 The savings can be withdrawn to pay the hospital bills of the account holder and his immediate family members.