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28 Sep 2005
Medisave is a national savings scheme established in 1984 to help Singaporeans set aside part of their income to meet their personal or immediate family's hospitalization expenses at the B2/C level, especially during old age.
Higher Medisave Withdrawal Limits for Class A, B1 and private wards
Today, Medisave can be used to pay for hospitalisation, subject to withdrawal limits based on Class B2 and C wards. Some Singaporeans, who are still working and earn higher incomes, may have more funds in their Medisave accounts and may opt to go to Class A, B1 and private wards. For patients who choose to go to Class A, B1 and private wards, which is not the intended level designed for Medisave, the withdrawal limits may be insufficient and they will have to pay out-of-pocket cash. Given their sizeable savings in Medisave, they have appealed to the Ministry to set higher withdrawal limits for Class A, B1 and private wards.
The Ministry of Health is currently studying this issue with view grant more flexibility to Singaporeans who are working and have significant Medisave balances, but still ensuring that there remains sufficient savings for their personal or immediate family's hospitalization expenses, especially during old age.
Using Medisave for Specialist Outpatient Clinics and for Outpatient Treatments of Chronic Diseases
Today, Medisave can be used for a small number of outpatient treatments, such as radiotherapy, chemotherapy, renal dialysis, subject to withdrawal limits. The Ministry of Health is further studying the issue of allowing Medisave to be used for specialist outpatient clinics and for outpatient treatments for certain chronic diseases, such as diabetes.