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  1. #1
    Junior Member
    Join Date
    Oct 2013
    Location
    Singapore
    Posts
    13

    Confused about MediSave and MediShield. Can anyone explain it simply to me?

    My dad is one of my dependents. He might need to be hospitalized and I'm trying to prepare in advance. I don't usually mind these things except for now.. but which is which? Which one will help me with hospital bills, surgical procedures? CPF website's content is confusing.

  2. #2
    Member
    Join Date
    Mar 2014
    Location
    Singapore
    Posts
    35
    Everyone who works here in SG (citizen or permanent resident) including business owners and the self-employed are required by
    law to contribute to the Medisave portion of CPF, take a look at your payslip at work, it'll show you how much you contribute, there's a
    fixed percentage, I think, based on your salary.

    So your Medisave funds can pay for hospital expenses and such for yourself or your dependents.

    Medisave can be used to buy Medishield. Which means Medishield premiums can be paid from your Medisave. It's basically like health insurance... it provides financial protection against prolonged or serious illnesses. Medishield Plus members have higher insurance coverage.

  3. #3
    Member
    Join Date
    Oct 2013
    Location
    Singapore
    Posts
    32
    Quote Originally Posted by soonknows View Post
    Everyone who works here in SG (citizen or permanent resident) including business owners and the self-employed are required by
    law to contribute to the Medisave portion of CPF, take a look at your payslip at work, it'll show you how much you contribute, there's a
    fixed percentage, I think, based on your salary.

    So your Medisave funds can pay for hospital expenses and such for yourself or your dependents.

    Medisave can be used to buy Medishield. Which means Medishield premiums can be paid from your Medisave. It's basically like health insurance... it provides financial protection against prolonged or serious illnesses. Medishield Plus members have higher insurance coverage.
    Above mentioned post is accurate.. that basically covers the definition of Medisave and Medishield but it would be worth your while to look online becuase there's a few details like up to how much it can cover, types of illnesses, what hospital charges can be
    covered, etc. Plus claims policies and all that.

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