Sunday, May 06, 2018

Is Medisave a good scheme?

Medisave was introduced in April 1984. It required CPF members to set aside a part of their savings that can be used only for medical expenses.

I asked this question in the Wisdom of the Crowd - Is Medisave a good scheme?

44% said no, basic medical expenses should be paid out of taxation and not personal savings.

27% said yes, it allows CPF members to use their savings to pay eligible medical expenses.

18% said no, it has led to the Medisave savings being spent wastefully.

11% said the CPF savings should be reduced and people should pay their medical expenses using cash.

A total of 73% consdier that the Medisave is not a good scheme.

See the pie chart in

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