Medical savings account
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Medical savings account (MSA) refers to an account in which tax-deferred deposits can be made for medical expenses.
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[edit] In Singapore
Medisave (Chinese: 保健储蓄) was introduced in April 1984 as a national medical savings system for Singaporeans. The system 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 system, 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 The savings can be withdrawn to pay the hospital bills of the account holder and his immediate family members.
[edit] In China
In December 1994, China began a pilot study of medical savings accounts in the cities of Zhenjian and Jiujiang.[1]
China has planned to expand the program.[1]
[edit] In the United States
United States has two medical savings account programs:
[edit] See also
[edit] External links
- Medical Savings Accounts: Lessons Learned from Limited International Experience (2002) by World Health Organization
[edit] References
- ^ a b "Medical Savings Accounts: Lessons Learned from Limited International Experience". World Health Organization. 2002. http://www.who.int/entity/health_financing/documents/dp_e_02_3-med_savings_accounts.pdf.
