Medical savings account

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A medical savings account (MSA) is an account in which tax-deferred deposits can be made for use as medical expenses.

In Singapore[edit]

Main article: Medisave

Medisave (Chinese: 保健储蓄) was introduced in April 1984 as a national medical savings system in Singapore. 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 The savings can be withdrawn to pay the hospital bills of the account holder and his or her immediate family members.

In China[edit]

In December 1994, China began a pilot study of medical savings accounts in the cities of Zhenjiang and Jiujiang.[1] China has planned to expand the program.[1]

In the United States[edit]

The United States has two medical savings account programs:

See also[edit]

References[edit]

External links[edit]