Medical savings account
 |
This article or section is in need of attention from an expert on the subject. The following WikiProjects or Portals may be able to help recruit one: If another appropriate WikiProject or portal exists, please adjust this template accordingly. (February 2009) |
A medical savings account (MSA) is an account in which tax-deferred deposits can be made for use as medical expenses.
Contents |
[edit] In Singapore
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 The savings can be withdrawn to pay the hospital bills of the account holder and his or her immediate family members.
[edit] In China
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]
[edit] In the United States
The United States has two medical savings account programs:
- Medical savings account (started 1993, still prevalent in California)
- Health savings account (created 2003, supersedes MSAs, more widely available)
[edit] See also
[edit] References
[edit] External links
- "Health Savings Plans: Protecting Your Savings". Health 401k. 25 December 2011. http://www.health401k.com/2011/12/health-savings-plans/. Retrieved 19 January 2012.
