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Will the Ministry of Health be increasing Medisave contribution rates due to the impact of the Additional Withdrawal Limits?
moh
Employer Medisave contribution rates for Medisave were increased by 1% in Jan 2015. This helps to ensure that Singapore Residents can afford their MediShield Life premiums.
Medisave is designed to help Singapore Residents with basic healthcare expenses, especially after retirement. Medisave contribution rates and withdrawal limits are set in line with this principle. With the introduction to Additional Withdrawal Limits (AWLs), MediShield Life premiums will always be fully payable by Medisave, but the AWLs will limit how much Medisave can be used to pay for the additional private coverage component of Integrated Shield Plan premiums.
MOH will monitor and review the adequacy of Medisave contributions. There will not be any changes to Medisave contribution rates arising from the introduction of the AWLs.
This information provided here is sourced from the MOH website.
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