Medical savings account

Medical savings account
Taxation
An aspect of fiscal policy
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Medical savings account (MSA) refers to an account in which tax-deferred deposits can be made for medical expenses.

Contents

In Singapore

Main article: Medisave

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 The savings can be withdrawn to pay the hospital bills of the account holder and his or her immediate family members.

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]

In the United States

Main articles: Medical savings account (United States) and Health savings account

United States has two medical savings account programs:

See also

External links

References

  1. ^ 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. 

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