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Is it a good idea to top up my medisave to the maximum limit of 50k?

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Old 10-11-2018, 02:49 PM   #1
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Is it a good idea to top up my medisave to the maximum limit of 50k?

Is it a good idea to top up, and then let the 4% interest pay my annual integrated shield plan premium?
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Old 10-11-2018, 03:02 PM   #2
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Is it a good idea to top up, and then let the 4% interest pay my annual integrated shield plan premium?
In my opinion, yes. In fact, one step further. When you're young and earning income, just pay the ISP Premium with cash, and let the Medisave interest keeps compounding. Only from your 60s onwards, you can relax a lil and let the Medisave takes care of all premiums.
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Old 10-11-2018, 03:13 PM   #3
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If u hv cash reserves of 6 mth expenses, then it is good idea to top up medisave, not just for u but yr spouse etc.
topping up SA can earn u tax reliefs up to 14k. I topped up both.
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Old 10-11-2018, 03:32 PM   #4
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Good idea.

Both my MA & SA have hit cap. Cannot top up now.
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Old 10-11-2018, 05:29 PM   #5
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It is only a good idea if you have to work and contribute. For those who donít contribute and have zero balance, they can get free MediShield life from Govt which is a better deal.
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Old 11-11-2018, 09:13 AM   #6
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It is only a good idea if you have to work and contribute. For those who donít contribute and have zero balance, they can get free MediShield life from Govt which is a better deal.
Where to get this and how? What thing is free?
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Old 11-11-2018, 09:20 AM   #7
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Where to get this and how? What thing is free?
I think he means that Medishield Life is free if you're a destitute.
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Old 11-11-2018, 10:17 AM   #8
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I think he means that Medishield Life is free if you're a destitute.
More precisely a destitute or near destitute Singaporean citizen.

Itís a distracting joke, and itís not particularly funny.
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Old 11-11-2018, 07:25 PM   #9
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if u had been working for quite some years the amount should be easily hit.

Not really worth to put cash into it unless u r cash rich.

I hit my cap since years back and the overflow when to my SA but each year there will be an increases of max limit in Mediasave.
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