Personal Finance
Basic Healthcare Sum 2022
By My Sweet Retirement  •  November 27, 2021
The basic healthcare sum (BHS) will increased from S$63,000 in 2021 to S$66,000 in 2022. This means that I have to prepare S$3,000 in cash to top up my MediSave Account (MA) in January 2022. What is the Basic Healthcare Sum? The Basic Healthcare Sum (BHS) is the estimated savings you need in your MediSave Account for your basic subsidised healthcare needs in old age. If you are below the age of 65 The Basic Healthcare Sum (BHS) will be adjusted annually to keep pace with the expected growth in MediSave use by the elderly. If you turn 65 in 2022 If you are turning 65 years old in 2022, the Basic Healthcare Sum (BHS) will be fixed for the rest of your live at 66K.
Benefits of Maxing Out your MediSave Account With the increase in limit for the basic healthcare sum (BHS), we can take the opportunity to top up...
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By My Sweet Retirement
I am a working salaried professional in my mid 30s. Just like most Singaporeans, I worked long office working hours, often trying very hard to find some work life balance. The Sweet Retirement Blog was created to share my journey towards achieving a comfortable retirement life. I believe we cannot simply rely solely on our Central Provident Fund savings when reaching old age. Neither can we rely solely on our bank savings as we all know the interest rates cannot beat inflation.
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