We often confuse MediSave and MediShield Life with one another because they sound alike. Truth is, the 2 schemes greatly differ. Learn how to distinguish them both as we take you through their differences in this article! Nature of the Scheme MediSave As its name suggests, MediSave is a savings account. Managed by the Central Provident Fund (CPF) Board, it is 1 out of the 4 savings accounts – alongside the Ordinary Account (OA), Special Account (SA) and Retirement Account (RA) – under Singapore’s national savings scheme. MediSave is intended to alleviate the cost of medical treatment for you and your dependents, where its monies can be used to waive a portion of your medical bills. Claims on MediSave for healthcare expenses are subjected to the stipulated withdrawal limits. Find out all that you need to know about MediSave in our comprehensive guide! MediShield Life Like CareShield Life and ElderShield,