Basic Healthcare Sum. Or perhaps, you’d still remember it as the CPF Medisave Limit or Medisave Cap Limit.
Quite a few years ago, the official term given was actually Medisave Contribution Ceiling (MCC) but on the 1st of January 2016, MCC was renamed as Basic Healthcare Sum.
So, despite the name changes, what is it really?
Recap – What is the Medisave Minimum Sum?
A long time ago, the Medisave Minimum Sum (MMS) is described as the amount that a person turning 55 needs to set aside in his old age for his own or his dependants’ healthcare expenses and basic MediShield and ElderShield premiums.
Medisave Minimum Sum is the minimum amount needed in one’s Medisave account before he is able to withdraw other Central Provident Fund monies from age 55. This item was removed in January 2016.
Recap – What is the Medisave Contribution Ceiling?
Instead of the minimum amount that was mentioned in the previous section, the Medisave Contribution Ceiling (MCC) is...