Others
Fact Sheet: Advancement of NS Home Awards Medisave Component
5 March 2015
This article has been migrated from an earlier version of the site and may display formatting inconsistencies.
MediShield Life will be launched by the Ministry of Health (MOH) later this year. The Ministry of Defence (MINDEF) and Ministry of Home Affairs (MHA) will facilitate the use of the Medisave component of the NS Housing, Medical and Education (NS HOME) Awards to help pay for our national servicemen's MediShield Life premiums.
For the first milestone payment of their NS HOME Awards, full-time National Servicemen (NSFs) currently receive $3,000 in their Post-Secondary Education Account, and $2,000 in their Central Provident Fund Medisave Account (CPF-MA). From September 2015, MINDEF and MHA will provide advance disbursements of $200/year of the NS HOME Medisave grant to NSFs, to help them cover their MediShield Life premiums while they are serving full-time NS. NSFs will receive the first advance one month after they enlist, and second advance 12 months later. The remainder of the NS HOME Medisave grant [i.e. $2,000 minus the total amount of advances received] will be disbursed into their CPF-MA when they complete their full-time NS.
For example:
[For more information on MediShield Life, click here]
More Resources