Can I use my excess Contribute-As-You-Earn (CAYE) contributions to offset my outstanding MediSave payable?
CAYE contributions in excess of your MediSave payable for the year will be automatically used to offset your outstanding MediSave payable from previous years, if any1. Any excess thereafter will be refunded to your bank account.
You can also choose to boost your healthcare savings by retaining the excess CAYE contributions in your MediSave Account to earn up to 5% interest per annum, and to offset future MediSave payable. To do so, please apply via the Self-employment dashboard using your Singpass.
1This will take effect for CAYE contributions made from 2023. Please write to us if you do not wish to use your CAYE contributions to offset your outstanding MediSave payable from previous years.
