How to use Child Development Account (CDA) for your Medisave-approved private integrated plans?

The CDA funds can be used to pay for Medisave-approved private integrated plans for the child and his/her siblings.  Except for Great Eastern insurance company, the trustee will need to pay the premiums upfront using Medisave and apply to MCYS for reimbursement from the CDA funds.

For Great Eastern, please approach the company directly to deduct the premiums from the CDA through Giro arrangement. There is no cap on the amount which can be used to pay for the premiums provided there are sufficient funds in the CDA.

Please note that the CDA funds cannot be used to pay for the rider, which must be paid in cash.

On a personal note, I would suggest that the premiums to be paid via your medisave account and use the CDA funds for other purpose such as paying for the child’s education.