Medisave
Every working individual (Singapore citizen or Singapore Permanent Resident) including the self-employed, is required by law to contribute to the Medisave portion of his CPF account. Medisave funds can be used to pay for hospitalisation expenses for himself or his dependants. Dependants are defined as one’s spouse, children, parents and grandparents who must be Singapore citizens or Permanent Residents.
Medisave can be used to buy Medishield, a medical insurance scheme, for himself and his dependants. It can also be used to buy a non-CPF medical insurance such as Incomeshield but you cannot have both Medishield and another non-CPF medical insurance.