Medifund is an endowment fund set up by the Government to help needy Singaporeans. Medifund is a safety net for patients who face financial difficulties with their remaining bills after receiving Government subsidies and drawing on other means of payments including MediShield Life, private Integrated Shield Plans (IPs), Medisave and cash. Set up in April 1993 with an initial capital of $200 million, the Government will inject capital sum into the fund from time to time, e.g. when budget surpluses are available. The interest income generated from the capital sum is used to provide financial assistance for healthcare bills.
To provide more targeted assistance for the needy elderly and the young, Medifund Silver and Medifund Junior was introduced in 2007 and 2013 respectively.