Everything you need to know if you are expecting a child in 2019

Congrats if you are expecting a child soon!
I've a close friend who is expecting and I thought of rounding up ALL that she should know. I'd share it here with you too =)

List of things to note. You might want to go directly to your relevant section

​​Before baby born: MediSave Maternity Package

To see more on Medisave Maternity package this infographics from CPF will help!

If you are delivering this year, you can make Medisave claims for pre-delivery expenses such as

- pre-natal consultations

- ultrasound scans and tests​

- delivery expenses

incurred at both public and private healthcare institutions.

The MediSave withdrawal limits are up to

Once baby is born: Medisave Grant For Newborns and Medishield Life

A CPF MediSave account will be opened for your newborn and the grant will be credited automatically.

If your child is born a Singaporean now, he/she will AUTOMATICALLY qualify for the enhanced $4,000 MediSave Grant for Newborns. There's a CPF letter that comes in a few weeks to confirm on it.

You can use this medisave funds for your integrated shield plan premiums, approved child vaccinations and even hospitalization cost if it occurs. 

Joining the Scheme

You can submit the online form for your child to join the Scheme as early as 2 months before your estimated delivery date. Please click here for the form.

Baby Bonus One-Stop Service

You may approach the Citizen Connect Centres or the Baby Bonus One-Stop Centres at the Immigration & Checkpoints Authority and the birth registration counters at these hospitals:

• Gleneagles Hospital
• KK Women’s and Children’s Hospital
• Mount Alvernia Hospital
• Mount Elizabeth Hospital
• Mount Elizabeth Novena Hospital
• National University Hospital
• Parkway East Hospital
• Raffles Hospital
• Singapore General Hospital
• Thomson Medical Centre

You will receive a total of $8,000 if this is your first child. This baby bonus will be given in 5 installments which is spaced over 18 months.

Once baby is born: Child Development Account (CDA)

You can expect your child’s CDA to be opened within 3 to 5 working days of their birth registration, or after completing the online form, whichever is later.

The CDA is a special savings account and there are incentives the sooner you apply. 

You can open a CDA with DBS/POSB , OCBC or UOB for your child 

The Government will match your savings in the CDA within 2 weeks for up to $3,000 for your first child!

Your child will receive an additional up to $3,000 of CDA First Step grant. So total of $6,000 kind of given to your childs CDA account. 

I use savings in the CDA to mainly childcare fees.

These funds can get depleted quite quickly so funds are definitely well contributed.

You may read our post on Why OCBC CDA right here.

Once baby is born: Maternity and Paternity Leave

Government created the Marriage & Parenthood Package in 2013 (if I'm not wrong) to increase benefits given such as maternity leave etc. More info can be found in this link to MOH.

Mothers: Government-Paid Maternity Leave (GPML)

If you are a mum to be, you will be entitled to maternity leave under the GPML scheme

Important things to note:

• You can start your maternity leave 4 weeks before the delivery date and no later than the delivery date. All maternity leave must be taken within 12 months from your child's date of birth (inclusive of date of birth).
  
  
• Your first 8 weeks of maternity leave must be taken in one continuous block (including weekends and public holidays). The last 8 weeks can be taken flexibly, if there is mutual agreement between your employer and yourself.
  
  
• For your 1^st and 2^nd child order (see definition below), the Government will pay for the 9^th to 16^th week of your maternity leave. It is capped at $10,000 per 4 weeks or a total of $20,000 per child order. 
  
  
• For your 3^rd and subsequent child order, the Government will pay for all 16 weeks of your maternity leave. It is capped at $10,000 per 4 weeks or a total of $40,000 per child order.
  
  

For other inquiries for application or eligibility, click here  

Fathers: Government-Paid Paternity Leave (GPPL)

If you are a dad to be, you are entitled to maternity leave under the GPPL scheme

Important things to note:

• By default, your paternity leave must be taken in one continuous block (including weekends and public holidays) within 16 weeks from your child's date of birth (inclusive of date of birth).
• The 2 weeks of paternity leave can be taken flexibly, if there is mutual agreement between your employer and yourself.
• All paternity leave must be taken within 12 months from your child's date of birth (inclusive of date of birth).
• You cannot use your paternity leave to offset the notice period when you leave your job.
• Paternity leave is fully paid by the Government. It is capped at $2,500 per week.

For other inquiries for application or eligibility, click here 

Once baby is home: Tax Relief and Parenthood Tax Rebate

Before the tax filing season, is good to know what tax rebates are available for you to take advantage of. 

Working Mother's Child Relief (WMCR)

If you are a new working mother, you will soon see a huge discount to your tax bill!

In my opinion, it's among the most powerful relief!

For earnings of $100k, the 15% WMCR on your first child will be a $15k relief given to your coming tax bill.

That's like $1,000+ in tax savings easily?

Parenthood Tax Rebate

Tax rebate is different from tax relief. But it's even more powerful!

It is a straight off discount on your tax payable!

Let’s recap on how taxes are calculated

TOTAL INCOME - Personal relief (CPF,SRS, etc..) = CHARGEABLE INCOME  

Then, CHARGEABLE INCOME  *   TAX RATES  = TAX PAYABLE

Now with Parenthood Tax Rebate, you further reduce the tax payable.

TAX PAYABLE - Parenthood tax rebates = FINAL TAX PAYABLE

​

If your original TAX PAYABLE bill was $6,000, with a $5,000 PTR, you only pay $1,000!

To read more on relief and rebates, click on our post here for parents!

Once baby is home: Infant Care Subsidy

The child care and infant care subsidy is to help you to defray some of the cost of child care fees.

To qualify for the infant care subsidy, your kid must be a Singapore Citizen aged 2 to 18 months.

The additional subsidy is dependent on your household income and you can refer to the MSF List of Subsidy Tables and Worked Examples.

For a more accurate subsidy deduction, check out the subsidy calculator

Once baby is home: NTUC Good Start Bundle

This is a freebie you don't want to miss out! Ends 31 Dec 2019!!!

• FairPrice FairMily Kit (worth up to $100). This kit includes milk powder (for babies above six months old), grocery essentials, and an exclusive FairPrice Online deal.
• Complimentary entry to The Little Skool-House Early Literacy Centre(worth $180). Every Thursday, enjoy FREE entry to The Little Skool-House Early Literacy Centre (ELC) at Downtown East for you and your child! 
• Complimentary one-year health insurance coverage for your newborn under NTUC. My suggestion is to go for the Enhanced IncomeShield Plans.
• Complimentary Plus! card

Click here to sign up and apply !!

Once baby is home: Apply integrated shield plan

We have updated our shield plan calculator from all 7 insurers (Prudential ,Aviva ,Great Eastern,NTUC Income AIA,AXA) and compared different prices.

This is to help you know on premiums for your child in a quick glance. 

Use our comparison calculator here.

I've seen kids medical bills for simple procedures costing more than $4,000!

We have written a massive guide, comparing Shield Plans offered by ​ALL insurers here!

Apply as early as possible to get your child properly covered for medical needs.

Take care!