Medifund Silver

21 Feb 2008

Medifund Silver, with a set up capital sum of $500 million, was launched in November last year in restructured hospitals and institutions. In 2007, a total of $6.1m has been disbursed to these institutions to help needy patients under Medifund Silver. In April 2008, Medifund Silver will also be rolled out to the rest of the Medifund-approved institutions in the Intermediate and Long-Term Care sector to benefit more elderly patients.

With an ageing population, the Ministry of Health had decided to carve out a portion of Medifund as Medifund Silver to deliver assistance to needy elderly patients in a more targeted manner. Any Singaporean 65 years or above can apply for Medifund Silver which like Medifund serves as a safety net of last resort to those who are unable to afford basic healthcare despite heavy government subsidies, Medisave and MediShield.

In 2006, about one-third of the 290,000 beneficiaries of Medifund were over the age of 65. Demand for such financial aid by elderly Singaporeans is expected to grow as the number of Singaporeans over 65 years is estimated to grow to 336,400 by 2010.

Elderly needy patients who have problems paying their medical bills can approach the Medical Social Workers of Medifund-approved restructured hospitals, national centres for assistance.  Local Medifund committees at the approved hospitals and institutions will decide on the appropriate level of assistance for the applications.

MINISTRY OF HEALTH

21 February 2008