Medisave Balances

21 Jan 2008

Question No:  491  

Question

Name of the Person: Ms Eunice Elizabeth Olsen

To ask the Minister for Health whether the current Medisave balance of $33,000 is enough to pay for 8 years of treatment, given a recent MOH survey that says Singaporeans suffer 8 years of poor health.

Reply

Reply From MOH

1. The MOH survey on poor health refers to ill-health of varying severity.  This could be mild ill-health due to a short-duration, self-limiting disease such as influenza, or a treatable condition such as a fracture, or a chronic disease such as diabetes.  Being in ill-health does not necessarily mean a person requires hospitalisation.  Many of us continue to lead a normal life with our health being less than perfect. 

2. Most health problems are preventable and everyone can actively do something to improve their health.  Eat a balanced diet, exercise regularly and avoid health-risks like smoking.  Let me take this opportunity to thank Ms Olsen for helping us to promote healthy lifestyle among Singaporeans.

3. Medisave is designed to help Singaporeans cope with their hospitalization expenses at the Class B2/C level.  On average, Singaporeans have $13,600 in their Medisave accounts.  This amount is sufficient for 13 Class C or 10 Class B2 hospitalisations.  Coupled with MediShield, it should take care of most Singaporeans’ basic hospitalization needs.

4. But as we upgrade hospital services to meet rising expectations of patients and bring in new medical technology, costs will continue to increase.  The demand on Medisave will therefore grow.  We need to preserve our savings in Medisave for our old age, and whenever possible, work to increase these savings.  That is also why we have to periodically adjust the Medisave Minimum Sum, currently set at $28,500, and the Medisave Contribution Ceiling currently set at $33,500.