Press Releases
Medisave for own expense
21 October 2011
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21 Oct 2011
Question No: 11
Question By: Gerald Giam
To ask the Minister for Health what percentage of Singaporeans currently draw from their adult children's Medisave accounts to pay for their own healthcare expenses.
Reply from MOH
In 2010, there were around 2 million working Singaporean CPF members, of which 80,000, or less than 5%, used their CPF to pay for their parents’ healthcare expenses. If we exclude older CPF members, the proportion will be slightly higher. Singaporeans withdrew a total of $732 million from their Medisave accounts in 2010. Of this total amount withdrawn, 18% was withdrawn to pay for the parents’ treatment. [Out of the total amount of Medisave withdrawn for the elderly’s healthcare expenses last year, about 45% was from their children’s accounts.]
MOH is mindful of the burden borne by the younger generation in supporting the healthcare expenses of their elderly parents. The Government has from time to time provided top-ups to the Medisave accounts of the elderly. Between 2005 and 2011, nearly $1 billion was distributed to elderly Singaporeans this way. Workfare also helps low-income elderly build up their Medisave by providing additional contributions over and above the general CPF contribution rates. We will continue to explore ways to provide more help for the elderly, especially those in the low and middle-income families.