in
What is MediSave Care (also known as MediSave Withdrawals for Long-Term Care)?
cpf
Source: https://www.cpf.gov.sg/memberMediSave Care is a long-term care scheme which was launched on 1 October 2020. Under MediSave Care, Singapore Citizens and Permanent Residents aged 30 and above who are severely disabled will be able to make monthly cash withdrawals from their own and/or their spouse’s MediSave for their long-term care needs.
After setting aside a minimum amount to ensure adequacy for other medical expenses, severely disabled Singapore Citizens and Permanent Residents will be able to withdraw up to a total of $200/month from their own and/or their spouse’s MediSave. The table below shows the MediSave balances and corresponding monthly withdrawal quanta.
Table: MediSave Balances and corresponding Monthly MediSave Withdrawal Quantum for Severely Disabled Singapore Citizens and Permanent Residents aged 30 and above.1
MediSave Balance | Monthly Withdrawal Quantum | |
---|---|---|
$20,000 and above | $200 | |
$15,000 and above | $150 | |
$10,000 and above | $100 | |
$5,000 and above | $50 | |
Below $5,000 | Nil |
1Serverely Disabled Singapore Citizens and Permanent Residents can withdraw from their spouse's MediSave Account, if they have insufficient MediSave balances, and their spouse has MediSave balances of $5,000 or more. Withdrawals from their spouse's MediSave will also be subject to the same MediSave balance thresholds. The total withdrawal from their own and/or spouse's MediSave is capped at $200/month.
For more FAQs on MediSave Care, please visit the CareShield Life website.
This information provided here is sourced from the CPF website.
Can’t find what you’re looking for?