MediSave Care is designed to complement insurance schemes such as CareShield Life/ElderShield/Supplement payouts, Government subsidies, Government assistance schemes, community support, personal savings and family support, to help individuals better meet their long-term care financing needs. The Government determined the MediSave Care withdrawal amount by considering the basic long-term care costs across various services and settings, other available sources of long-term care funding, and the need to maintain MediSave adequacy.

 

In contrast, ElderFund is targeted at helping lower-income Singaporeans who are unable to benefit from CareShield Life or ElderShield and have low MediSave balances for their long-term care needs.

 

That explains why the ElderFund payout of $250 is higher than the MediSave Care withdrawal amount of $200.