Why am I not allowed to make a withdrawal under MediSave Care to meet the long-term care needs of my parent/child?
With MediSave Care, the Government is allowing cash withdrawals from MediSave for the first time. Hence, we have decided to start with a more cautious approach. Currently, MediSave Care only allows the applicant to withdraw from his/her own MediSave, supplemented by his/her spouse’s MediSave, for his/her long-term care needs. As the period that individuals could remain in severe disability can vary significantly, the period of withdrawal and amount withdrawn can be substantial. When coupled with other existing withdrawals, allowing those with severe disability to tap on their children’s MediSave for withdrawals could potentially impact their children’s MediSave adequacy and compromise their ability to afford their own healthcare needs. Similarly, allowing MediSave Care withdrawals from the parents of those with severe disability could affect the elderly’s ability to afford their own medical expenses in old age.
Singapore Citizens who are in need in need of financial assistance and have low MediSave balances may apply for ElderFund. If you remain unable to pay for the costs of your long-term care needs, there are additional forms of assistance such as MediFund and ComCare.
This information provided here is sourced from the MOH website.
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