SINGAPORE: Starting next month, the Ministry of Finance (MOF) announced that MediSave top-ups totaling over S$150 million (US$111 million) will be given to about 300,000 seniors who are Pioneer Generation members.
For qualified Singaporeans 65 years of age and older, the annual GST Voucher-MediSave top-ups are supplemented by the MediSave top-ups.
MediSave can be used to cover medical costs such as hospital stays, day surgeries, and some outpatient treatments, as well as the premiums for MediShield Life, CareShield Life, ElderShield, and other insurance plans that have been approved by MediSave.
According to MOF, eligible Pioneer Generation seniors receive yearly top-ups ranging from S$250 to S$900.
However, the Finance Ministry also stated that older seniors with major pre-existing conditions who will be 85 or older in 2024 will receive additional top-ups of S$50 to S$200 annually from 2021 to 2025 to pay their MediShield Life premiums.
To keep MediShield Life premiums affordable for Pioneer Generation members who typically have less MediSave than younger Singaporeans, further MediSave top-ups were first announced in 2020.
According to MOF, the annual MediSave top-ups, in conjunction with the special premium subsidies, “will continue to support the affordability of MediShield Life premiums for all Pioneers.”
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