Navigating the world of long-term care can be daunting, especially when it comes to understanding schemes like MediSave Care.
In this post, you’ll learn:
- What MediSave Care is and who is eligible
- How MediSave Care can be used
- Step-by-step guide on how to apply for MediSave Care
- Key benefits and practical examples
Did you know that many Singaporeans miss out on essential benefits simply because they are unaware of schemes like MediSave Care?
Don’t let that be you.
If you’re curious about how this scheme can help you or your loved ones manage long-term care costs, read on.
What is Medisave Care?
MediSave Care is a long-term care scheme introduced by the Singapore government to provide financial support for individuals with severe disabilities.
The scheme aims to alleviate the financial burden associated with long-term care needs, ensuring that you or your loved ones can access essential care services without depleting your savings.
By easing the financial burden, MediSave Care allows you to focus on recovery and maintaining your independence.
Launched as part of Singapore’s broader healthcare financing framework, MediSave Care allows Singaporeans and Permanent Residents aged 30 and above to tap into their MediSave accounts for long-term care expenses.
This initiative is particularly crucial for those who are unable to perform Activities of Daily Living (ADLs) independently due to severe disabilities.
Who is covered by MediSave Care?
MediSave Care is designed to provide financial assistance for individuals with severe disabilities, ensuring that they can afford the necessary long-term care services.
To be covered by MediSave Care, you must meet the following eligibility criteria:
- Singaporean Citizen or Permanent Resident
- Aged 30 Years Old and Above
- Have a MediSave Account Balance of at least $5,000
What can MediSave Care be used for?
There are multiple things that the MediSave Care can be used for, but here are the key things to note:
Acquiring Mobility Support Devices
MediSave Care funds can be utilised to buy essential assistive devices, such as wheelchairs and hospital beds, which are crucial for enhancing mobility and independence for individuals with severe disabilities.
Hiring Temporary Caregiver Services
You can also use MediSave Care to hire interim caregiver services.
This ensures that you or your loved ones receive the necessary support and assistance, particularly during transitional periods of care.
Attending Physiotherapy or Speech Therapy Sessions
MediSave Care can be used to cover the costs of attending physiotherapy or speech therapy sessions, providing essential rehabilitation and support for individuals recovering from severe disabilities.
Required Nursing Procedures
The scheme also allows for the arrangement of necessary nursing procedures, ensuring that comprehensive and professional care is accessible to those in need.
This includes a range of medical and nursing services tailored to individual requirements.
Covering Outpatient Costs and Treatments
MediSave Care funds can also be used to cover the costs of outpatient care and treatments, ensuring that individuals receive the necessary medical attention and support without the financial burden of high medical expenses.
What are the MediSave Care withdrawal limits?
The MediSave Care withdrawal limits are up to $200 per month from your MediSave account.
This limit ensures that you have a consistent and manageable amount of funds available to cover essential care expenses without rapidly depleting your MediSave savings.
By setting these limits, MediSave Care aims to offer reliable and ongoing support for individuals with severe disabilities.
| MediSave Balance | Monthly Withdrawal Limits |
| $20,000 | $200 |
| $15,000 and above | $150 |
| $10,000 and above | $100 |
| $5,000 and above | $50 |
| Below $5,000 | Nil |
You can also use your spouse’s CPF if you don’t have enough in your medisave. However, the total limit still applies.
So if you’re using $100 from your own MediSave, you can only withdraw $100 from your spouses.
How to apply for MediSave Care?
Here’s a step-by-step guide to applying for MediSave Care:
Get Assessed by a Severe Disability Assessor
The first step in applying for MediSave Care is to undergo an assessment by a Ministry of Health (MOH)-accredited severe disability assessor.
This assessment will determine if you are eligible based on your ability to perform Activities of Daily Living (ADLs), such as feeding, dressing, and mobility.
The fees are as follows, if:
- You visit an assessor’s clinic: $100
- An assessor visits your house: $250
Submit Your Application
Once you have been assessed and found eligible, the next step is to submit your application.
This involves providing the necessary medical documents and filling out the required application forms.
Ensure that all the information provided is accurate to avoid delays in processing.
If the recipient is living in a nursing home, they can help with the MediSave Care application.
Wait for Your Application to be Processed
After submitting your application, it will be reviewed by the Central Provident Fund (CPF) Board.
During this period, the CPF Board will verify the details and determine your eligibility.
If your application is successful, you will be notified, and you can start withdrawing funds from your MediSave account for your long-term care needs.
Frequently Asked Questions
Why is MediSave Care restricted to those aged 30 years and above?
MediSave Care is restricted to those aged 30 years and above to ensure that funds are available for individuals who are more likely to require long-term care.
As people age, the likelihood of developing severe disabilities increases, making it essential to provide financial support to those in this age group.
By setting this age limit, the scheme aims to prioritise resources for those who need it most.
Why is there a need to set aside a MediSave balance of at least $5,000 to be eligible for MediSave Care?
Setting aside a MediSave balance of at least $5,000 ensures that there are sufficient funds available to support monthly withdrawals for long-term care expenses.
This requirement helps maintain the sustainability of the scheme, ensuring that beneficiaries can consistently access financial support without depleting their MediSave accounts too quickly.
Why is the withdrawal quantum under MediSave Care based on my MediSave account’s balance?
The withdrawal quantum under MediSave Care is based on your MediSave account’s balance to ensure that the funds are used sustainably.
By tying the withdrawal limits to your account balance, the scheme ensures that you do not exhaust your MediSave savings too quickly, providing a steady stream of support for your long-term care needs.
This approach helps maintain financial stability and ensures that there are adequate funds available over time for ongoing care.
Are Singaporeans who are residing overseas eligible for MediSave Care?
Singaporeans who are residing overseas are generally not eligible for MediSave Care.
The scheme is designed to support residents in Singapore who require long-term care due to severe disabilities.
To qualify, applicants must be assessed by a Ministry of Health (MOH)-accredited severe disability assessor, a process that typically takes place within Singapore.
This ensures that the scheme’s resources are allocated to those residing in the country and contributing to the local healthcare system.
Conclusion
Understanding and utilising MediSave Care can make a significant difference in managing long-term care needs.
We’ve covered what MediSave Care is, who is eligible, and how it can be used to support various aspects of care, such as buying assistive devices, hiring caregiver services, attending therapy sessions, arranging nursing procedures, and covering outpatient treatments.
We also walked through the application process to ensure you know how to get started.
If you’re feeling overwhelmed or confused about MediSave Care, don’t worry – you’re not alone.
Financial matters can be complex, but help is available.
Feel free to reach out and talk to one of our trusted financial advisor partners.
They’re here to provide clarity and guide you through your options, ensuring you make the best decisions for your long-term care needs.
Remember, taking that first step towards understanding and planning for your care can lead to greater peace of mind and better financial security.
