Press Releases
Medisave balance for deceased patients
9 April 2013
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8 April 2013
Question No. 1074
Name of Person: Mr Patrick Tay Teck Guan
Question
To ask the Minister for Health for each year from 2008 to 2012, what is the average amount of monies left in the CPF Medisave Account of CPF account holders who have passed away.
Answer
Half of CPF members aged 65 or older who passed on in 2012 had about $2,700 or less. About one-third of them had less than $1,000. Some of them may also have benefited from government top-up, as well as from the use of their children’s Medisave either as a form of top-up or direct payment for healthcare expenses on their behalf.
2. We need to help Singaporeans maintain adequate Medisave balances to help pay for their old-age healthcare expenses, as well as remain covered under Medishield, possibly up to age 90.
3. Any unused Medisave balance forms part of the total CPF balances which are bequeathed to the deceased member’s family.