MediSave top-ups for Singapore's elders to be disbursed in July 2023

These can be used to pay the premiums for MediShield Life, CareShield Life, ElderShield and other MediSave-approved plans, as well as medical expenses such as hospitalisation.

Depending on their year of birth, Singapore's elders, i.e. the Pioneer Generation (PG), and the Merdeka Generation seniors (MG) will be receiving MediSave top-ups ranging from S$200-900 in July 2023.

[All dollars referenced in this article are in Singapore dollars, SGD]

Medisave top-ups for eligible Pioneers 

As part of the disbursements, Pioneers will receive MediSave top-ups of between $250 to $900 each year. Additionally, older Pioneers (aged 84 years and above in 2023) who have serious pre-existing conditions will receive further top-ups of $50 to $200 per year from 2021 to 2025 to help them pay their MediShield Life premiums. This was announced by the Ministry of Health (MOH) on 21 December 2020 in order to keep premiums affordable for Pioneers who have generally accumulated less MediSave than younger Singaporeans.

The Medisave top-ups for Pioneer Generation are listed in the below table:

Note - For those with serious pre-existing condition, the additional MediSave top-up is only applicable from 2021 to 2025.

The top-ups for Pioneers will amount to about $160mn this year.

More information on the benefits comprising the PG Package are provided here.

Medisave top-ups for eligible MG seniors

Eligible MG seniors will receive a MediSave top-up of $200 in July 2023. This is part of the MG Package, which was introduced in 2019, to provide MG seniors with assurance over their healthcare costs in their silver years. 

Singaporean seniors who meet the following conditions are eligible for the Merdeka Generation Package:

• Born between 1 January 1950 and 31 December 1959 (i.e. 64 to 73 years old in 2023); and
• Became Singapore citizens on or before 31 December 1996.

The Merdeka Generation Package is also extended to the following Singaporeans:

• Born on or earlier than 31 December 1949 (i.e. 74 years old and above in 2023);
• Became Singapore citizens on or before 31 December 1996; and
• Do not receive the Pioneer Generation Package.

Seeing as MG seniors will receive $200 in MediSave top-ups every year from 2019 to 2023, this is the fifth year that MG seniors are receiving their MediSave top-ups. The top-ups will amount to over $94mn this year.

More information on the benefits comprising the MG Package are provided here.

In total, the MediSave top-ups being given out in July 2023 amount to S$254mn. The recipients can use the amount to pay the premiums for MediShield Life, CareShield Life, ElderShield and other MediSave-approved insurance plans, as well as medical expenses such as hospitalisation, day surgeries, and selected outpatient treatments.

About 450,000 Pioneers and 500,000 MG seniors have benefitted from MediSave top-ups as part of the PG and MG Packages, since their launches in 2014 and 2019 respectively.

The PG and MG MediSave top-ups are provided in addition to the annual GST Voucher – MediSave top-ups for eligible Singaporeans aged 65 and above. The amount of GST Voucher – MediSave that a senior citizen can receive is dependent on age, Annual Value (AV) of place of residence, and the number of properties owned. 

With these enhancements, Pioneers aged 89 and above in 2023 will continue to see their MediShield Life premiums fully covered. Younger Pioneers will have about two-thirds of their MediShield Life premiums covered.

Singapore's Ministry of Finance (MOF) is urging recipients of these top-ups to go digital to receive their notifications earlier. Those who have downloaded and completed their one-time set up on the Singpass app will receive the PG and MG MediSave top-up notifications via their app inbox by 20 June 2023, informing them of the amount of MediSave top-up they would be eligible for.

Thank you for reading our story! Please leave us a comment if you enjoy our content — take our 2023 Readers' Survey here.

Lead image / Shutterstock