From November, elderly Singaporeans can draw more from their Medisave accounts to pay for health insurance.

The Government said the move, which was in response to public feedback, will help keep health-care costs here affordable. On Friday, the Ministry of Health announced that those aged 66 and above will have their Medisave withdrawal limit for MediShield and Integrated Shield plans raised by $200.

This is the second time this year that Medisave withdrawal limits have been increased. In March, the cap went from $800 to $1,000 for those above 75, and from $1,150 to $1,200 for those older than 80.

Parliamentary Secretary for Health and Transport Muhammad Faishal Ibrahim said the decision to allow higher Medisave withdrawals was made partly because of feedback received from the Our Singapore Conversation exercise.

“This is a process of how we can enhance our health-care system, and at the core of it is affordability,” he said on Friday.

“We want to make sure Singaporeans are able to afford the premiums to protect themselves, so that they are able to lead a good life with peace of mind.”

Associate Professor Faishal was speaking on the sidelines of the Intermediate and Long-Term Care Quality Festival in Furama RiverFront Hotel.

The announcement that Medisave withdrawal limits have been increased for insurance premiums comes a month after Prime Minister Lee Hsien Loong’s National Day Rally, during which he revealed a pivotal change to MediShield, the national health insurance scheme. In his speech, he said the revamped scheme, MediShield Life, will cover every Singaporean regardless of age or pre-existing conditions. But it will also mean higher premiums.

See full story at health.asiaone.com

photo source: http://topnews.ae/content/27704-pro-elderly-health-reforms-clan-lashes-out-political-establishment-uk