Insurance
Medisave Care: Withdraw up To $200 a Month for Your Long-Term Care Needs
By Seedly  •  October 29, 2020
As our population ages, new government initiatives have been rolled out to address the growing need for healthcare. As of 1 October 2020, two long-term care support schemes have been launched: CareShield Life and MediSave Care. While much has been covered for CareShield Life and its differences from Eldershield, there is little known about MediSave Care. Here’s a quick guide to what MediSave Care is all about, and how it can help with our long-term care needs! What is MediSave Care? Similar to schemes like Careshield Life and Elderfund, MediSave Care, also known as MediSave Withdrawals for Long-Term Care, is a long-term care financing scheme that allows cash withdrawals from MediSave accounts for long-term care needs. Depending on the MediSave balance amount, Singapore Residents aged 30 and above who are severely disabled will be able to withdraw up to $200/month. Withdrawals can be made from their own and/or their spouses’ MediSave Accounts to meet their financial needs....
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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