Personal Finance
How to Top Up Medisave for Your Parents in 3 Easy Steps
By Singapore Financial Planners  •  September 27, 2023
Are you looking for ways to support your parents’ healthcare needs? Topping up their Medisave account is a great way to ensure they have sufficient funds for medical expenses. In this post, we will guide you through the simple steps of how to top up Medisave for your parents, ensuring their peace of mind and access to quality healthcare.

Why Top Up Medisave for your Parents

Medisave is a national medical savings scheme designed by the Ministry of Health to set aside a portion of your income to pay for any medical needs. With longer life expectancy and rising healthcare costs, saving up for your parents’ health security is growing ever more important. Here are 6 key reasons why you should top up your parents’ Medisave accounts:

Grow Their Healthcare Savings

By depositing money into their Medisave accounts, your parents’ healthcare savings will grow with an up to 5% compounded
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By Singapore Financial Planners
We believe in the power of financial literacy. It’s unfortunate that schools do not provide crucial life lessons like financial planning. Thus, we created Singapore Financial Planners to create a space where we provide financial education so that you can make an informed decision.
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