Pay them millions and they are only good in changing name only?

SINGAPORE — Changes to Medisave were announced by Health Minister Gan Kim Yong in his Ministry’s Committee of Supply debate today (March 11).

The Medisave Minimum Sum (currently S$43,500, which is the minimum amount needed in one’s Medisave account before he is able to withdraw other Central Provident Fund monies from age 55) will be removed from January next year.

At the same time, the Medisave Contribution Ceiling will be renamed the Basic Healthcare Sum. It will be set at S$49,800, which is 2.7 per cent higher than the current Medisave Contribution Ceiling of S$48,500 set last year. Beyond 2016, the Basic Healthcare Sum will be adjusted annually to keep pace with Medisave use by the elderly, said Mr Gan.

The Basic Healthcare Sum is designed to be enough for CPF members’ basic subsidized healthcare needs in old age. Amounts above this Sum will flow to their Special or Retirement Accounts to boost monthly payouts.

From 2016, the Basic Healthcare Sum for each cohort of Singaporeans will be fixed when they turn 65 – unlike now, where annual Medisave Minimum Sum adjustments are applied to everyone. The change aims to allow CPF members more certainty on the amount of Medisave they should keep retirement healthcare needs, said Mr Gan.

To increase flexibility for use of Medisave, four more conditions – epilepsy, ostepporosis, psoriasis and rheumatoid arthritis – will be covered under Community Health Assist Scheme and Medisave use from June this year. This brings the total number of conditions under the Chronic Disease Management Programme to 19.

Its time we change Gahman, get rid of these parasites.

We want our money back!

Frankly speaking, PAP is really full of crap! Keep twisting and turning, packaging and re-packaging but in the end, it's a case of LPPL. Confusing, disconcerting and in the end, utterly self-serving. Knn.

Yeah confusing is the word.

time to vote PAP out.
i look forward to the next GE

tictactoe said:

Yeah confusing is the word.

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I have read the announcements many times over but still don't understand the gist of the changes.
Ok the headlines say no need to meet the MMS requirements at age 55. Then they say the ceiling will be raised.
and the maximum sum for the new scheme(Basic Health Care) will be raised annually. And from next January and will be fixed for each cohort when they turn 65, with no subsequent changes in their lifetime -

this is so confusing. I was hoping that since they scrap the MMS requirement, what I have now can be released but it don't appear so.

Does it mean at age 55, you don't need the MMS ? then why bother with the rest of the BHC? since u start age 56 at zero.

Can some of us here with a better understanding help me clear my head.

slohand2 said:

I have read the announcements many times over but still don't understand the gist of the changes.
Ok the headlines say no need to meet the MMS requirements at age 55. Then they say the ceiling will be raised.
and the maximum sum for the new scheme(Basic Health Care) will be raised annually. And from next January and will be fixed for each cohort when they turn 65, with no subsequent changes in their lifetime -

this is so confusing. I was hoping that since they scrap the MMS requirement, what I have now can be released but it don't appear so.

Does it mean at age 55, you don't need the MMS ? then why bother with the rest of the BHC? since u start age 56 at zero.

Can some of us here with a better understanding help me clear my head.

Click to expand...

Currently the medisave minimum sum is $43,500. That means if your medisave has more (say you reach the ceiling of $48,500), you can withdraw the difference. When this is "removed", your $48,500 will be frozen there and you can't touch it.

ahpong said:

Currently the medisave minimum sum is $43,500. That means if your medisave has more (say you reach the ceiling of $48,500), you can withdraw the difference. When this is "removed", your $48,500 will be frozen there and you can't touch it.

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If i dont use my 48.5 for my medical, how?

shittypore said:

If i dont use my 48.5 for my medical, how?

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Will it to your offspring.

ahpong said:

Currently the medisave minimum sum is $43,500. That means if your medisave has more (say you reach the ceiling of $48,500), you can withdraw the difference. When this is "removed", your $48,500 will be frozen there and you can't touch it.

Click to expand...

Just fucking vote them out and remove this bullshit policy.

better yet, protest and throw them out...

slohand2 said:

I have read the announcements many times over but still don't understand the gist of the changes.
Ok the headlines say no need to meet the MMS requirements at age 55. Then they say the ceiling will be raised.
and the maximum sum for the new scheme(Basic Health Care) will be raised annually. And from next January and will be fixed for each cohort when they turn 65, with no subsequent changes in their lifetime -

this is so confusing. I was hoping that since they scrap the MMS requirement, what I have now can be released but it don't appear so.

Does it mean at age 55, you don't need the MMS ? then why bother with the rest of the BHC? since u start age 56 at zero.

Can some of us here with a better understanding help me clear my head.

Click to expand...

Tsk tsk, IMHO, Sounds like LPPL?

Really cuntfused!!

ahpong said:

Currently the medisave minimum sum is $43,500. That means if your medisave has more (say you reach the ceiling of $48,500), you can withdraw the difference. When this is "removed", your $48,500 will be frozen there and you can't touch it.

Click to expand...

don't quite follow you but it seems like those having met the current MMS will be status quo and frozen till the end of time. But if you can indulge me further, those who turn 55 and don't need the MMS, how will their BHC be built up?

thanks

And its suppose to help us understand the Medisave scheme more? I can tell you I am more confused

slohand2 said:

don't quite follow you but it seems like those having met the current MMS will be status quo and frozen till the end of time. But if you can indulge me further, those who turn 55 and don't need the MMS, how will their BHC be built up?

thanks

Click to expand...

If you reach 55 and have $48,500 in medisave and $161K in retirement account, you can withdraw ($48,500-$43,500) as cash. Now, effectively the medical minimum sum is increased to the amount of medisave ceiling ($48,500) and you can't withdraw any.

slohand2 said:

And its suppose to help us understand the Medisave scheme more? I can tell you I am more confused

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Looks like we have to wait for their stupid cartoon character conversations to either help us or confuse us more.

ahpong said:

Will it to your offspring.

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If no off spring, chiong kong is it?

Bet your last dollar that even your MP will not be able to explain clearly, even if in dialect.
The so-called change is made because according to the clown of a minister son of a Gan,
nearly 50% of active CPF members do not have sufficient amount to cover the basics anyway.
So they act big and generous by "scrapping" it.