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  Members > General Information > Frequently Asked Questions > Healthcare FAQ > FAQs - Medisave Required Amount Read to me - Have this page read out loud Printer Friendly Version
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Frequently Asked Questions on Medisave Required Amount Released by MOH
 

1. Under what conditions will members need to set aside or top-up the Required Amount in their Medisave Accounts?
2. What is the required amount to be set aside or topped-up?
3. Do pensioners need to set aside the Required Amount in their Medisave accounts?
4. How can I find out if I need to top-up my Medisave Account after I reach the age of 55?


1. Under what conditions will members need to set aside or top-up the Required Amount in their Medisave Accounts?
   
The requirement to set aside or top-up the Medisave Account is applicable to members aged 55 and above, who
a. Make CPF withdrawals starting from 1 Jan 2004, including members who make subsequent withdrawals,
b. Meet the CPF Minimum Sum, and
c. Have less than the Required Amount in their Medisave Accounts

The exceptions are:
a. where CPF withdrawals are made on the grounds that a member is physically/mentally incapacitated or found to be of unsound mind, as these members would require their OA and SA savings for their on-going medical treatment.
b. for members who turned 55 before 1st July 1995.
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2. What is the required amount to be set aside or topped-up?
   
The Required Amount for 2008 is $14,000. The Required Amount will increase each year by $2,500 (adjusted for inflation) to reach $25,000 (in 2003 dollars) in 2013.
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3. Do pensioners need to set aside the Required Amount in their Medisave accounts?
   
For pensioners, they will be required to set aside or top-up a lower Required Amount, if they meet the CPF Minimum Sum. The amount depends on what type of medical benefit scheme they are under, as follows:
 
Type of Medical Benefit Scheme   Applicable Required Amount
Fixed Amount on Ward Charges (FAW)
:
0
Co-Payment on Ward Scheme (CPW)
:
Half of the Required Amount
Comprehensive Co-Payment Scheme (CCS)
:
Full Required Amount
 
  Note: The topping-up of the Medisave Account is also applicable to pensioners who have been exempted (in full or partially) from CPF Minimum Sum.
 
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4. How can I find out if I need to top-up my Medisave Account after I reach the age of 55?
   
You can log on to the CPF website with your SingPass, or call the CPF hotline at 1800-227-1188.
 

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 Last Updated on: Monday, June 23, 2008 at 5:42 PM
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