Kaeden Ong

Asset-rich, cash-poor citizens can appeal for help

Posted by Kaeden Ong on 17th July 2014 in Blog

Singaporeans who live in homes with a high Annual Value (AV) but do not earn considerable income can ask for additional subsidies from the government to cope with the higher cost of MediShield Life, according to media reports.

All they need to do is write to the Ministry of Health, and the additional subsidy will be based on the applicant’s situation, according to Health Minister Gan Kim Yong.

“For such cases, we still have additional premium support that will consider their situation on a case-by-case basis. Therefore, I would encourage those who see difficulties to come forward and apply for this (additional premium) subsidy in time to come. If they are deserving, we will help them wherever possible,” he said.

However, Mr Gan emphasised that the additional subsidies are really intended for households struggling with their premiums.

The premium subsidy for MediShield Life depends on the individual’s age and household income, as well as the AV of their houses.

Singaporeans whose homes have an AV of up to $13,000 are eligible for the full subsidy, while those with an AV of between $13,101 and $21,000 will get 10 percentage points less in subsidies.

Those who live on properties with an AV of over $21,000 will only receive transitional subsidies, which are given to all citizens irrespective of their income.

MediShield Life will be launched by end-2015, as part of the government’s plan to improve the national health insurance scheme.

Credits: Property Guru

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