title: Medical savings accounts in Singapore: how much is adequate?
abstract: While many studies have examined the cost-containment aspect of medical savings accounts (MSA), few have investigated the adequacy of MSA to finance the health care expenditure. This paper estimates the present value of lifetime healthcare expenses (PVHE) of the Singaporean male and female elderly upon retirement at age 62. The estimation involves calibrating the stream of future healthcare expenditure; stochastic forecasting of cohort survival probabilities; discounting the projected lifetime healthcare expenditure. Estimated values of the PVHE under various scenarios are used to assess the adequacy of the government-decreed minimum saving to be maintained in the MSA.
authors.affiliation: Department of Economics, National University of Singapore, Singapore 117570, Singapore. ecscnc@nus.edu.sg
authors.forename: Ngee-Choon
authors.initials: NC
authors.lastname: Chia
authors.forename: Albert K C
authors.initials: AK
authors.lastname: Tsui
mesh_terms: D000328:Adult; D000368:Aged; D000369:Aged, 80 and over; D005260:Female; D005102:Health Expenditures / Q000639:trends; D006801:Humans; D008297:Male; D020402:Medical Savings Accounts / Q000191:economics* / Q000706:statistics & numerical data; D008875:Middle Aged; D012846:Singapore