Goodie bag worth S$8 billion for the Merdeka Generation

TL;DR – Now you can go and tell your Papa, Mama, uncles and aunties.

In the Budget 2019 statement delivered by Finance Minister Heng Swee Keat on Feb 18 (Monday), he announced that Singaporeans who are born in the 1950s will be receiving a package of healthcare benefits as a gesture of the nation’s gratitude for their contributions and a way to show care for them in their silver years.

The package, called the Merdeka Generation Package, will provide the Merdeka Generation better peace of mind over future healthcare costs, while helping them to stay active and healthy.

Close to 500,000 Singaporeans are expected to benefit from the package.

Goodies in the Merdeka Generation Package

The Merdeka Generation Package has five healthcare benefits:

• One-off $100 top-up to PAssion Silver Cards
  – where the seniors can use the top-up to pay for activities and facilities at Community Clubs (CC), entry to public swimming pools, public transport and many more.
• Annual Medisave Top-up of $200 per year for 5 years (from 2019 – 2023)
• Additional subsidies for outpatient care
  – Special subsidies at CHAS GP and dental clinics
  – Additional 25% off subsidised bills at polyclinics and public Specialist Outpatient Clinics (SOCs)
• Additional MediShield Life Premium subsidies
  – Additional 5% subsidy for annual premiums, increasing to 10% after age 75
• Additional participation incentive of $1,500 for joining CareShield Life, when it is available from 2021
  

$6.1 billion set aside for the Merdeka Generation Package

The full projected costs of the Merdeka Generation Package are estimated to cost more than S$8 billion. The money for the package will come from a new Merdeka Generation Fund where S$6.1 billion has been set aside and from interest accumulated over time.

Eligibility

Those born in the 1950s and who obtained citizenship by 1996 will be eligible for the Merdeka Generation package.

The package will also be extended to those born in 1949 or earlier, but missed out on the Pioneer Generation Package (PGP), if they obtained citizenship by 1996.

Beneficiaries of the package will be notified by April and receive their Merdeka Generation cards from June 2019.