Medical Savings Accounts in Singapore: How much is adequate?
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; and 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.
|Date of creation:||Apr 2005|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.fas.nus.edu.sg/ecs/scape/index.html|
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Satoshi Nakanishi & Noriyoshi Nakayama, 2001. "The Effects of Demographic Change on Health and Medical Expenditures: A Simulation Analysis," NBER Chapters, in: Aging Issues in the United States and Japan, pages 223-248 National Bureau of Economic Research, Inc.
- Marie-Eve Lachance & Olivia S. Mitchell, 2002.
"Guaranteeing Defined Contribution Pensions: The Option to Buy-Back a Defined Benefit Promise,"
NBER Working Papers
8731, National Bureau of Economic Research, Inc.
- Marie-Eve Lachance & Olivia S. Mitchell & Kent Smetters, 2003. "Guaranteeing Defined Contribution Pensions: The Option to Buy Back a Defined Benefit Promise," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(1), pages 1-16.
- W. von Eiff & T. Massoro & Y. O. Voo & R. Ziegenbein, 2002. "Medical savings accounts: a core feature of Singapore's health care system," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 3(3), pages 188-195, September.
- Cox, John C & Ingersoll, Jonathan E, Jr & Ross, Stephen A, 1985. "A Theory of the Term Structure of Interest Rates," Econometrica, Econometric Society, vol. 53(2), pages 385-407, March.
- Chia, Ngee Choon & Tsui, Albert K. C., 2003. "Life annuities of compulsory savings and income adequacy of the elderly in Singapore," Journal of Pension Economics and Finance, Cambridge University Press, vol. 2(01), pages 41-65, March.
- Schieber, G.J., 1997. "Innovations in Health Care Financing. Proceedings of a World Bank COnference, March 10-11, 1997," World Bank - Discussion Papers 365, World Bank.
When requesting a correction, please mention this item's handle: RePEc:sca:scaewp:0502. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.