Medical Savings Accounts in Singapore: How Much is Adequate?
National University of Singapore
Albert K.C. Tsui
National University of Singapore (NUS) - Department of Economics
Journal of Health Economics, Forthcoming
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.
Number of Pages in PDF File: 38
Keywords: Medical savings accounts, present value of lifetime health care expense, cohort survival probabilities
JEL Classification: G00, H51, I18, J11, J14Accepted Paper Series
Date posted: January 19, 2005
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo1 in 1.016 seconds