Singapore – Opposition Singapore Democratic Party chairman, Dr Paul Tambyah focused discussions on a long-term care insurance scheme called CareShield Life, noting the public could hold the Government accountable for the money being collected.

Dr Tambyah, a senior consultant at the National University of Singapore and president-elect of the US-based International Society of Infectious Diseases, took to Facebook on Sunday (August 30), to inform the public that he would be discussing the CareShield Life plan with those who are interested to learn more about the Ministry of Health’s (MOH) scheme that is launching on October 1.

According to the MOH, CareShield Life is a long-term care insurance scheme that provides basic financial support should Singaporeans become severely disabled, especially during old age, and need personal and medical care for a prolonged duration (i.e. long-term care).

The initiative was established to address Singapore’s ageing population. “As our population ages, we want to ensure that Singaporeans continue to have accessible and affordable long-term care,” said Ministry for Health Gan Kim Yong in a statement on Friday (August 28). “With CareShield Life, severely disabled Singaporeans can be assured that they will receive financial support for life.”

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Coverage for CareShield Life is as follows, based on the MOH website.

Singaporeans born in 1980 or later:
If you are born after 1990 (aged below 30 in 2020), you will be automatically covered when you turn 30, regardless of pre-existing medical conditions and disability. You will receive a letter about two months before your 30th birthday, and premiums will be made available closer to your 30th birthday.

If you are born between 1980 to 1990 (aged 30 to 40 in 2020), you will be automatically covered on October 1, 2020, or when you turn 30, whichever is later, regardless of pre-existing medical conditions and disability. You will receive a letter between September to October 2020 with your policy details.

Singaporeans born in 1979 or earlier:
If you are born in 1979 or earlier (aged 41 and above in 2020), participation is optional. You can apply to join CareShield Life from end-2021 onwards if you are not severely disabled. There is no age limit. More information on how to apply will be provided closer to end-2021.

To make joining more convenient, if you are born between 1970 and 1979 (aged 41 to 50 in 2020), insured under ElderShield 400, and not severely disabled, you will be automatically enrolled into CareShield Life from end-2021. However, you can opt-out by December 31, 2023, if you do not wish to remain on CareShield Life. More information on auto-enrolment will be provided closer to end-2021.

Eligible citizens will begin paying annual premiums using their Medisave accounts upon reaching their 30th birthday and cease payments at the age of 67, totalling to 38 premiums. In return, they would be covered for the rest of their lives, receiving payouts of at least S$600 a month in the event of a severe disability requiring long-term care.

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“We have no choice about participating in this, but we can document its impact and ensure that everyone who is eligible benefits,” said Dr Tambyah in response to the news. “We can also hold the government accountable for the money they are collecting for CareShield Life.”

Dr Tambyah was at Fajar Shopping Centre coffeeshop on Tuesday evening (September 1) and went live on Facebook through his Ask Paul Anything segment to discuss more details on the insurance scheme.

https://www.facebook.com/PaulTambyah/posts/2641302882776237

https://www.facebook.com/PaulTambyah/videos/356341072068829/

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/TISG

ByHana O