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SINGAPORE: The CareShield Life and MediSave Care long-term care support schemes will launch on October 1, the Ministry of Health (MOH) announced on Friday (August 28).
The CareShield Life and Long-term Care Bill was passed in September 2019, allowing Singaporeans born in 1980 or later, including those with pre-existing disabilities, to enroll in mandatory long-term disability insurance.
The MediSave Care scheme allows cash withdrawals from MediSave accounts for long-term care needs.
CareShield Life was originally scheduled to launch in mid-2020, but was delayed because agencies and vendors had to slow down the “pace of development and testing work” due to COVID-19 safe distancing measures and the ” circuit breaker, “Health Minister Gan Kim Yong had said in June.
READ: Launch of CareShield Life and MediSave Care Delayed to End of 2020 Due to COVID-19
Singapore residents aged 30-40 in 2020, or those born between 1980 and 1990 inclusive, will be the first cohorts to join the scheme as of October 1 or their 30th birthday, whichever is later.
These individuals will receive a CareShield Life welcome pack by September 2 or up to two months before their 30th birthday.
Subsequent cohorts, or those born after 1990, will automatically join the scheme when they turn 30 and will also receive a CareShield Life welcome pack before they turn 30.
Those who are enrolled between 2020 and 2024 will receive up to S $ 250 in transition grants, the Health Ministry said in a press release on Friday.
The plan is optional for Singapore residents born in 1979 or earlier. Details on when these cohorts can join CareShield Life will be released in 2021, the Health Ministry said.
They will have the opportunity to join CareShield Life, with the option to switch from ElderShield towards the end of 2021. The launch of the scheme for existing cohorts was originally planned for mid-2021.
At $ 600 per month in 2020, CareShield Life initial payments for severely disabled Singaporeans will be higher than the existing ElderShield Scheme, increasing annually until age 67, or when a successful claim is made, the Ministry of Education said. Health.
While ElderShield pays S $ 300 or S $ 400 per month for up to six years, the higher CareShield Life payment has a potential lifetime and as long as the person remains severely disabled.
READ: Six Things You Should Know About CareShield Life, The Enhanced ElderShield Scheme
Singapore residents can use MediSave to pay for their own CareShield Life premiums and for approved dependents, the Health Ministry said.
“No one will lose coverage because they cannot pay their premiums,” the ministry said, adding that the government will provide support measures to ensure that premiums remain affordable.
Up to two-thirds of households will be eligible for CareShield Life premium grants of up to 30 percent, with permanent, resource-verified grants for low- to middle-income Singaporean residents, he added.
“Singaporean citizens with financial need who are unable to pay their premiums even after premium subsidies can apply for additional premium support from the Government.”
MEDISAVE CARE
Under MediSave Care, which also launches from October 1, Singaporeans aged 30 and over can access their spouses’ and their own MediSave accounts to withdraw cash of up to S $ 200 per month for needs. long-term care, or a total of S $ 2,400 per year.
The amount that can be withdrawn depends on the balance of the MediSave account. A minimum of S $ 5,000 should be reserved in the MediSave account “to ensure sufficient savings for other medical expenses, such as hospitalization and expensive selected outpatient treatments,” the Ministry of Health said.
Individuals whose MediSave account balances are insufficient can access their spouse’s MediSave account to supplement retirement, up to a combined total of S $ 200 per month.
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“As our population ages, we want to ensure that Singaporeans continue to have accessible and affordable long-term care. With CareShield Life, Singaporeans with severe disabilities can be assured that they will receive financial support for life, ”Gan said in Friday’s press release.
“They will also have another avenue to finance their long-term care needs, leveraging their MediSave savings in MediSave Care,” he added.
“Together with ElderFund, which provides discretionary government assistance to low-income Singaporean citizens with severe disabilities, these plans will collectively improve support for long-term care costs.”
Claim applications for both schemes will be open from October 1, and interested applicants must arrange for a disability assessment by a Ministry of Health-accredited severe disability assessor and submit the scheme request to the Integrated Care Agency.
