Richmond Tung

ElderShield is an insurance cover that was designed to help those who become too severely disabled to manage their own everyday care. Launched by the Ministry of Health in 2002, the plan provides a monthly cash payout that can be used for the many costs of daily care at home or in hospital.

ElderShield classifies a person as severely disabled when they are consistently unable to perform at least 3 out of 6 of the following tasks, even with special equipment or constant assistance.



Washing
The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.
Dressing
The ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.
Feeding
The ability to feed oneself food after it has been prepared and made available.
Toileting
The ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.
Mobility
The ability to move indoors from room to room on level surfaces.
Transferring
The ability to move from a bed to an upright chair or wheelchair, and vice versa.
Individuals with pre-existing conditions may apply for ElderShield coverage, with approval subject to underwriting and other restrictions.

It is estimated that among the elderly, 1 in 12* will eventually need constant specialised care due to severely disabling accident or illness. If it happened to you or a loved one, what would you do? With the cost of in-home and institutional care on the rise, even a brief disability can become very expensive. In Singapore alone, with healthcare cost on the rise, this has become a more important matter to consider.
* Source: 1999 Inter-ministerial committee on Health Care to the elderly.

Who are included in the scheme?

Any CPF member with a Medisave account is automatically covered by ElderShield at age 40. No sign-up or medical assessment is required to join, and both Singaporeans and Permanent Residents are eligible. Eligible residents below age 65, or anyone who has previously declined the coverage, can complete and return the Application form to make a new application for coverage.

How Does it Work?

ElderShield provides payments to cover the costs of long-term care resulting from a severe disability. The programme offers a monthly cash payout, up to $400, for a period of up to 72 months. The latest benefit expands ElderShield’s previous protection, which was limited to $300 per month for a term of 60 months.

Severe Disability Insurance can help you cover the cost of care and recovery following a disability due to accident and illness. The Ministry of Health’s ElderShield scheme, introduced in 2002, provides participants with this basic level of protection.

A severe disability due to accident and illness can happen to anyone at any age. The impact on you and your loved ones can be traumatic, especially as daily care costs continue to rise. If you were disabled tomorrow and unable to work, how would you survive?

There are plans provided by the private insurers to supplement this basic plan by the government, we shall explore in detail how the plans work out. Catch the next episode.

Regards
Richmond