Q: Who is CareShield Life eligible for? Can I sign up for CareShield Life on behalf of my parents?
A: Singaporeans and Permanent Residents (PR) born after 1980 are automatically eligible for CareShield Life on October 1, 2020 or when they turn 30, whichever is later.
People born between 1970 and 1979 who use ElderShield 400 and do not have a severe disability are automatically enrolled in CareShield Life starting December 1, 2021.
If you were not automatically enrolled in CareShield Life, you can sign up. Enroll by December 31, 2023 to receive up to $4,000 from the government to offset 10 years of premiums.
You can encourage parents to sign up for CareShield Life and guide them through the process. You can also use MediSave to support your insurance premiums or use cash to top up her MediSave.
Q: How much does CareShield Life cost? Will the amount increase each year?
A: Your CareShield Life premium is based on multiple factors, including your age, gender, pre-existing ElderShield policy, and the year you enrolled in CareShield Life. Annual premiums also increase with age and through periodic government adjustments.
Use the CareShield Life Premium Checker eService to see how much your insurance is worth. www.careshieldlife.gov.sg.
From now until 2025, premiums for under 67s (exclusive of Goods and Services Tax) will increase by 2% each year. Premium increases beyond 2025 will be recommended by the independent CareShield Life Council according to the Framework.
Q: When do I have to pay the premium?
A: Your premium payment period depends on your age at which you enrolled in CareShield Life.
Premiums must be paid annually until age 67 or for 10 years, whichever is later. However, premiums will be waived during the claim period.
Q: What is Critical Disability and what is the monthly payment for CareShield Life?
A: To be eligible for benefits, you must first be evaluated by a disability assessor certified by the Ministry of Health.
You are eligible for benefits if you are assessed as incapable of performing at least 3 of the 6 activities of daily living (eating, washing, toileting, moving or walking, changing clothes, transferring from bed to chair).
Payments start at $612 per month in 2021 and increase annually until age 67 or successful claim, whichever comes first.
As an example, here is a breakdown of payments by year:
https://www.straitstimes.com/singapore/health/askst-what-is-careshield-life-and-who-is-covered askST: What is CareShield Life and who is it for?