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Increase in Eldershield Payout?

SINGAPORE :

Health Minister Khaw Boon Wan is mulling an enhancement to the ElderShield payout.

In an interview with MediaCorp, he said he is proposing a payout of S$800 a month over 8 years.

The severe disability insurance scheme for long-term care currently pays out S$400 a month for six years. But he warned the enhancement would mean an increase in premiums.

Mr Khaw said the change is necessary as most patients will desire a higher level of nursing home or home nursing care.

It could cost S$800 to over S$4,000 a month to stay in a private nursing home.

But the health minister stressed that ElderShield's philosophy of insuring only catastrophic needs will not change. This will ensure low premiums and minimise abuses.
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