Health Minister Gan Kim Yong reiterates importance of CareShield Life for long-term care needs
An elderly man in a wheelchair. (File photo: TODAY)
SINGAPORE: A national severe disability insurance scheme, CareShield Life, to be launched in 2020 will be “more than an insurance scheme”, Health Minister Gan Kim Yong said in Parliament on Tuesday (Jul 10).“It will become an integral part of Singapore’s social safety net. It will provide better protection and assurance for all Singaporeans who join the scheme, through higher payouts for life for those who are severely disabled,” he said.
allow Medisave cash withdrawals with certain conditions, and set up ElderFund, a new financial assistance scheme for people aged 30 and above, and have severe disability. "Preparing for our old age needs is often of low priority when we are younger, as we tend to focus more on building our career and bringing up our children, which is understandable. But starting to prepare only when we are old would be very challenging," he said.