CareShield Life supplements: An extra hedge against rising long-term care costs
For ‘super-aged’ Singapore, heavy burden of care falls on public health services, families and personal finances
Add BT as a preferred source
[SINGAPORE] That we could live very long lives to our 90s and beyond is surely a blessing – but it’s also a daunting prospect, at least to me.
Will I be in good health? If not, would I have the resources to fund possibly many years in a disability that could be crippling?
Last week, the Ministry of Health (MOH) unveiled an enhancement to Singapore’s national long-term care insurance, CareShield Life. From next year, the scheme’s monthly benefit will grow at a rate of 4 per cent a year, from 2 per cent currently. To cushion the expected premium rises, the government is providing S$570 million in premium support over the next five years.
TRENDING NOW
Profit with purpose: Kim Choo Kueh Chang’s pivot from public listing to protecting heritage
Singapore Kitchen CEO, senior manager charged with alleged fraud, falsifying accounts; both to stay in jobs for now
Record Singapore-US rate gap may widen further on inflows and hawkish Fed outlook
Marco Polo Marine shares plans to unlock value as boutique fund manager becomes substantial shareholder
