Koh Poh Koon on CareShield Life and Long-Term Care (Amendment) Bill
Targeted changes are proposed for CareShield Life to ensure it remains a robust and sustainable pillar of Singapore’s long-term care financing system. Senior Minister of State for Health Koh Poh Koon gave details in parliament on Wednesday (Oct 15). First, the planned underwriting criterion will be reinstated for Optional Cohorts - those born in 1979 and earlier - from 2026. This is after a concessionary period of four years which was meant to encourage enrolment. All Optional Cohort policyholders will benefit from the move because with the earlier concession, premiums had to be set higher to account for the possibility of people with mild to moderate disabilities being more likely to join the scheme. This risk will now be reduced. Currently, new Singapore Citizens and Permanent Residents in the same age range are also covered under CareShield Life if they are not severely disabled when they become citizens or PRs. From next year, this group can only enrol if they are not disabled. The second key change is to strengthen premium recovery processes. Demand notes will be able to be served to defaulters digitally, not just through physical letters.
Targeted changes are proposed for CareShield Life to ensure it remains a robust and sustainable pillar of Singapore’s long-term care financing system. Senior Minister of State for Health Koh Poh Koon gave details in parliament on Wednesday (Oct 15). First, the planned underwriting criterion will be reinstated for Optional Cohorts - those born in 1979 and earlier - from 2026. This is after a concessionary period of four years which was meant to encourage enrolment. All Optional Cohort policyholders will benefit from the move because with the earlier concession, premiums had to be set higher to account for the possibility of people with mild to moderate disabilities being more likely to join the scheme. This risk will now be reduced. Currently, new Singapore Citizens and Permanent Residents in the same age range are also covered under CareShield Life if they are not severely disabled when they become citizens or PRs. From next year, this group can only enrol if they are not disabled. The second key change is to strengthen premium recovery processes. Demand notes will be able to be served to defaulters digitally, not just through physical letters.
