Government to run ElderShield from 2021, taking over from three private insurers

SINGAPORE – The Government will run ElderShield from 2021 after reaching an agreement with Aviva, Great Eastern and NTUC Income, the private insurers currently administering the insurance scheme for people with severe disabilities. In a statement on Monday (Jan 7), the Ministry of Health (MOH) said that the Government will operate the scheme on a not-for-profit basis. “In the event that the actual claims experience turns out better than expected, there will continue to be premium rebates for ElderShield policyholders.” With the change, MOH said ElderShield policyholders will be able…

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News Singapore 

Plan to improve ElderShield will boost social safety net: Experts

Singapore’s disability insurance scheme – will strengthen the country’s social safety net, said experts. But at the same time, certain issues – such as the affordability of premiums and convincing people of the need to review the scheme – have to be ironed out before any changes are made, they added. Yesterday, the ElderShield Review Committee released a set of four recommendations on how to improve the scheme. These include lowering the age at which people join the scheme and making it compulsory for everyone in the group to come on board…

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