MOH appoints ElderShield Review Committee

1.            The Ministry of Health (MOH) has appointed an ElderShield Review Committee to study ways to enhance ElderShield, as part of the efforts to further strengthen our social safety nets for an ageing population. The Committee is expected to complete the review and submit its recommendations to MOH by end 2017.   

2.            The existing ElderShield scheme has been in place since 2002, and was last amended in 2007. The review of ElderShield was announced by Prime Minister Lee Hsien Loong in his National Day Rally speech 2016, to provide better support for Singaporeans who become severely disabled during their old age. 

Terms of Reference

3.            The Terms of Reference for the ElderShield Review Committee are as follows:
            a.         To review the ElderShield design parameters and make recommendations on them, so as to ensure that ElderShield can provide adequate, affordable and sustainable old-age severe disability coverage for Singaporeans.

            b.         To consider key issues and trade-offs involved in the review of the ElderShield parameters, such as the balance between benefit enhancements and premium levels.

            c.         To engage with Singaporeans, key stakeholder groups and experts, and take into consideration their views in conducting the review.

ElderShield Review Committee

4.            The ElderShield Review Committee will be chaired by Mr Chaly Mah, Chairman of the Singapore Accountancy Commission and former CEO of Deloitte Asia Pacific and Southeast Asia. The composition of the ElderShield Review Committee can be found in Annex A [PDF, 204KB].

5.            On behalf of the ElderShield Review Committee, Mr Mah said: “We are honoured to be entrusted with the responsibility of reviewing ElderShield. We hope to recommend enhancements to the scheme for better protection for Singaporeans, while ensuring that the scheme remains affordable and sustainable over the long-run. My Committee members and I also intend to engage a broad range of stakeholders during the review, and take their views into account.”

6.            Minister of State for Health, and Communications and Information Chee Hong Tat said, “We have enhanced MediShield to MediShield Life to provide universal and lifelong protection for all Singaporeans against large hospitalisation bills.  It is now timely to review how ElderShield can be enhanced to provide sufficient support and peace of mind for Singaporeans, while ensuring that the insurance scheme remains affordable and sustainable for the long-term. MOH will work closely with the ElderShield Review Committee to study possible ways to enhance the existing ElderShield scheme, including having lifelong payouts and strengthening the protection through risk-pooling and provision of government subsidies for low-income Singaporeans.”

7.            Members of the public who would like to find out more about ElderShield, or provide feedback to the ElderShield Review Committee, can refer to the following link: www.eldershield.sg.
 

MINISTRY OF HEALTH
7 OCTOBER 2016