ElderShield claims double to S$58m between 2008 and 2012: Health Minister

ElderShield claims double to S$58m between 2008 and 2012: Health Minister

    By Claire Huang
    POSTED: 13 May 2013 11:36 PM
  
ElderShield claims have more than doubled from S$23 million to S$58 million between 2008 and 2012.

SINGAPORE: ElderShield claims have more than doubled from S$23 million to S$58 million between 2008 and 2012.

Health Minister Gan Kim Yong said in his written parliamentary reply that the number of claims in the same period also rose from 3,900 to 4,900.

He said claims are only expected to grow significantly in future as the scheme matures and more policyholders shift into the older age groups.

By end-2012, there were one million basic ElderShield policyholders. This means about 59 per cent of resident population is aged 40 to 80.

Mr Gan said the enrolment rate for ElderShield has improved over the years. In 2012, more than 92 per cent of those who turned 40 years enrolled in the insurance scheme, which provides basic protection from severe old-age disability.

Of the one million ElderShield policyholders, 26 per cent have purchased riders. Those aged above 80 are not eligible for ElderShield but may apply for coverage under the government-funded Interim Disability Assistance Program for the Elderly (IDAPE) instead.

- CNA/ac

- wong chee tat :)