2023 Essential Guide to Singapore’s Elderly Care Subsidies for Medical and Retirement Needs
Last updated on 18 May 2023
In Singapore, the cost of retiring, and meeting nursing and medical needs for the elderly is significant.
Yet, it’s not always easy to talk about such topics. Beyond eating well and staying active, it’s never too early to think about how you can support yourself and your loved ones if they might one day require assistance with daily activities or have complex medical conditions.
For example, the cost of staying in a nursing home in Singapore ranges from S$2,200 to S$4,200 per month, depending on the type of facility and level of care required.
For those who prefer to receive care at home, the cost of hiring a live-in caregiver can range from S$900 to S$1,300 per month, excluding additional costs of food, lodging and insurance for the caregiver.
(Source:Tenor)
Although navigating the financial side of elderly care can be a bit daunting, fret not! We hope to simplify your research journey by compiling a list of subsidies and assistance schemes available in Singapore for nursing, home care, and retirement facility needs.
We’ll continue to update this list with new resources so don’t hesitate to check back regularly!
CareShield Life
1 in 2 healthy Singaporeans aged 65 could become severely disabled in their lifetime, and may need long-term care.
CareShield Life is a long-term care insurance scheme in Singapore designed to provide financial support for individuals with severe disabilities. It covers Singaporeans and Permanent Residents born in 1980 or later, while those born earlier have the option to join.
The scheme offers lifetime coverage with benefits that increase over time to keep up with the cost of living. Starting from a monthly payout of S$600 in 2020, the payout amount increases until age 67 or when a successful claim is made.
The payouts can be used to cover various care needs, such as nursing home fees, home and community-based care, and caregiver support.
This scheme is really inclusive because there are many subsidies available if you are unable to pay for your premiums.
The website states that no one will lose their CareShield Life coverage because of the inability to afford their premiums. Other than being severely disabled, there are also no other significant eligibility criteria like household income.
Home Caregiving Grant (HCG)
The Home Caregiving Grant (HCG) is a financial assistance program in Singapore aimed at supporting families with caregiving responsibilities for loved ones with at least moderate disabilities.
The grant provides a monthly payout of S$200 to help cover caregiving expenses, such as hiring a caregiver, purchasing caregiving supplies, or engaging home-based care services. To apply, the care recipient must be a Singapore citizen or permanent resident, have a per capita monthly household income of S$2,800 or less, and require assistance with at least three activities of daily living.
You can apply online through the Agency for Integrated Care (AIC) website.
Seniors’ Mobility and Enabling Fund (SMF)
In Singapore, the Seniors’ Mobility and Enabling Fund (SMF) provides financial assistance to eligible seniors for purchasing mobility or assistive devices as well as home healthcare items.
The SMF offers subsidies of up to 90% of the cost of the mobility aid or 90% of the maximum device subsidy cap, whichever is lower. This fund covers various types of devices, including walking aids and basic wheelchairs or pushchairs.
To be eligible for the SMF, you must meet certain criteria like your household monthly income per person of $2,000 and below OR Annual Value (AV) of residence reflected on NRIC of $13,000 and below for households with no income.
You should also be under the care of a public hospital, community hospital, day rehabilitation center, or senior care center. You should also not reside in a nursing home or sheltered home.
More info on the application process here.
Foreign Domestic Worker (FDW) Levy Concession
The Foreign Domestic Worker (FDW) Levy is a pricing mechanism used by the Singapore government to regulate the number of foreign domestic workers in the country. Employers of FDWs are required to pay the FDW Levy every month.
The FDW levy concession aims to support households that require caregiving assistance for elderly or disabled family members. Eligible households pay a reduced monthly FDW levy of S$60 instead of the standard S$300.
To apply, FDW employers must indicate in their FDW Levy application that they are living with and caring for an eligible person.
The eligible person must be a Singapore citizen who is either a young child below 16 years old, an elderly person aged at least 67 years old, or a person with disabilities.
From 1 September 2019, the Ministry of Manpower (MOM) expanded the qualifying criteria for the FDW concessionary levy to include extended family members or friends living in the same household who require caregiving assistance. This change provides additional support and relief to FDW employers with such caregiving arrangements.
(Source: Tenor)
Workfare Income Supplement (WIS)
WIS is a Singapore government initiative designed to support elderly or disabled individuals with lower incomes and help them meet their retirement needs.
The programme provides a supplementary income to eligible workers aged 35 and above, with earnings not exceeding S$2,300 per month.
It is disbursed through a combination of cash payments and CPF contributions. For example, an eligible worker aged 60 and above could receive up to S$3,000 per year, with S$900 in cash and S$2,100 in CPF contributions.
Furthermore, WIS not only benefits full-time workers but also extends support to part-time workers, providing them with proportional payouts based on their working hours.
Community Health Assist Scheme (CHAS)
The Community Health Assist Scheme (CHAS) is a government initiative in Singapore aimed at providing affordable healthcare services to Singaporeans.
The scheme offers subsidies for medical and dental care at participating General Practitioner (GP) clinics, dental clinics, and Specialist Outpatient Clinics (SOCs) in public hospitals.
And the best part, all Singaporeans are eligible for CHAS!
(Source: Tenor)
Depending on your household income, you gain access to different CHAS tiers like CHAS Green, CHAS Orange, and CHAS Blue, each offering varying levels of subsidies based on the applicant’s income.
Applying for CHAS is a straightforward process. You can apply online using your SingPass or download the application form and submit it via mail or at any Community Centre or Club (CC).
Once your application is approved, you will receive a CHAS card which you can present at participating healthcare providers to enjoy the subsidised rates.
Conclusion
These are just some of the subsidies and schemes available in Singapore. It is essential to check the eligibility criteria and application procedures for each program and check the websites for the most updated information.
We continuously update our list of subsidies and resources to ensure you have access to the latest information, so check regularly.
Hope this article helps you to better plan and prepare for a fulfilling and worry-free golden years journey!
About Us
“Age Alone Together” is a Singapore-based blog created by a group of family and friends passionate about empowering individuals and couples without children to embrace their golden years with confidence, grace, and connection.
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