Rationale for Not Replacing ElderShield with CareShield Life
Ministry of HealthSpeakers
Summary
This question concerns the implementation of CareShield Life, specifically the rationale for not replacing ElderShield for all citizens and the possibility of gender-neutral premiums. Members of Parliament also sought details on actuarial models, the scheme's cost-efficiency relative to private insurers, and the criteria for providing additional premium support. Minister Gan Kim Yong responded to these inquiries by requesting the Speaker's permission to address the questions during his subsequent Motion on CareShield Life. The Speaker granted this request, allowing the Minister to handle the queries as part of the formal Motion.
Transcript
5 Assoc Prof Daniel Goh Pei Siong asked the Minister for Health why CareShield Life is not replacing ElderShield for all Singaporeans with transitional subsidies to ease the shift, as was the shift from MediShield to MediShield Life in 2015.
6 Ms Sylvia Lim asked the Minister for Health whether the Government will review the principles for setting premiums for the proposed CareShield Life scheme so as to have equal premiums for men and women.
7 Mr Leon Perera asked the Minister for Health (a) how are premiums and payouts for CareShield Life calculated in respect of assumptions, such as the targeted capital adequacy ratio and medical loss ratio for the scheme; (b) whether the actuarial model determining such CareShield Life premiums and subsidies will be made publicly available; and (c) how does the ratio of premiums to payouts and the actuarial model used compare to similar Government schemes in other developed countries.
8 Mr Dennis Tan Lip Fong asked the Minister for Health how will the Government ensure that the CareShield Life scheme to be administered by the Government will be as or more cost-efficient as compared to ElderShield which is run by private insurers.
9 Mr Leon Perera asked the Minister for Health (a) whether there will be additional support for those who cannot afford to pay CareShield Life premiums even after means-tested premium support; (b) how will the quantum of such additional support be determined; and (c) whether and to what extent will disposable income be used in making this determination as opposed to merely per capita household income.
The Minister for Health (Mr Gan Kim Yong): Mr Speaker, as I will be moving a Motion on CareShield Life shortly. May I have your permission to take Question Nos 5 to 9 during the Motion?
Mr Speaker: Yes, please.
Mr Gan Kim Yong: Thank you.