CareShield Life to offer higher payouts from 2026; $570m of subsidies to offset premium increases
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SINGAPORE — From 2026, CareShield Life will offer higher monthly cash payouts to help Singapore residents with severe disabilities cushion the fast-rising cost of long-term care.The payout growth rate will rise from the current two per cent a year to four pCareShield Life to offer higher payouts from 2026; $570m of subsidies to offset premium increases
SINGAPORE — From 2026, CareShield Life will offer higher monthly cash payouts to help Singapore residents with severe disabilities cushion the fast-rising cost of long-term care.The payout growth rate will rise from the current two per cent a year to four per cent a year from 2026 to 2030. Consequently, those who make a claim in 2030, for instance, will get $806 a month instead of $731.Premiums for the national long-term care insurance scheme will need to rise, but the Government said it will provide an additional $570 million in premium support over the next five years to help policyholders offset the increases.These were among the key changes recommended by an independent CareShield Life Council led by Jeanette Wong, former group executive of DBS Bank. In conducting the review, the council consulted nearly 300 individuals, including caregivers, healthcare professionals, union leaders and community partners.«These enhancements to CareShield Life complement the broader suite of long-term care support measures announced at Budget 2025,» said a Ministry of Health (MOH) spokesperson at a media briefing on the review. Read more
