Voluntary Enrolment of Persons Born Before 1980 into CareShield Life Scheme to-Date and Their Profile and Premium Payable

Ms Sylvia Lim asked the Minister for Health (a) to date, how many persons born before 1980 have voluntarily enrolled into the CareShield Life scheme; and (b) what is the premium payable by such persons to join the Scheme, segmented by gender and age groups.

As at end January 2022, around 537,000 ElderShield 400 policyholders born in 1970 to 1979 have been automatically enrolled into CareShield Life. In addition, we have approved about 60,000 applications from persons born before 1980 to join CareShield Life. All auto-enrollees and approved applicants will have their CareShield Life covers fully activated after their first premium payment, starting from March 2022. However, in the event an individual becomes severely disabled before that, he or she will be allowed to claim.

CareShield Life premiums vary widely across individuals depending on multiple factors, such as age, gender, whether they have an existing ElderShield policy and year of joining CareShield Life. For those who are upgrading from ElderShield 400 to CareShield Life in 2022, the annual premiums for 50-year-old males and females are about $470 and $600, while that for 65-year-old males and females are about $630 and $830. Premiums would be higher for those without an existing ElderShield policy or with ElderShield 300 policy, while premiums could be lower for those who are eligible for means-tested premium subsidies and participation incentives.

To encourage those who are born before 1980 to apply for CareShield Life, the Government has been raising awareness of the scheme through the media and targeted outreach efforts in collaboration with the People's Association, the Silver Generation Office, Social Service Offices, unions and insurers. In addition, the Government provides participation incentives of up to $4,000 for those born before 1980 who join CareShield Life by 31 December 2023. These participation incentives would be used to offset the premiums over 10 years.