Financial Support

Fees Comparison & LAM Nursing Home Affordability

LAM charges between $1,600 to $2,900 for private residents and $400 to $1,000 for subsidised residents

  • Additional LAM charity assistance given as well

Other Services in the Market

Day-care for the elderly

For healthy seniors

  • $250 to $1,200 a month

Day-care & Rehab centres

For seniors who need a little medical care

  • Fees range from $6 to $160 per session
  • Approx. $1,000 to $1,600 a month

Hiring domestic help

For healthy seniors who need company

  • A live-in helper generally costs $600 to $850 a month

Live-in nurse

For seniors who need constant medical care

  • Approx. $1,000 to $1,300 a month

Other Nursing homes

For constant medical care

  • Fees range from $1,600 to $9,000 a month

Financial Assistance

 
List of financial assistance schemes in Singapore:

CareShield Life

*New in 2020* CareShield Life is a new basic long-term care insurance scheme that features higher payouts that increase over time with no cap on payout duration, to provide better protection and assurance against the uncertainty of long-term care costs if you become severely disabled.

Benefits

Monthly cash benefits for as long as the policyholder remains severely disabled. Payouts start at $600 per month in 2020 and increase until age 67, or when the policyholder makes claims, whichever is earlier.

Eligibility

If you are born in 1980 or later:
If you are born between 1980 to 1990 (aged 30 to 40 in 2020), you will be automatically covered by CareShield Life in 2020. If you are born after 1990 (aged below 30 in 2020), you will be automatically covered by CareShield Life when you turn 30.

If you are born in 1979 or earlier:
You can choose to join CareShield Life in 2021, if you are not severely disabled. To make joining CareShield Life more convenient, you will be automatically covered by CareShield Life from 2021 if you are a Singapore Resident born between 1970 and 1979 and are insured under the ElderShield 400 scheme and are not severely disabled. If you are automatically covered and do not wish to participate in the scheme, you have up to 31 Dec 2023 to opt out from the scheme and get your premiums refunded.

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ElderShield

ElderShield was introduced in 2002 as a basic long-term care insurance scheme targeted at severe disability, especially during old age. The scheme currently provides cash payouts of $300 or $400 per month, for up to 5 or 6 years. For more information on ElderShield, visit www.eldershield.sg.

Benefits

Monthly cash benefits of $400 for 72 months or $300 for 60 months, depending on the ElderShield scheme the policyholder is enrolled in.

Eligibility

Unable to perform three or more of the six Activities of Daily Living (ADLs), and certified by an approved assessor. These six activities are eating, washing, dressing, transferring, toileting and walking or moving around.

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Interim Disability Assistance Programme For The Elderly (IDAPE)

Interim Disability Assistance Programme for the Elderly (IDAPE) is a government assistance scheme providing financial help to needy and disabled elderly Singaporeans who were not eligible to join ElderShield when it was launched in 2002 because they had exceeded the maximum entry age or had pre-existing disabilities.

Benefits

$250/$150 monthly cash benefits depending on the applicant’s per capita household monthly income.

Eligibility

  • Unable to perform three or more of the six Activities of Daily Living (ADLs), and certified by an approved assessor. These six activities are eating, washing, dressing, transferring, toileting and walking or moving around.
  • Born on 30 September 1932 or before; or born between 1 October 1932 and 30 September 1962 (both dates inclusive), with pre-existing disabilities as of 30 September 2002
  • Per capita household monthly income not exceeding $2,800
  • Singapore Citizen and living in Singapore

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ElderFund

*New from 31 Jan 2020* ElderFund is a new discretionary assistance scheme targeted at assisting severely disabled lower-income Singapore Citizens aged 30 and above, who are not able to benefit from CareShield Life, ElderShield and the Interim Disability Assistance Programme for the Elderly (IDAPE), and have low MediSave balances and inadequate personal savings to meet their long-term care needs.

Benefits

Cash benefits up to $250 per month for as long as the policyholder remains eligible

Eligibility

  • Unable to perform three or more of the six Activities of Daily Living (ADLs). These activities are eating, washing, dressing, transferring, toileting and walking or moving around
  • For Singapore Citizen, aged 30 and above, and residing in Singapore
  • Guiding financial criteria: Household monthly income per person is $1,200 or less, and MediSave balance of less than $10,000
  • Not a CareShield Life or ElderShield policyholder and not eligible for Interim Disability Assistance Programme for the Elderly (IDAPE), or no longer an active recipient of ElderShield claims and IDAPE

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