Do we really need this CareShield Life? Can opt out?

[fantastyy]

Wait what?? Im still so young.. I have no money to payyy for this! I pay already also won't use. Not like I will get into accident in the future. (touchwood)

 

[drowningfish101]

Wait what?? Im still so young.. I have no money to payyy for this! I pay already also won't use. Not like I will get into accident in the future. (touchwood)

Bro just because you're young doesn't mean you don't have the chance to be disabled leh. Additionally, you stated that you no money to pay for this; imagine *touchwood* u rly get into accident, that one u rly no money pay alr. This one i guess it's just a safety net lor. If don't kenna good lor. If kenna at least got backup ma.

PS. I sound like some pro but cheyy all i read from this article one. https://www.policypal.com/blog/insurance/careshield-life-young-healthy/

 

[fr33d0m]

Honestly, yes it seems that it is a waste of money, but in life we don't know what is going to happen. And, once it happens, ppl tends to kpkb and regret not buying any safety net to cover. Its whether u wan to risk it. Singapore is trying to help us lighten the financial burden even if it might happen in a super rare chance.

For me, who don't like to take risk, definitely will swing towards of covering myself. I feel that in the future, when you are severely disabled, it is very difficult and hard to find a job to lighten my workload.

My ultimate goal is to live comfortably and no regrets.

Even though, it might be pricey, but we live in comfort in the same time. We're covered and insured.

#cheers

For working adult, look for other disability income insurance. This is a different insurance, mainly for people after retirement.

 

[moolala]

Wait what?? Im still so young.. I have no money to payyy for this! I pay already also won't use. Not like I will get into accident in the future. (touchwood)

u know why they making this compulsory?
because young people like u won't enroll into this expensive nonsense to subsidise people with alot of problems
you are also right, statistically, u won't even use this if u are young, very very low percentage

in the US, they had to implement individual mandate because they know the young and healthy won't get insurance but it got struck off

 

[chrisloh65]

I get out of Singapore like 4 times or more a year to go overseas to spend a few weeks there to spend and save on GST, very shiok! (except now because of CoVid).

How many times do you have to get out of Singapore to enjoy and save on GST?

Don't tell me you stuck in Singapore most of the time with no time for enjoyment?

GST has been here for so many years yet you still are in SG.

Get out of here.

 

[fr33d0m]

I get out of Singapore like 4 times or more a year to go overseas to spend a few weeks there to spend and save on GST, very shiok! (except now because of CoVid).

How many times do you have to get out of Singapore to enjoy and save on GST?

Don't tell me you stuck in Singapore most of the time with no time for enjoyment?

If you are so inclined to be in another country, why come back? Enjoy your GST-free shopping in another country.

LOL.

 

[chrisloh65]

Who are you to tell us that we cannot come here or go there? You are just nobody in Singapore you know?!

Anyway, since you are a nobody in Singapore, obviously I can have the freedom to be anywhere I want, as long as I have the time and can afford it isn't it? Why you so jealous of others who can go anywhere anytime for holidays and shopping etc that you need to be so rude and behave like a rascal? Your mother didn't teach you well and you become a spoilt brat despite being a nobody in Singapore?

If you are so inclined to be in another country, why come back? Enjoy your GST-free shopping in another country.

LOL.

 

[8zaoyu]

it's funny how u proved my point and yet dismiss it as bs

u take the example of GST. well GST applies if u decide to purchase something (taking an action)

how can u justify a mandatory premium if u are not taking any action to do a transaction in the economy

so the justification for inaction taxation comes from income tax... hence if u earn nothing, what can the government do to make u pay?

essentially ur arguing its a fine on every person under this program
regardless of whether its legally justifiable or not, the government has a right to impose a fine on everyone regardless of their situation even though they have committed no crime

well I beg to differ and the Obamacare fiasco has demonstrated why

Pls note this insurance program was conceived by Dr Amy khor and her team. and they used the Obamacare as inspiration for this socialist nonsense

I am not against CareShield Life (compulsory for those after 1980 only?) as ultimately we lived too old, we might need tube inlet for milk feeds and cathethas/urine bags for urine outlet and adult diapers for catching poos. You need a maid for this work too. The $600 monthly life payouts for this loss of ADLs (activities of daily living) comes in handy for very old common people who don't have passive income that come from rental or dividend yield stocks or only CPF Life under low payouts Basic with pledged property Scheme only (lots of Freelancers/Self businesses for those born after 1980 nowadays). But to start at 30 years old is ridiculous. Dr Amy Khor and team can propose the scheme but the admin work to convince to get the money from those who cannot pay is mad work. I feel that like the ElderShield when I was not convinced to give, it should be delayed till 50 for CareShield to pay? Not bargainable, meh? Yes, usually citizens DO LEAVE SG if they study abroad and found jobs and decent housing overseas, no need you to say.

 

[moolala]

LOL
U VOTED FOR PAY-AND-PAY .

https://www.straitstimes.com/singap...ns-more-coverage-and-benefits-next-year-under

Tiagong medishied premiums going up to 35%

song bo, nice road map for careshield to do the same!

how to switch citizenship ah? I was born here, everything I have is sg

government will decide what kind of coverage u need, the more the merrier!
give more coverage for careshield, u pay more and more!

ur cpf run out also need pay! ask ur ah gong ah ma lao bu to eat their cpf

this is by law! a constitutional law!

no limit to how much they can charge u!

 

[Cookie Muncher]

they funded a lot for covid. time to take back with force

 

[IamLucy]

Let us know when those born after 1980 de can opt out .... ty

 

[BBCWatcher]

how to switch citizenship ah?

The typical path is to emigrate to another country that’ll have you, legally reside there for some number of years, acquire that country’s citizenship, and thus lose your Singaporean citizenship. It just so happens that the U.S. Diversity Visa Lottery should open in a couple days — it’s usually held starting in the first few days of October — so you can grab a free lottery ticket if you wish. (Very roughly 10 million people per year do.) Singaporeans also have the privileged H-1B1 visa path into the U.S., although that’s a nonimmigrant visa type and requires employer cooperation (not always given) to shift to a green card.

Several countries have points-based immigration systems, including some predominantly English speaking ones, and many Singaporeans find it fairly easy to qualify.

However, you will have to pay CareShield Life premiums as long as they’re still owed and as long as you’re a Singaporean citizen, assuming you don’t qualify for a full waiver. You’ll also have to pay MediShield Life premiums for at least 5 years after you leave Singapore as long as you’re a Singaporean citizen, assuming again you don’t qualify for a full waiver. Emigration and eventual foreign citizenship is not an immediate fix.

....Well, there’s a somewhat quicker “fix” potentially. A couple countries sell their citizenships. You can become a citizen of St. Kitts and Nevis, for example, if you’re willing to pay for it with legally sourced funds and are not a criminal or disreputable person (as that nation sees it). Then you can move to St. Kitts and Nevis after acquiring your paid citizenship. However, that’ll cost more now just for the citizenship than a lifetime of CareShield Life and MediShield Life premiums. St. Kitts and Nevis is another small country beginning with the letter S, and it’s located in the Caribbean. The major hazard there is hurricanes, and they’re getting worse with global climate change. Citizens of St. Kitts and Nevis have decent tourist travel options to other countries, but it’s a much weaker travel passport than Singapore’s. It’s a tax haven if that matters, even more so than Singapore in many respects. They might have compulsory insurance requirements too — not sure about that.

I think Malta and Cyprus are pretty quick too, but they’re more expensive, and I think both require residence. And I doubt you’ll escape compulsory insurance requirements. Most countries have such requirements in some form or other.

 

[virus1988]

Answer: You cannot opt out of CareShield Life if you're a Singaporean citizen or Singapore Permanent Resident born in 1980 or later (and remain a Singaporean citizen or Singapore Permanent Resident).

How about Medishield and Medishield Life? Can it be opt out? Someone here mention that he/she opted out the Eldershield

 

[8zaoyu]

ElderShield was an opt in at age 40 yrears old then, no need to opt out. Before MediShield, there was IncomeShield. When there is a MediShieldLife (meaning till Death) payouts agreed, become Compulsory Scheme liao. If your Medisave Account gone down to zero, your parents or adult kids suppose to top up, if they means-tested poor (low Medisave Account themselves), apply through the Medical Social Worker for Medifund lor.

 

[BBCWatcher]

How about Medishield and Medishield Life? Can it be opt out?

If you’re a Singaporean citizen permanently living overseas then you might qualify for a full suspension of MediShield Life premiums. You are not required to apply for this suspension even if you qualify.

 

[semiret]

If I remember correctly ElderShield when started was auto opt in. If you decided not to join the scheme you are allow to opt out.

 

[chopra]

cannot opt out

no one answered ts???????

 

[BBCWatcher]

no one answered ts???????

Post #4 answered the thread starter’s question.

 

[dappermen]

cannot opt out

no one answered ts???????

i saw so many versions of the Ans - partially answered ONLY
If u r a Singapore Citizen or Permanent Resident born in 1979 or earlier:

born between 1970 and 1979, you will be automatically enrolled in CareShield Life from end-2021, if you are currently covered under the ElderShield 400 (ESH400) scheme and are not severely disabled at the point of auto-enrolment. You can opt out of CareShield Life by 31 Dec 2023 if you do not wish to join the scheme. You will automatically be placed back onto your ESH400 scheme.

Those who are not auto-enrolled can choose to join CareShield Life from end-2021. If you are an ElderShield insured in this group, you will have a 60-day free-look period from the commencement of your CareShield Life coverage, for you to consider your decision. If you choose to withdraw, you will be given a full premium refund and automatically be placed back onto your original ElderShield 300/400 scheme.


NOTE : You will not be able to withdraw from the scheme after the applicable opt-out/free-look periods.

CareShield Life will be universal and mandatory for you if you are a Singapore Citizen or Permanent Resident born in 1980 or later. This will ensure that all Singaporeans, including those who are more vulnerable such as the lower-income group and those with pre-existing severe disabilities, have basic protection for long-term care needs.

Overseas?
11. If I reside overseas, can I suspend my premium payment for CareShield Life?

CareShield Life will provide cash payouts in the event of severe disability. Today, overseas Singaporeans are able to file ElderShield claims from abroad and receive payouts to support their care costs wherever they may be. This applies even for those who have permanently relocated abroad. This will continue to apply for CareShield Life. Hence, premium payments for overseas Singaporeans cannot be suspended.

Could u pls ref to this: https://www.careshieldlife.gov.sg/f... can opt out of,CareShield Life from end-2021.





someone did
Answered: You cannot opt out of CareShield Life if you're a Singaporean citizen or Singapore Permanent Resident born in 1980 or later (and remain a Singaporean citizen or Singapore Permanent Resident).