The Ministry of Health just announced last Sunday that there will be another compulsory healthcare scheme which all Singaporeans and PR from the age of 30 to 40 will be automatically enrolled in starting from 2020. In future, everyone who reach 30 years old will be compulsory enrolled in this scheme as well.

Currently, all Singaporeans and PR are also insured under the Medishield life scheme which covers for some basic hospitalisation bills. This is also a compulsory scheme.

What is Careshield life all about?

Careshield life is renamed from Eldershield and is an enhanced version of it. Careshield life will provide monthly income for those who become severely disabled and cannot perform 3 out of the 6 daily living activities.

It will be compulsory for those age 30 to 40 in year 2020 and also future cohorts of those who turn 30 years old. This means that it is …