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To help the elderly in Singapore, the government has in place some schemes and subsidies to ease the financial burden of the silver generation. From MediShield to CHAS, there are many initiatives aimed to make healthcare more affordable for the seniors and retirees in Singapore.
For those who require mobility aids and rehabilitative equipment, there are grants and subsidies available to shoulder the cost of the equipment that can be pricey at times. To apply for these grants, consult your physiotherapist/ occupational therapist, or medical social worker.
In this article, we cover 9 Common Financial Aids in Singapore.
The SMF extends subsidies to elderly persons, (aged 60 and above) who are in need of:
The ATF is a subsidy fund set up by SG Enable to ease the financial burden of persons with disability (PWDs) to purchase assistive technology devices. The extent of coverage is up to 90% of the cost of the equipment, with a lifetime cap of $40,000.
Eligibility for this subsidy is restricted to people with permanent disability of any one of the following:
They must also have undergone qualified assessor’s assessment to determine the need and type of device(s) and their gross monthly household income per person is $1800 and below. The applicant must apply through a therapist or Social Worker to submit the application form.
EASE is an initiative by the Housing Development Board (HDB) that provides subsidies for home modifications to make the house more elder-friendly. Coverage includes:
The extent of coverage is dependent on the type of flat, with smaller flats receiving more subsidies (up to 95%) and vice versa.
The CHAS is a financial aid for lower to middle-income households, and all pioneers. It enables eligible persons to receive subsidies for medical and dental care at participating medical and dental clinics near their home.
Singaporeans who are eligible will receive either a blue, green or orange health assist card. Additionally, CHAS has distributed new cards to seniors of certain age with a Pioneer Generation (PG) and Merdeka Generation (MG) card. Cardholders must present their card to at the clinic to qualify for the subsidised dental or medical rates.
#5. Caregivers Training Grant (CTG)
For caregivers who are at a loss of how to properly care for their elderly parents, they can consider applying for the CTG. The CTG helps caregivers shoulder part of the cost of attending appropriate training to equip caregivers with the relevant skills and knowledge to care for their elderly parents or people with disability.
The CTG is a $200 subsidy per care recipient (65 and older) every financial year (April to March the following year).
A monthly cash payout of $200, the HCG supports care recipients with permanent moderate disability by providing money to pay for their caregiving expenses. The money can be used to cover the costs of eldercare and caregiver support services, including the cost of hiring a foreign domestic worker.
In order to apply for this grant, the care recipient must not be living in a residential long-term care institution such as a nursing home. An assessment report must also be obtained by visiting a general practitioner to assess the level of disability of the care recipient.
For families living with seniors or persons with disabilities and need to hire a helper, this scheme will help with the cost of hiring FDW. Families can pay a lower monthly FDW levy at a concessionary rate of $60 instead of $300. To apply, the care recipient must be a Singapore Citizen. Both the care recipient and the FDW employer must also be living in the same house.
For pioneers with disabilities, they can receive a monthly cash payout of $100. This money can be used for their expenses. For example, they can use it to pay for necessary eldercare services and products for their own care.
This scheme is part of the Pioneer Generation Package to honour pioneers in Singapore. Applying for this scheme requires the pioneer to take a disability assessment to obtain a Functional Assessment Report (FAR). They can do so by visiting a general practitioner or by arranging with their care provider.
#9. Interim Disability Assistance Programme for the Elderly (IDAPE)
This scheme was intended for seniors who were not eligible for ElderShield when it was launched at the time (2002). For seniors with severe disability, this scheme will grant them monthly cash payout for up to 72 months. Depending on their financial income, they can receive $150 or $250 per month. The senior can apply by nominating themselves, their caregiver or the nursing home they are living at.
For more information on the above financial schemes, do contact the relevant organisations directly.
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