5. Does your Basic ElderShield provides adequate coverage for your Long-Term Care Needs?
Now, imagine if today you are the sole breadwinner of your family and had lost your income source due to not able to work as a result of being severely disabled, would a monthly payout of S$300 or S$400 be sufficient for your out-of-pocket long-term care expenses, and not forgetting your ongoing household expenses and financial liabilities e.g. loans?
Aviva’s Long-Term Care Study 2011 showed that claimants on average required about S$2,150 per month to pay for domestic helper or nursing home, transportation to and from the hospital for treatments or physiotherapy, mobility aids, as well as daily expenses and bills. Apart from being costly, long-term care can also be for a prolonged period of time. A Department of Statistic Singapore paper published in 2011 showed that, in Singapore, more than a third of caregivers (37%) had been providing care to their recipients for over a decade.
Let’s look at the respective cost in the various aspects.
a. Community Hospital
You may be discharged from the hospital but that doesn’t mean you have fully recovered. You will need additional inpatient care such as therapy and rehabilitation, nursing care and the need of caregiver to provide help with daily living. The estimated cost is around $8,000 – $9,000 a month. There are government subsidies between $1,800 to $7,000 a month which you can apply for.
b. Nursing Home
These are for patients who cannot take care of themselves in their own home and need significant assistance in daily assistance. It costs around $1,200 – $3,500 a month. You can tap into government subsidies and Medifund for selected homes only.
c. Respite Care
Those that require temporary help can apply for respite care costing around $100-$150 a day.
d. Inpatient Hospice Care
Patients who suffered from advanced and progressive diseases, and require highly-skills, multidisciplinary medical and nursing care to relieve symptoms at the end-of-life (e.g. pain, breathlessness, nausea and vomiting etc)
It costs around $7,000 a month payable via Medisave (selected hospices only).
e. Care Services in Day Centres:
> Day Rehabilitation Centre
For patients who undergoing therapy to regain ability to perform daily activities. Estimated cost: $700-$1,000
> Dementia Day Care Centre
Estimated cost: $700-$850
> Hospice Day Care Centre
For patients with cancer and life-limiting disease. Estimated cost $700-$850
f. Care Services at Home:
> Home Medical Service
For patients with mobility issues, home medical service is an option and cost around $130-$200 per visit
> Home Nursing
For housebound or bedridden patients who require nursing care. Estimated cost: From $80 per visit
> Home Therapy
For housebound or bedridden patients who are unable to visit a day rehabilitation centre. Estimated cost: $100-$150 per visit
> Home Help
For housebound patients who live alone and require assistance with daily living. Estimated cost around $100-$150 per visit
> Hospice Medical / Nursing Home Care
For patients with cancer and life-limiting illnesses. Estimated cost: $150-$220 per visit