How will Government administration of ElderShield benefit ElderShield insureds?
The transfer of administration allows the Government to administer the ElderShield scheme on a not-for-profit basis, and to use any excess of premiums over claims for insureds’ benefit. The Government, as a single administrator, can achieve better consistency in the implementation of underwriting and claims processes across ElderShield insureds.
It also allows ElderShield insureds to upgrade to CareShield Life more smoothly.
This information is sourced from MOH
Related questions
Can I choose to remain with my existing insurer for ElderShield?
Will the Government be more lenient in its underwriting and claims processes compared to the insurers if it administers CareShield Life/ElderShield?
Will my ElderShield premiums change due to Government administration?
How much cheaper are the CareShield Life and ElderShield premiums going to be under Government administration, compared to private sector administration?
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