CATASTROPHIC ILLNESS INSURANCE SCHEME (Report)

Dr S. Vasoo asked the Acting Minister for Health if he will report on the status of the catastrophic insurance scheme and whether this scheme will be combined with other insurance schemes administered by the CPF.

The Acting Minister for Health (Mr Yeo Cheow Tong): Mr Speaker, Sir, the Government has approved the concept and framework of the Catastrophic Illness Insurance Scheme. The implementation details are now being worked out by my Ministry and the Central Provident Fund Board and these will be announced at the end of the year. The Scheme is expected to be implemented by April next year.

This will provide adequate time for my Ministry and the CPF Board to explain the Scheme to the general public through the mass media and public seminars. It will also provide time for Medisave Account holders to either opt out or to register their dependants into the Scheme.

The insurance premium will be low, ranging from $1 to $8 per month depending on the age group. Medisave can be used to pay for the premium.

The Scheme will be underwritten and administered by the CPF Board and will be run at cost. It will be independent of other CPF insurance schemes.