The aging population in Singapore has long been a source of concern for the government. The dilemma of what to do with our aging parents, grandparents, and other loved ones isn’t going away. Is it a good idea to leave the elderly in the care of a housekeeper? To put them in an elderly care facility (and face our peers’ disapproval)? Is there anything more we can do to better serve the elderly?
The situation is probably even tougher for the elderly parents themselves. They are now too old and frail to live alone, yet their children are too busy with their own lives to take on the responsibility of full-time caregiving. And who can blame them? After all, they were meant to be cared for by their parents when they were young; now that they have grown up and built their own families, it’s only natural that they want to focus on caring for their own children and grandchildren instead. Besides, with the rising costs of living in Singapore, most households simply can not afford to hire full-time housekeepers.
To what extent is Singapore's Aging Population an Issue?
The population of Singapore is rapidly aging. One-fourth of the population will be above the retirement age by 2030. That’s more than a million individuals, or double the present number of senior citizens. Life expectancy is also rising at the same time. This means that they will be living longer and needing assistance for a longer period of time. Thus, it is important to care for them and make sure they have a good quality of life.
In 2020, a new program called CareShield Life was launched to cover the long-term care needs of elderly people. It will provide financial security for people with severe impairments and take care of their basic needs throughout their lifetime. However, what about the care itself? As you get older, you will need different levels of medical care, depending on your specific needs.
Elderly DayCare - For Elders in Good Health
There are existing special daycare centers for the senior citizens who are healthy and mobile, but who want to socialize and participate in activities that keep them active and energetic.
Where to go:
- AWWA Senior Activity Centre
- Bo Tien Day Activity Centre for the Elderly
- ECON Healthcare Group
- Goldencare Senior Day Care Centre
- Hovi Care Senior Activity Centre
- NTUC Health (Silver Circle senior care centres)
- Orange Valley
- Senior Activity Centres (SACs) by AIC
Source: MoneySmart
Health Centers for the elderly who require just basic medical attention
Seniors are increasingly dealing with health and disability issues. People who don’t need round-the-clock care but require short-term care for therapy or rehabilitation can take advantage of these facilities for a few hours or a few days to receive medical attention.
Where to go:
- AWWA Rehab and Day Care Centre
- Hua Mei Elder Person-centred Integrated Comprehensive Care (EPICC)
- Goldencare Senior Day Care Centre
- St Luke’s Eldercare
- Metta Day Rehabilitation Centre for the Elderly
- United Medicare Centre
Center-based care for the elderly is subsidized by the government. These facilities include day treatment centers, dementia day care centers, psychiatric day care centers, and residential rehabilitation facilities.
Source: MoneySmart
Hiring a live-in caregiver for home care and companionship
If your elderly parent is quite healthy and enjoys his privacy, a live-in caregiver can be a good alternative. Some workers are either medically qualified or have previous experience caring for elderly clients.
Additionally, you may take advantage of these two government aid programs: Foreign Domestic Worker (FDW) Grant and Foreign Domestic Worker (FDW) Levy Concession to pay a monthly FDW levy of just $60 instead of $300. These simply cap your monthly spending at a sensible range.
Furthermore, you may also apply for a $200 Caregivers Training Grant each year to cover the cost of training courses on health and safety issues of your live-in caregivers as they relate to caregiving. Classes can be held in your home, if you prefer.
On the other hand, if your elderly parents are more independent who don’t require round-the-clock care or monitoring, you may consider hiring a part-time caregiver instead.
Where to go:
- Caregiver Asia
- Comfort Keepers
- Familiz
- Homage
- NTUC Health
- SilverAlly
Cost: The average monthly cost of a live-in assistant is between $600 and $850 before any grants or subsidies. A part-time caretaker pays $20 to $25/hour.
Source: MoneySmart
Live-in nurse – for elders who require continual medical care
If your elderly relative requires more care, you may want to consider hiring a nurse, assistant, or skilled caregiver instead of (or in addition to) a normal caretaker. Skilled caregivers are usually trained nurses who are able to provide more medical care, and will also be more skilled than a normal caretaker in helping with things like medication and other medical equipment.
This can be a good option for many families. It costs more than having a family member or friend act as a caregiver, but it can save the expense and stress of moving an elderly relative into a nursing home without enough security.
But be sure to consider how much care your relative needs before making this decision. If they require constant medical attention, then hiring a professional caregiver might be the best choice.
Where to go:
- Active Global Specialised Caregivers
- Anglo Nurses
- Nicole Consultancy
- Sue Private Nurses Agency
- Xedge Resources
Cost: $600 to $1,000/month before subsidies
Source: MoneySmart
Nursing Homes
Nursing homes provide long-term residential care for individuals who do not have caregivers at home to care for them 24/7. This can include seniors who are no longer physically or mentally able to live in their homes without assistance and those who need help with daily activities like dressing, bathing, and preparing meals.
Nursing homes may also be called convalescent homes, skilled nursing facilities, elderly care facilities, rest homes, and senior living facilities.
Nursing home care is usually short-term for those who need rehabilitation or therapy after an illness or surgery. Long-term care is provided for those who cannot live independently, but don’t require hospitalization.
There are several types of nursing homes to choose from depending on your needs. Some nursing homes only provide basic care services while others offer more specialized memory care services for patients with Alzheimer’s disease or dementia. In most states, a nursing home is required to post inspection reports so you can see quality ratings before making a decision about where to place a loved one.
Cost: $1,200 to $4,500/month before subsidies, depending on the type of bedroom or level of care required.
Source: MoneySmart
What You Should Know About Elder Care Financing
Healthcare in Singapore can be costly, but we may take advantage of numerous grants and subsidies to help with our finances such as:
- CareShield Life
- ElderShield
- Pioneer Generation Package
- Intermediate and Long-Term Care Subsidies
- Seniors’ Mobility and Enabling Fund
Another very helpful way to afford the elderly care costs is through upgrading your CareShield Life. You may do so through three insurance companies offering CareShield supplements: NTUC Income, AVIVA, and Great Eastern Life.
Although aging poses difficulties, these challenges can be overcome with the right support. However, there may be high costs associated with receiving such assistance, and they may add up quickly. But always keep in mind that sacrificing for the opportunity to give our loved ones the best care possible is the best way to express our love and care.