THE PREDICAMENT OF ELDERLY CARE IN SINGAPORE

Posted by ashishdynamite5 on January 19th, 2019

The cost of elderly care may destroy Singapore financial rates if it is not subject to managing the cost in which they were managed. The natural effect of aging is the increased likelihood of health problems that often require some form of care, such as hospitalization or home care.

 According to the latest Marsh & McLennan Companies report,

Singapore's cost of health care is estimated to increase to over US $ 49 billion a year by 2030.

This is likely to put current and future resources on hold because public spending will undoubtedly take care of the upcoming silver tsunami and their needs in the future. Healthcare.

Impact of Declining population of Singapore

The declining population of Singapore has been noticed as a "ticking time bomb". It was predicted that the gap between the young and aging population problems in Singapore would widen significantly, if Singapore would be at the same level as today's Japan, the oldest society in the world. This affects a society as large as the smaller base of descendants capable of supporting the elderly. While the government has introduced programs such as the Pioneer Generation Package and the latest Merdeka Generation package to compensate for the cost of medical care for the elderly, there are many things that we Singaporeans can do to improve the current situation of older people. Coordinated efforts are needed to improve education through schools and social programs that focus on caring for the elderly.

Conclusion:

Beyond the reach of the community, the private sector can accelerate and play its role. Corporate CSR programs, including donations for regular activities, can complement ongoing public efforts while reducing the need for public funds. Greater efforts are needed to educate companies on how they can make a financial contribution, time and effort to cope with the elderly people.