In view of the current demographic change in the aging population and its impact on changing the health system towards community care, this review focuses on monitoring technology for elderly patients. In particular, the focus is on wearable monitoring technology and its integration into telehealth systems. In review of the available commercial wearable monitoring technologies, their form factor, sensing methods and application for the purpose of monitoring elderly patients for ongoing care are discussed. At the same time, advances in research regarding how to overcome the limitations of commercial wearable monitoring devices are reviewed. Issues of usability, functionality, human interaction and social factors, and ethical considerations in the application of wearable monitoring and telehealth technologies for elderly patients are outlined. Some of the initiatives taken to address these issues are also discussed and some suggestions are made. Finally, the review looks at the anticipated benefits of the application of wearable monitoring and telehealth technologies from an elderly patient, clinician or carer and healthcare system point of view. Expert opinion of what strategies need to be used to enhance the use and uptake of these technologies and what future directions are anticipated are expressed. In conclusion, available wearable monitoring technologies and its integration into teleheath systems are currently limited for application on elderly patients. There are many issues of standardization, design and ethical considerations that need to be addressed before advances can be made with these technologies so that these patients can be remotely monitored and provided with a better quality of care.