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MediShield Life Premiums and Subsidies

24 Aug 2018

MediShield Life Premiums and Subsidies

• Types of Premium Subsidies
    • Transitional Subsidies
    • Premium Subsidies for the lower- to middle-income 
    • Pioneer Generation Subsidies and MediSave top-ups
    • Additional Premium Support
• How to Receive MediShield Life Premiums Subsidies
• Renewal of Your Policy

MediShield Life Premiums and Subsidies

MediShield Life premiums are risk-pooled to support the payouts and benefits under MediShield Life. 
The Government provides significant support to keep premiums affordable for Singapore Citizens and Permanent Residents, including for those who need to pay Additional Premiums. 
You can pay your MediShield Life premiums from your MediSave. You can calculate your estimated MediShield Life premiums payable after the applicable premiums and subsidies using this premium calculator.
The following subsidies are available to help those requiring more support.

Types of Premium Subsidies

Transitional Subsidies

  • Available for the first 4 years of MediShield Life, for all Singapore Citizens who face an increase in their net premiums for MediShield Life (i.e. after taking into account various subsidies the policyholder is eligible for) regardless of their household income or the Annual Value of their home.

  • In the first year, the Government will pay 90% of the net increase in MediShield Life premiums above MediShield premiums. This means that you only need to pay 10% of the net increase in your MediShield Life premium in the first year.

  • The Government will cover 70%, 40% and 20% of the net premium increase in the second, third and fourth years of MediShield Life.


Premium Subsidies for the lower- to middle-income

  • A permanent feature, available to lower- to middle-income families with household monthly income per person of $2,600 and below, and living in residences with an Annual Value of $21,000 and below. (Up to two-thirds of Singapore Resident households may qualify.)

  • Those eligible can receive subsidies of up to 50% of their premiums. Permanent Residents will receive half the subsidy rate applicable to citizens. 

table_medshield

*For those living in residences with AV of $13,000 or less.
Those with an Annual Value between $13,001 to $21,000 will receive 10 percentage points less than these subsidy rates.
Those living in residences with an Annual Value of above $21,000 will not receive these subsidies.
  • If you own more than one property, you do not qualify for this subsidy.


Pioneer Generation Subsidies and MediSave top-ups   

  • Pioneers will receive generous Pioneer Generation Subsidies of between 40-60% depending on age. This is regardless of their household monthly income or the Annual Value of their home.

  • Pioneers will also receive $200 - $800 a year in MediSave top-ups (depending on year of birth) for life, which can be used to pay for their MediShield Life premiums.

  • Click here for more info on Pioneer Generation Subsidies and MediSave top-ups.

Additional Premium Support

No one should worry about losing their MediShield Life coverage because they are unable to afford the premiums. This subsidy is for families who need assistance with premiums even after the above subsidies and MediSave use.


How to Receive MediShield Life Premium Subsidies

Subsidies are automatically applied

The Government makes it easy for Singapore Citizens and Permanent Residents to receive Premium Subsidies.

Pioneer Generation Subsidies and Transitional Subsidies for Singaporeans will be extended automatically.

As subsidies are automatically applied based on the information we have about you and your household, be sure you regularly update your household information in the Household Check e-Service so that you will automatically receive MediShield Life Premium Subsidies to help with your MediShield Life premiums, if you are eligible.

Your subsidy is calculated as follows:
medishield premium and subs

Renewal of Your Policy

Information on your MediShield Life premium and applicable subsidies will be sent in writing to the payer of your premium about one month before your policy renewal date by the Central Provident Fund (CPF) Board or your Integrated Shield Plan (IP) insurer (if you are insured under an IP).