CPFB | CareShield Life premiums and subsidies

Healthcare financing

CareShield Life premiums and subsidies

MediSave fully covers CareShield Life premiums. Subsidies and support are available to make sure they remain affordable, so there’s no need to worry about losing coverage if you’re unable to pay.

Born 1980 or after

If you were born in or after 1980, this section covers CareShield Life premiums and available subsidies for you.

How CareShield Life premiums work

CareShield Life premiums are pre-funded, with premiums paid during your working years, and risk-pooled within your generation to cover your generation’s current and future claims.

Covered for life

As such, premiums are paid from the age you join until age 67, but you remain covered for life. Premiums are waived once you make a successful claim.

Higher payouts supported by premium adjustments

From 2020 to 2025, both premiums and payouts will increase by 2% per annum. Beyond that, adjustments to premiums and payouts will be recommended by an independent CareShield Life Council, in accordance with an actuarially-sound adjustment framework.

Fully payable with MediSave

You can use your MediSave Account to pay your CareShield Life premiums. Family members can help you by paying from their own MediSave or topping up your account with cash.

Available help to pay for premiums

You may be able to benefit from different Government subsidies and support to help keep your premiums affordable.

Means-tested Premium Subsidies for Singapore Citizens from low- to middle-income households

You may be eligible for the Means-tested Premium Subsidies, depending on your financial circumstances.

Monthly per capital household income (PCHI)

	PCHI $1,500 or less	PCHI $1,501 - $2,600	PCHI $2,601 - $3,600
Subsidy rates for Singapore Citizens¹	30%	25%	20%
¹ Subsidy rates are applicable to Singapore Citizens who live in residences with an Annual Value (AV) of $21,000 or less. Those who live in residences with an AV between $21,001 and $31,000 will receive 10 percentage points less than these subsidy rates. Those who live in residences with an AV above $31,000 or own multiple properties will not receive these subsidies. Permanent Residents receive half of the subsidy rates applicable to Singapore Citizens.

Additional Premium Support

If you can’t afford your CareShield Life premiums after premium subsidies and family support, you may be eligible for APS.

Calculate your premium and subsidies

Check your personalised premiums by logging in using Singpass.

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Born 1979 or before

If you were born in or before 1979, this section covers CareShield Life premiums and available subsidies for you.

How CareShield Life premiums work

CareShield Life premiums are pre-funded, with premiums paid during your working years, and risk-pooled within your generation to cover your generation’s current and future claims.

Covered for life

Premiums are paid from the age you join until age 67, but you remain covered for life. Premiums are waived once you make a successful claim.

Extended payment duration even for late joiners

Those who join CareShield life at age 59 or older will pay premiums over 10 years. This helps to lower their annual premium payable so that it’s more affordable and manageable.

Fully payable with MediSave

You can use your MediSave Account to pay your CareShield Life premiums. Family members can help you by paying from their own MediSave or topping up your account with cash.

Breakdown of premiums

As a member of this cohort, your premium may have two components.

1. Base premium

What is the base premium

Base premiums are paid from the age you join until age 67 (inclusive of the year you turn 67), or for a period of 10 years for those who join CareShield Life at age 59 or older.

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Higher payouts supported by adjustments in base premiums

Base premiums will increase over time, together with the increase in potential payouts, until the insured reaches age 67*. From 2020 to 2025, the increase is 2% per year. Beyond that, premium and payout adjustments will be recommended by an independent CareShield Life Council, in accordance with an actuarially-sound adjustment framework. The Council will take into account the scheme's claims experience, changes in life expectancy, and disability trends.

*Base premiums will be flat after age 67 if they remain payable (e.g. for those who join at age 59 or older).

Note for ElderShield 400 policyholders

ElderShield 400 policyholders who’ve been consistently on an ElderShield policy (i.e. never opted out, or upgraded from ElderShield 300 to ElderShield 400 in 2007 when they had the chance to) will only pay the base premium each year, if they join CareShield Life.

2. Catch-up component

What is the catch-up component

The catch-up component is a flat amount paid over 10 years and is paid on top of the base premium.

Who needs to pay the catch-up component

Groups such as existing ElderShield 300 policyholders, those not insured under ElderShield, and those who opted into ElderShield late, will need to pay this additional catch-up component, as they would not have paid as much premiums as those in the same cohort who had been consistently insured under the ElderShield 400 scheme.

New Singapore Citizens and Permanent Residents

The catch-up component will also be applicable to foreigners who become Singapore Citizens or Permanent Residents from 1^st October 2020 onwards.

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Available help to pay for premiums

You may be able to benefit from different Government subsidies and support to help keep your premiums affordable.

Means-tested Premium Subsidies for Singapore Citizens from low- to middle-income households

You may be eligible for the Means-tested Premium Subsidies, depending on your financial circumstances.

Monthly per capita household income (PCHI)

	PCHI $1,500 or less	PCHI $1,501 - $2,600	PCHI $2,601 - $3,600
Subsidy rates for Singapore Citizens¹	30%	25%	20%
¹Subsidy rates are applicable to Singapore Citizens who live in residences with an Annual Value (AV) of $21,000 or less. Those who live in residences with an AV between $21,001 and $31,000 will receive 10 percentage points less than these subsidy rates. Those who live in residences with an AV above $31,000 or own multiple properties will not receive these subsidies. Permanent Residents receive half of the subsidy rates applicable to Singapore Citizens.

Participation Incentives if you had joined by 31 December 2024

Total Participation Incentives will be spread equally over 10 years and will be used to offset the annual premium payable in that year.

Participation Incentives for Singapore Citizens who joined and were covered under CareShield Life by 31 December 2024:

Birth year	Annual Participation Incentive	Total Additional Participation Incentives for Merdeka Generation (MG) & Pioneer Generation (PG) seniors	Total Participation Incentives over 10 years
1975 – 1979	$37.50	N.A.	$375
1970 - 1974	$75.00		$750
1965 - 1969	$112.50		$1,125
1960 - 1964	$150.00		$1,500
Before 1960	$187.50	$1,125	$1,875 for non-MG and non-PG seniors $3,000 for MG and PG seniors

Participation Incentives for Singapore Citizens who joined and were covered under CareShield Life by 31 December 2023:

Birth year	Annual Participation Incentive	Total Additional Participation Incentives for Merdeka Generation (MG) & Pioneer Generation (PG) seniors	Total Participation Incentives over 10 years
1975 – 1979	$50	N.A.	$500
1970 - 1974	$100		$1,000
1965 - 1969	$150		$1,500
1960 - 1964	$200		$2,000
Before 1960	$250	$1,500	$2,500 for non-MG and non-PG seniors $4,000 for MG and PG seniors

Additional Premium Support

If you can’t afford your CareShield Life premiums after premium subsidies and family support, you may be eligible for Additional Premium Support.

Calculate your premium and subsidies

Find out about your CareShield Life premiums and applicable subsidies.

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1. Base premium

2. Catch-up component