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.

Keeping premiums affordable and scheme sustainable

Premiums for CareShield Life coverage are kept affordable in 3 ways.

Fully payable with MediSave

You can use MediSave to pay CareShield Life premiums. Family members can also help pay your CareShield Life premiums from their MediSave, or by topping up your MediSave in cash.

Government subsidies and support

Depending on your financial circumstances, you may be able to tap on government subsidies. You won't lose coverage if you can't pay.

Premiums are pre-funded

CareShield Life premiums are paid during your working years, and risk-pooled across CPF members of the same cohort to cover your current and future claims.

Premiums structure

How premiums work

If you join before age 59

Annual premiums are payable until you turn age 67:

The premium amount increases every year to support payout increases.
After age 67, premiums are no longer payable, but you remain covered for life under CareShield Life.

If you join at age 59 or later

Annual premiums are payable for 10 years:

The premium amount increases every year until age 67, thereafter the premium amounts remain constant. Premiums are subject to adjustment in the event of GST changes.
Although you only pay annual premiums for 10 years, you are covered for life.

Examples:

If you join at age 59, your 10th and last premium year is at age 68. Your last annual premium would be the same amount as that for age 67.

If you join at age 61, your 10th and last premium year is at age 70. The annual premium amount from age 67 to 70 will not increase.

Premium adjustments

Premiums are reviewed regularly.

Premium adjustments are based on recommendations by the CareShield Life Council, in accordance with an actuarially-sound adjustment framework.
The Council takes into account the scheme's claims experience, changes in life expectancy, and disability trends.

Premiums for former ElderShield policyholders and late joiners

Catch-up component

You will need to pay a catch-up component for 10 years, on top of the base premium, if your ElderShield profile is any of the following prior to joining CareShield Life:

You are an existing ElderShield 300 insured.
You are not insured under ElderShield or have opted into ElderShield late.
You are an existing ElderShield 400 insured who joined CareShield Life from 1 January 2022 onwards.
Your ElderShield 300/400 policies have become reduced paid-up.

New Singapore Citizens and Permanent Residents

The catch-up component is applicable to foreigners who become Singapore Citizens or Permanent Residents from 1 Oct 2020 or later, regardless of age.

Checking your CareShield Life premiums

Whether you're already covered by CareShield Life or you're still deciding whether to join CareShield Life, you can look up a personalised CareShield Life premiums when you log in to view your Healthcare dashboard.

View premiums

Premium subsidies

Premium subsidies are available to lower- and middle-income Singapore residents (i.e. citizens and permanent residents) through means testing.

Premium subsidy rates

Monthly per capita household income	$1,500 or lower	$1,501 - $2,600	$2,601 - $3,600
Singapore Citizen	30%	25%	20%
Singapore Permanent Resident	15%	12.5%	10%

Premium subsidies are applicable to Singapore residents who live in residences with an annual value of $21,000 or less.
Subsidy rates are 10% lower for Singapore Citizens who live in residences with an annual value between $21,001 and $31,000.
Premium subsidies are not applicable to Singapore residents who lives in residences with an annual value above $31,000 or own multiple properties.

Participation incentives

Participation Incentives are extended to Singapore Citizens born in 1979 or earlier who joined CareShield Life by 31 December 2024. The amount is spread equally over 10 years to offset the annual premium payable.

Download table (PDF, 1.0MB)

Additional Premium Support

If you can’t afford your CareShield Life premiums even after premium subsidies and family support, you may be eligible for Additional Premium Support. See the Ministry of Health FAQ or call the Healthcare Hotline at 1800-222-3399 for assistance.