Projections based on current plan
- All projections in the Health Insurance Planner are expressed in current dollars.
- Projected MediSave savings are based on the following calculations and assumptions:
- The amount in your MediSave Account is capped at the Basic Healthcare Sum (BHS). The BHS is adjusted annually to keep pace with the expected growth in MediSave use and becomes fixed when you reach age 65.
- You remain employed with one employer until the minimum retirement age.
- MediSave Account contributions are based on the salary details you provided which will be stored for future projections and remain unchanged until you edit them through the Health Insurance Planner.
- Your annual salary increment is set by you and remains constant. It is applied every January on both your monthly and additional salary over the projection period.
- MediSave Account contributions on monthly salary are based on the prevailing MediSave contribution rates, capped at the prevailing Monthly Salary Ceiling.
- MediSave Account contributions on additional salary (e.g. bonus) are paid annually in January and capped at the prevailing Additional Wage Ceiling.
- If you belong to the Pioneer Generation, your latest Pioneer Generation annual MediSave Account top-up amount is used for projection.
- MediSave savings earn the prevailing interest rate floor per annum. Interest is calculated monthly but credited and compounded annually at the end of December.
- Cumulative MediSave savings is the sum of your current MediSave Account balance and all MediSave Account inflows for up to 30 years or age 90, whichever is earlier.
- The projected expenses paid with MediSave savings are based on the following calculations and assumptions:
- Expenses paid with MediSave savings is the sum of all MediSave expenses for up to 30 years or age 90, whichever is earlier.
- Projections assume that you are the payer for your medical and long-term care insurance premiums. For MediSave-payable premiums, projections assume that these premiums are first paid with MediSave savings, and any balance remaining and above the prevailing Additional Withdrawal Limit (AWL) for Integrated Shield Plans (IPs) and prevailing annual MediSave withdrawal limit for Supplement Plans are paid out-of-pocket in cash.
- MediShield Life, Integrated Shield Plan (IP), and rider premiums are based on the prevailing age-based premium tables, which are subject to changes. Projections do not take into account premium loading or discounts or claims-based pricing for Integrated Shield Plan (IP) and rider.
- The private medical insurance component of the Integrated Shield Plan (IP) and rider premiums are subject to the annual inflation rate set by you for medical insurance premiums and the prevailing Additional Withdrawal Limits (AWLs).
- The private medical insurance component of your dependants’ Integrated Shield Plan (IP) premiums are based on the net deduction from your MediSave Account for the latest policy year, subject to the annual inflation rate set by you for medical insurance premiums and the prevailing Additional Withdrawal Limits (AWLs).
- CareShield Life, ElderShield, and Supplement Plan premiums are based on multiple factors such as entry age and past ElderShield coverage, which are subject to changes.
- CareShield Life and ElderShield premiums are included if you are covered under CareShield Life or ElderShield. If you are born in or after 1980, CareShield Life is mandatory from when you are 30 years old and above.
- If you are covered under ElderShield and have successfully applied for CareShield Life, projections only include CareShield Life premiums.
- If you are an active claimant for ElderShield, CareShield Life, or Supplement Plan, the premiums of these schemes are excluded as you no longer pay the premiums for as long as you remain in severe disability.
- CareShield Life premiums will increase by 2% annually from 2020 to 2025. Subsequent CareShield Life premiums are subject to review by the CareShield Life Council. For projection purposes, CareShield Life premiums are subject to the annual inflation set by you for long-term care insurance premiums. CareShield Life premiums are payable annually until age 67 or a minimum of 10 years (whichever later). Supplement Plan premiums are based on the sum of withdrawals for Supplement Plan premiums from your MediSave Account in the previous year and the remaining premium terms set by you in the Health Insurance Planner. It is also subject to the annual inflation rate set by you for long-term care premiums and the prevailing annual MediSave withdrawal limit.
- If you are receiving Additional Premium Support (APS), your MediShield Life and CareShield Life premiums will become payable after your current Additional Premium Support (APS) validity period ends or when you purchase an Integrated Shield Plan (IP) and/or Supplement Plan, whichever is earlier.
- If you are receiving premium subsidies (i.e. means-tested premium subsidy, Pioneer Generation subsidy, or Merdeka Generation subsidy), projections are based on the subsidy you currently receive. The subsidy may change with age, annual value of property, income and citizenship status.
- Your projected MediSave expenses may be higher if you use your MediSave savings to pay for your dependants’ medical expenses
Projections based on selected plans
- All projections in the Health Insurance Planner are expressed in current dollars.
- Cumulative Medical Insurance Premiums are based on the following calculations and assumptions:
- Cumulative Medical Insurance Premiums is the sum of premiums for up to 30 years or age 90, whichever is earlier.
- Projections assume that you are the payer for your medical insurance plans. For MediSave-payable premiums, projections assume that these premiums are first paid with MediSave savings, and any balance remaining and above the prevailing Additional Withdrawal Limit (AWL) for Integrated Shield Plans (IPs) are paid out-of-pocket in cash.
- MediShield Life, Integrated Shield Plan (IP), and rider premiums are based on the prevailing age-based premium tables, which are subject to changes. Projections do not take into account premium loading or discounts or claims-based pricing for your Integrated Shield Plan (IP) and rider.
- The private medical insurance component of the Integrated Shield Plan (IP) and rider premiums are subject to the annual inflation rate set by you for medical insurance premiums and the prevailing Additional Withdrawal Limits (AWLs).
- Projections assume the most expensive rider corresponding to each selected Integrated Shield Plan (IP).
- Projections only account for co-payment riders. If you have additional riders (e.g. deductible cover, additional cancer coverage, daily cash, global rider) on top of co-payment riders, you may have to pay more premiums than projected.
- If you are receiving Additional Premium Support (APS), your MediShield Life and CareShield Life premiums will become payable after your current Additional Premium Support (APS) validity period ends or when you purchase an Integrated Shield Plan (IP) and/or Supplement Plan, whichever is earlier.
- If you are receiving premium subsidies (i.e. means-tested premium subsidy, Pioneer Generation subsidy, or Merdeka Generation subsidy), projections are based on the subsidy you currently receive. The subsidy percentage may change with age, annual value of property, income and citizenship status.