CPFB | Manage my healthcare costs

Manage my healthcare costs

Gaining a clear understanding of health insurance options can provide you with peace of mind. Plan for your healthcare needs to ensure you and your loved ones are well-cared for.

Evaluate your healthcare coverage to stay prepared for the unexpected

Stay prepared for unexpected changes

Build an emergency fund that can cover your expenses for at least three to six months should you lose your income.

It is also helpful to make sure your MediSave has enough to cover healthcare costs, including MediShield Life and CareShield Life premiums, for both you and your loved ones.

Consider the long-term affordability

MediShield Life protects you against large medical bills, regardless of age or health, and is generally sufficient for subsidised treatment in public hospitals.

If you're considering Integrated Shield Plans (IPs) or riders for private insurance coverage, weigh the cash expenses and long-term affordability.

Review your health insurance coverage whenever your circumstances change

As a rule of thumb:

Allocate no more than 15% of your take-home pay to insurance
Death and Total Permanent Disability (TPD): Aim for coverage of 9x your annual income
Critical Illnesses (CI): Look for a plan that covers 4x your annual income

Start planning for your future today

Retirement Payout Planner

With your health insurance coverage in place, you can confidently plan for your retirement with peace of mind. Use the Retirement Payout Planner to set your goals and see if your CPF savings will be enough to meet your desired retirement income.

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Make a cash top-up

Start building your retirement fund today. The sooner you top up, the faster your savings can grow, giving you higher payouts to support the future you want.

Top up now

Syahid's caregiving journey

Catch CPF member Syahid as he shares his personal caregiving journey with Eugene from the Healthcare Insurance Department, CPF Board. Learn how the different national health insurance and savings schemes provide peace of mind for you and those you care about.

Understanding key health insurance terms

Guide to your health insurance coverage

How much health insurance coverage is enough? How do we determine what is too much or too little?

Stay well-informed about national insurance schemes like MediShield Life and optional plans like IPs to understand how you can protect yourself against hefty medical bills.

Find out more

Here's how others are staying prepared for the unexpected

"When my daughter was admitted to the hospital, I used my MediSave to pay for the initial bill, while the remaining amount was covered by the insurance. I did not need to pay from my pocket, which would have affected my financial planning for that and the consequent months. Since there was no financial stress, I was able to focus my full attention on taking care of my daughter in the hospital. CPF has saved me from financial stresses and emergencies."

- Devikala Somasundaram, 42, Senior Assistant Manager

"Having a safety net such as the national healthcare insurances eases my financial anxiety, especially with healthcare costs expected to rise as I age. It provides peace of mind, knowing I’m prepared even if I do not have a steady income in the future."

- Chia Nyook Kheun, 60, Part-time Retail Assistant

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