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What does distributing premiums more evenly over our lifetime refer to? Why is there a need to distribute premiums more evenly over our lifetime under MediShield Life?



MediShield Life premiums increase with age. This reflects the higher incidence of hospitalisation among the older age groups, and the higher bills incurred.

Under MediShield Life, premiums are distributed more evenly throughout our life.  Singapore Residents pay more premiums while they are working, so that premiums rise less steeply in old age.  This is important as they would have stopped work by then. 

The additional amounts paid during working age are set aside in a pool in the MediShield Life Fund, which individuals and others in the same generation can tap on to receive premium rebates when they are older. 

Distributing premiums more evenly over our lifetime helps us to pay ahead for premiums.  Planning and saving for our future healthcare expenses will reduce concerns over whether we have enough savings during retirement. 

This information provided here is sourced from the MOH website.

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