All Singapore Citizens and Permanent Residents born in 1979 or earlier who join CareShield Life will pay a base premium that takes into account the premiums existing ElderShield 400 insureds in their cohort have already paid for ElderShield. 

You will need to pay a catch-up component, on top of the base premium, if:

i. You are an existing ElderShield 300 insured.
ii. You are not insured under ElderShield or have opted into ElderShield late.
iii. You are an existing ElderShield 400 insured who joined CareShield Life later (from 1 January 2022 onwards).
iv. Your ElderShield 300/400 policies have become reduced paid-up (i.e. you stopped paying premiums after a minimum number of years of premium payment, which qualifies you for a lower payout amount).

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

The catch-up component is not subsidised to ensure parity in premium subsidies across different groups within those born in 1979 or earlier. 

Nonetheless, for those who are unable to pay for their CareShield Life premiums even after premium subsidies, the Government will provide Additional Premium Support, so that no one who joins CareShield Life loses coverage due to financial difficulties.

This information is sourced from MOH