As the Government will be operating CareShield Life on a not-for-profit basis, CareShield Life premiums will be based on actuarial principles with no profit margins priced in.

For ElderShield, the Government will maintain the current ElderShield premiums and run the scheme on a not-for-profit basis. There will be no change to benefits due under ElderShield. Any excess of premiums over claims will be used for insureds’ benefit. In the event that the actual claims experience turns out better than expected, there will continue to be premium rebates for all insureds.

This information is sourced from MOH.