“Health is wealth” – so the saying goes, and as such, it makes sense that you’d want to protect your health as a key component of your assets. That’s where health insurance comes in, to ensure you have sufficient resources to get the treatment you need should you fall ill.
But how much health insurance do you need, and how much can you expect to pay as a result over your lifetime? We delve into the costs behind a robust healthcare plan.
Necessities of medical insurance
Comprehensive medical insurance comprises four parts, of which health insurance is one component. The illustration below gives an overall framework for what medical insurance should deliver for you.

In sum, comprehensive medical insurance should be able to cover hospitalisation bills and medical treatments, and replace your income should you not be able to work due to critical illness or disability.
Health insurance is a key aspect that covers your hospitalisation bills, surgeries and treatments, and certain outpatient treatments.
All Singapore Citizens and Permanent Residents (PRs) are automatically enrolled into the compulsory health insurance plan MediShield Life upon birth or receiving their PR status. This health insurance plan is administered by the Central Provident Fund (CPF) Board. This helps to cover large bills in subsidised B2/C wards in public hospitals, and selected outpatient treatments such as kidney dialysis and chemotherapy for cancer.
What is the annual cost of health insurance?
Should you be diagnosed with a serious ailment, you’ll want to be able to pay your hospital and treatment bills. In order to ensure this, there are three layers of financial protection you can consider, with the costs increasing as you age.

Apart from your age, the premiums payable using CPF MediSave and/or cash will also vary depending on the plan types you choose.
There is a limit on how much you can withdraw from your CPF MediSave to cover the premiums for enhanced coverage through the Integrated Shield Plan. The limits are set out in the table below.
Age group | Additional Withdrawal Limit (annually) per life insured |
40 and below | S$300 |
41 to 70 | S$600 |
71 and above | S$900 |
If the premium for the Integrated Shield Plan exceeds the additional withdrawal limit, you’ll need to pay the excess using cash.
Read more: Should You Max Out Your Basic Healthcare Sum in Your CPF MediSave Account
How much will you pay in premiums over your lifetime?

The following illustrations will give you an understanding of how much the premiums for benefits under the Integrated Shield Plan – which allow you access to private or public hospitals – will cost you as you hit various age milestones.
This is based on the current premium rates across different insurers who are providing such health insurance plans. Take note that for these rates:
- Premiums under the main plan are inclusive of the MediShield Life premiums
- Premiums under the main plan will be payable using CPF MediSave unless the premium for the enhanced coverage exceeds the additional withdrawal limits
Based on age next birthday: 25
NTUC Income | Prudential | AXA | ||||||
Enhanced IncomeShield | Cash Outlay | Rider: Deluxe Care | PRUShield Premier | Cash Outlay | Rider: PRUExtra Premier CoPay | Shield Plan A | Cash Outlay | Rider: Enhanced Care |
S$438 | S$0 | S$500 | S$459 | S$0 | S$606 | S$435 | S$0 | S$314 |
Great Eastern | Singlife with Aviva | Raffles | ||||||
SupremeHealth P PLUS | Cash Outlay | Rider: TotalCare Elite | MyShield Plan 1 | Cash Outlay | Rider: MyHealthPlus Option C-II | Shield Private | Cash Outlay | Key Rider |
S$454 | S$0 | S$601 | S$482 | S$0 | S$669 | S$468 | S$0 | S$286 |
AIA | ||
HealthShield Gold Max A | Cash Outlay | Rider: AIA Max VitalHealth A* |
S$479 | S$0 | S$540 |
*Without Emergency and Outpatient Care Booster option |
Based on age next birthday: 35
Income | Prudential | AXA | ||||||
Enhanced IncomeShield Preferred | Cash Outlay | Rider: Deluxe Care | PRUShield Premier | Cash Outlay | Rider: PRUExtra Premier CoPay | Shield Plan A | Cash Outlay | Rider: Enhanced Care |
S$676 | S$0 | S$632 | S$690 | S$27 | S$717 | S$682 | S$0 | S$374 |
Great Eastern | Singlife with Aviva | Raffles | ||||||
SupremeHealth P PLUS | Cash Outlay | Rider: TotalCare Elite | MyShield Plan 1 | Cash Outlay | Rider: MyHealthPlus Option C-II | Shield Private | Cash Outlay | Key Rider |
S$690 | S$22 | S$712 | S$690 | S$109 | S$765 | S$690 | S$39 | S$297 |
AIA | ||
HealthShield Gold Max A | Cash Outlay | Rider: AIA Max VitalHealth A* |
S$690 | S$60 | S$598 |
*Without Emergency and Outpatient Care Booster option |
Based on age next birthday: 45
Income | Prudential | AXA | ||||||
Enhanced IncomeShield Preferred | Cash Outlay | Rider: Deluxe Care | PRUShield Premier | Cash Outlay | Rider: PRUExtra Premier CoPay | Shield Plan A | Cash Outlay | Rider: Enhanced Care |
S$1,125 | S$39 | S$819 | S$1,125 | S$54 | S$1,153 | S$1,125 | S$0 | S$386 |
Great Eastern | Singlife with Aviva | Raffles | ||||||
SupremeHealth P PLUS | Cash Outlay | Rider: TotalCare Elite | MyShield Plan 1 | Cash Outlay | Rider: MyHealthPlus Option C-II | Shield Private | Cash Outlay | Key Rider |
S$1,125 | S$49 | S$1,148 | S$1,125 | S$114 | S$919 | S$1,062 | S$0 | S$307 |
AIA | ||
HealthShield Gold Max A | Cash Outlay | Rider: AIA Max VitalHealth A* |
S$1,125 | S$305 | S$740 |
*Without Emergency and Outpatient Care Booster option |
Pro tip: Comprehensively compare the available Integrated Shield Plans using this breakdown
If we assume that there is no increase in premiums, and use the current rates to calculate the costs for someone who is turning 25 and expected to live until 85, how much in premiums can he or she expect to pay? The plan type will determine the total amount:
- ‘Private or public hospitals’ plan type
Depending on the insurer, he or she will likely have to pay at least S$87,000 from CPF MediSave and between S$120,000 to almost S$280,000 in cash over his/her lifetime.
- ‘Up to ‘A’ ward in public hospitals’ plan type
Depending on the insurer, he or she will likely have to pay at least S$75,000 from CPF MediSave and between S$37,000 to almost S$90,000 in cash.
Costs of common surgeries in private and public hospitals
Health insurance can help cover or lessen the costs of treatments that would otherwise add up to a hefty sum. We’ve listed examples of estimated bill sizes for common surgeries below. These costs are based on the 50th percentile actual transacted fees across the medical institutions based on information from the Ministry of Health.
Heart (expansion of blocked heart vessels)
Hospital/Ward Type | Total Estimated Cost |
‘A’ Ward in Public Hospital | S$30,000 to S$50,000 |
Private Hospital | S$80,000 to S$110,000 |
Breast (removal of the entire breast, removal of cancerous growth with lymph node testing and/or removal)
Hospital/Ward Type | Total Estimated Cost |
‘A’ Ward in Public Hospital | S$20,000 |
Private Hospital | S$34,000 to S$65,000 |
Female reproductive tract (removal of fibroids and muscle from the uterus – keyhole surgery / complicated / >5cm)
Hospital/Ward Type | Total Estimated Cost |
‘A’ Ward in Public Hospital | S$26,000 |
Private Hospital | S$58,000 |
Knee (joint replacement – simple / one side)
Hospital/Ward Type | Total Estimated Cost |
‘A’ Ward in Public Hospital | S$46,000 |
Private Hospital | S$90,000 |
Eyes (cataract surgery, removal of lens implant – one side)
Hospital/Ward Type | Total Estimated Cost |
‘A’ Ward in Public Hospital | S$11,000 |
Private Hospital | S$25,000 |
Male reproductive tract (removal of prostate gland – <30g)
Hospital/Ward Type | Total Estimated Cost |
‘A’ Ward in Public Hospital | S$18,000 |
Private Hospital | S$42,000 |
For an idea of the out-of-pocket costs you might have to pay, this calculator by Mount Elizabeth hospital gives you estimates for common surgical procedures based on the kind of health insurance you have.
Hospitalisation bills can be astonishingly high, making health insurance a critical part of your overall protection plan. Apart from keeping yourself healthy and leading a balanced lifestyle, you should review your medical needs from time to time. Also remember to cater for the increasing premiums of your health insurance plan over the long run.
As part of your retirement planning, check that your passive income is sufficient to cover your medical needs, besides your lifestyle needs.
Read more: When Should You Start Planning for Retirement?
It is never too early to start planning for your retirement and ensuring that you have enough runway to accumulate wealth for future needs.