For customer service and all business enquiries, call +1 441 295 5566  |  For website support or to set up an online account, call +1 441 298 0301

The application process for the one-time Pension Withdrawal of up to $6,000 per the COVID-19 Pension Act Amendment is open. Click here for details or to apply
For questions regarding the pension withdrawal, call +1 441 298 0358 or email

Back to FAQs

What is the Standard Premium Rate (SPR) and what does it include?

All health insurance premiums in Bermuda include a Standard Premium Rate (SPR), set by law. The SPR is comprised of:

  • Standard Health Benefit (SHB) premium, which is retained by insurers to pay eligible SHB claims

  • Mutual Reinsurance Fund (MRF) fee, which is collected on behalf of Government’s Health Insurance Department

Effective November 1st, 2021, the SPR is being increased by 12.7%, due to an increase to the MRF component. This means that more than 94% of the SPR flows to the Government.

2018-2019 $253.34 $101.97 $355.31
2019-2020 $23.34 $331.97 $355.31
2020-2021 $23.34 $331.97 $355.31
2021-2022 $23.34 $376.97 $400.31

More Health FAQs

Didn't find what you were looking for?

Call a BF&M representative for more information.