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.