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Premiums

The cost of your insurance premiums is calculated according to your age and your annual (MYEL) earnings as specified in your insurance decision.

MYEL earnings are always calculated on an annual basis, even if your grant period is shorter than one year, while your insurance premiums and the amount of pension you accrue are based on the actual insurance period.

Further information about annual earnings: Annual earnings.

MYEL insurance premiums in 2020

Age Annual earnings Premium percentage rate
under 53 less than €27,882

more than €43,814

13,0140%

24,10%

53–62 less than €27,882

more than €43,814

13,8240%

25,60%

63 or more less than €27,882

more than €43,814

13,0140%

24,10%

The premium percentage rate increases proportionally between €27,882 and €43,814. For the amount of annual earnings that exceeds €43,814, the premium percentage rate is 24.10%. Due to the higher pension accumulation, the premium percentage rate for persons between the ages of 53–62 is slightly higher during the transition period 2017–2025.

MATA insurance premiums in 2020

Insurance type Premium
Mandatory occupational MATA insurance €1.80 + 0.085% of annual (MYEL) earnings
Voluntary leisure-time MATA insurance €16.00 + 0.3% annual earnings

You can estimate the cost of your insurance premiums by using the Premium calculator.

Invoicing

Your insurance premiums are invoiced according to how long your insurance is valid.

The first due date depends on the date on which your insurance was issued. Invoices are payable on the 15th day of the month.

Examples:

  • If your insurance is valid for one calendar year, you will be invoiced in four instalments.
  • If your insurance is valid for 6 months or less, you will be invoiced in one instalment.
  • If your insurance is issued retroactively for a previous period, you will be invoiced in one instalment.

Insurance premiums are generally payable in March, June, September and December. Exceptions to the invoicing periods may be caused by the turn of the year and changes to your grant  work.

Premiums for leisure-time accident insurance are always invoiced separately.

E-invoicing

As a Mela customer, you can choose to receive and pay invoices for insurance premiums electronically in the form of an e-invoice through your online bank. E-invoicing is available for customers of OP Group, Nordea, Danske Bank, Ålandsbanken, POP Pankki, Aktia, Säästöpankki, Handelsbanken and S-pankki.

Customers who choose e-invoicing will not be sent paper invoices or invoice attachments.

Payment schedule requests

If you wish to have more time to pay your premiums, please contact our Financial Department (vakuutusmaksut (at) mela.fi) in order to set up a payment schedule.

Interest for late payment is always charged for outstanding premiums. The annual interest for late payment in accordance with the Interest Act is currently 4%.

If payment is overdue, and you have not agreed a payment schedule Mela, you will receive one payment reminder before recovery proceedings are undertaken.

MYEL insurance premiums are tax deductible

Insurance premiums are fully tax deductible. Mela notifies the Finnish Tax Administration directly about premiums that you have paid.

Other payments related to MYEL insurance

Your annual (MYEL) earnings are also used to calculate your healthcare contribution and public broadcasting tax. The healthcare contribution comprises a daily allowance contribution payment (1.18% of your annual earnings in 2020) and healthcare payment (0,68% of your annual earnings in 2020). Further information about healthcare contributions and the public broadcasting tax is available on the Finnish Tax Administration website.

Do you have any questions regarding your premiums?

We have collected on our website the most frequently asked questions that you can browse to find answers to your own questions.

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