Premiums

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.

The premium percentage rate increases proportionally between €31,565 and €49,602. For the amount of annual earnings that exceeds €49,602, 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.

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

Invoicing

Your insurance premium will be invoiced in accordance with the validity of your insurance. The due date of the invoice is always the 15th day of the month.

The due date of the first invoice is generally on the 15th day of the month following the decision.

Examples:

• If your insurance is valid for one calendar year, you will receive an invoice in four instalments.
• If the insurance period is partly retroactive, the insurance premium for the retroactive period is charged on the first invoice.
• If the insurance period is entirely retroactive, the entire insurance premium will be invoiced at once.
• If you are insured to work on more than one grant at a time, you will receive a separate invoice for each grant.

Insurance premiums are generally invoiced in the following months:

• March
• June
• September
• December

There are some exceptions to invoicing periods, for example around the turn of the year and due to changes in the grant work.

Insurance premiums for leisure-time accident insurance are always invoiced separately.

Melas’ account numbers

OP Helsinki
FI72 5000 0120 4805 94
OKOYFIHH

Nordea
FI65 2290 3800 0000 50
NDEAFIHH

Instead of paper invoices Mela can send you invoices

• as e-invoices to your online bank. Start receiving e-invoices in your own on-line bank by adding Mela to your list of payees.
• as direct debit meaning that your invoice will be debited automatically from your bank account. Your own bank will provide more information on Direct Debit.
• by using e-invoicing. Mela sends your invoice electronically to your e-invoicing operator. If you chose e-invoicing you must send your invoicing information to Mela per e-mail to vakuutusmaksut(at)mela.fi or by message in our on-line service.

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 12,5% (1.1.–30.6.2024).

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.

You can check the tax deductions on the vero.fi -website.

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 (1.01% of your annual earnings in 2024) and healthcare payment (0,51% of your annual earnings in 2024). Further information about healthcare contributions and the public broadcasting tax is available on the Finnish Tax Administration website.

Calculate the amount of your insurance premiums

Mela’s security calculator for grant recipients allows you to see the annual earnings that have been calculated for you on the basis of your grant, as well as to see how your annual earnings affect the amount of your future pension or insurance premiums. You can also calculate the amount of your Mela sickness allowance and MATA occupational accident allowance.