3 Things To Consider When Buying Group Health Insurance

What is group health insurance? Simply put, group health insurance provides health cover to a group of individuals – more often than not, this applies to employees. Generally, group health insurance tends to be less expensive compared to individual insurance plans. 

Attaining health insurance, whether it’s expat health cover or for local employees, is a crucial step in today’s workforce. In the business environment today, competition arises not only from the profit, revenue or talent standpoint but the quality of company culture and people perspective matters as well. In that case, getting group or individual health insurance for your employees may not be mandated, but it can prove to be useful for attracting top talent in the workforce. 

Group health insurance doesn’t only offer your employees access to health care, it also helps your organisation to relate in terms of employee benefits. Medical insurance is fast becoming a point individuals look out for in company culture.

Find out more about group health insurance here

Given the saturation of the insurance market, our health insurance brokers are here to help you find the best type of group health insurance there is to suit the needs of your organisation and employees. 

Born out of demand for expat health cover and protection, our team here at Expat Insurance has a wealth of experience in providing advisory and support for both expats and locals, including organisations in insurance matters.

What are the differences between Group Health Insurance & Employee Medical Insurance (individual)?

We know that employee medical insurance can come in two forms – either by group health or individual plans. What are the differences between the two?

Benefits Drawbacks 
Individual Employee Medical Insurance Greater ownership in designing the plan coverage

• Might not be dependent on your employment status

• Higher premiums likely

• Might not cover pre-existing conditions 

Group Health Insurance • More cost-effective 

• Easier to underwrite pre-existing conditions into coverage 

Greater flexibility for employers in designing coverage 

• Not portable, plan owned by employer 

Despite the differences, it pays to note that health insurance options offered by your broker are all designed to do one thing – provide financial relief and coverage for medical costs. For employers, the benefit of a group health insurance plan can offer the option of choosing a range of coverage options for each individual employee as well. 

Understanding these differences can help you identify the plan you need and to maximise your benefits. 

As leading health insurance brokers, we are committed to helping you understand your needs. To get a better handle on the differences between these types of plans, get in touch with our team.

1. Cost-Effectiveness

One of the factors you should consider prior to buying health insurance from your broker is the cost-effectiveness of a plan. The advantage of a group health insurance plan is in its cost-effectiveness – compared to purchasing individual employee medical insurance plans. What are these cost-saving benefits? 

There is a larger risk pool when you pick this type of health insurance for your employees. A broker may also be able to advise you on the possible tax benefits you get as an employer with a group health insurance in place. 

The viability of choosing this over other employee focused medical insurance plans is linked to several other factors as well. What type and extent of coverage are we looking at? How many employees are being covered? 

Group health insurance plans can be great options, especially for smaller businesses or start-ups – where it can be advantageous to be cost-efficient at the beginning. 

2. Your Health Insurance Broker

Aside from the cost-saving plus points, who you work with matters quite a bit as well. 

The end-to-end process of finding, developing and managing your company’s choice of group health insurance can be a challenging, albeit crucial one. Picking the right health insurance broker can make the process hassle-free and convenient in terms of service. We understand that, as employers, there is value in services that are transparent. 

The team here at Expat Insurance Singapore has had years of experience, working with both corporations and individuals to explore, develop and manage insurance plans. We want to help you provide for your employees with medical insurance that gives them access to top quality care and services – a plus point in enticing potential employees and retaining current ones. Let us help you set up a holistic plan – with travel and wellness considered. 

Is getting employee medical insurance necessary? Read more here

3. Improved Workplace Productivity 

Implementing group health insurance for your employees does more than just enhance your appeal as an employer. It also safeguards the health interests of your employees. 

Acquiring group health insurance for your employees can encourage them to visit the doctor’s more often and be in the pink of health. Lowered costs for going to the doctor incentivises them and conveys to them the importance of their role in the workplace. 

Lowered absenteeism can improve workplace productivity, culminating in a much more efficient and engaged workforce. Likewise, an engaged and happy workforce results in lower turnover rates, effectively reducing long-term costs associated with absenteeism and motivating employees to stay loyal to the firm

Find out why employee health & well-being matters in your company here.

Secure Expat Health Cover For Your Employees Today

The job market landscape is evolving rapidly – not counting the ripple effects and unprecedented changes that the pandemic brings. This solidifies the need to protect and safeguard your employees, especially when their efforts contribute a great deal to the success of your organization. 

Group health insurance is one way to do that. 

Minimally, employees expect some form of health coverage but offering them a robust and comprehensive group health insurance plan can up your chances at retaining some of your best talents. With our team, you’re a step closer to finding the right kind of expat health cover – one that works for your diverse pool of employees. 

Schedule a chat with us and we bring you ease in navigating the insurance market.

Authored By John Ntatsopoulos


Over the course of his 34 years career, our CEO, John, have worked predominately in the area of insurance and financial services across major APAC…


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