GROUP MEDICAL INSURANCE IN SINGAPORE
Attracting and retaining top talent in Singapore is never easy. Not only are highly skilled professionals (both local and foreigners) demanding better salaries, they are seeking out employers and companies who are committed to ensuring their employees’ health and mental well-being with comprehensive benefits, some of which include the likes of group medical insurance for workers here in Singapore.
WHAT IS GROUP MEDICAL?
Group medical is an insurance plan that provides cover to all your employees for hospitalization and surgical procedures for illness and injury. It can be customized with various hospital limits and with additional add-ons to suit your workplace and your budget.
WHAT SHOULD BE INCLUDED IN THE GROUP MEDICAL INSURANCE FOR YOUR EMPLOYEES?
We will work with you to design a plan that meets the needs of your workplace and industry, a plan that will not only attract talent but that will also help retain the talent that you have invested so much time and effort in training and developing. Benefits that are regularly considered and added include:
•Inpatient Coverage
– With sufficient limits to cover a Private or Semi-Private room as well as surgical procedures and treatment of chronic diseases such as Cancer and Kidney Dialysis
•Outpatient Coverage
- Covering GP and Specialist consultations as well as prescription medications - Wellness and Mental Health benefits are increasingly in demand
•Employer Assistance programs (EAP’s)
•Mental Health Benefits
•Physiotherapy
•International Emergency Services
•Wellness benefits to include preventative care such as health screenings
•Additional benefits such as Maternity, Dental and Vision
You can tailor these components in the group insurance package you have picked to suit your team’s needs. Our team will guide you through the process every step of the way.
BENEFITS OF GROUP MEDICAL INSURANCE
WHY YOU NEED TO OFFER GROUP MEDICAL INSURANCE IN SINGAPORE TODAY
We understand the challenges HR professionals face. Between offering a competitive employee health and benefits programmes that includes a well-rounded group insurance plan here in Singapore and managing the company’s budget, more often than not, it can turn into a balancing act.
Not only does a good group medical insurance policy help attract top talent to your business, it also provides them with vital protection in Singapore, where medical costs can run high.
By offering comprehensive group medical insurance as part of your employee benefits scheme, you are making it clear to your current and future teams that you prioritize their health and financial security. If you would like to discuss this further, leave your details in our online enquiry form and one of our team members will get in contact to help you out.
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OUR EMPLOYEE BENEFITS VISION
A well protected & happier workforce
Our vision is to create “Well Protected and Healthier & Happier Workforce”. Our people-focused, award-winning services offer a consultative approach to employee benefits in Singapore - drawing on our extensive experience advising employers from diverse and agile workforces.
Our meaningful insights allow you to make the right decisions for your business and we are committed to empowering our team to provide you with exceptional client service.
We dare to be different, and our Employee Benefits team will help you navigate the employee benefit procurement process according to a five-step process that we call “The Benefits Blueprint”. We sit down with you to understand your benefits philosophy, design a group health insurance that is specific to your organisation’s needs and ensure it provides attractive coverage for your employees. Call us today and let us help you get started on tailoring a unique employee benefits value proposition for your business.
WHY DOES MY COMPANY NEED TO OFFER GROUP MEDICAL INSURANCE IN SINGAPORE?
Not only does a good group medical or health insurance policy help attract top local and foreign talent to your company, it also provides these workers with vital protection in Singapore, where medical costs can run high.
As we all know, Singapore has one of the most expensive healthcare systems in the world. While Singapore citizens and permanent residents have the basic safety net of MediShield Life to cover large hospital bills, in comparison, without high-quality group health insurance, expats working in Singapore are exposed to the full cost of treatment. A seemingly straightforward repair of a broken collarbone could cost more than S$26,000 in hospital bills, and this doesn’t include rehabilitation to get the employee back to work. Without the right cover, standard inpatient procedures can end up becoming a significantly hefty financial commitment for your foreign workers. By offering a comprehensive group medical insurance as part of your employee benefits scheme in Singapore, you are making it clear to your current and future teams that you prioritise their health and financial security. If you would like to discuss this further, leave your details in our online enquiry form below and one of our team members will get in touch with you to advise and/or assist you.
WHAT SHOULD BE INCLUDED IN THE GROUP MEDICAL INSURANCE FOR COVERAGE IN SINGAPORE
We would recommend that you make your company’s group health insurance as extensive as possible by including the following:
- Inpatient Coverage
With sufficient limits to cover a Private or Semi-Private room as well as surgical procedures and treatment of chronic diseases such as Cancer and Kidney Dialysis
- Outpatient Coverage
Providing outpatient insurance coverage for GP and Specialist consultations as well as prescription medications
Physiotherapy and Psychiatric benefits are increasingly in demand
- International Emergency Services
- Wellness benefits to include preventative care such as health screenings
- Additional benefits such as Maternity, Dental and Vision
You can tailor these elements in the group medical insurance package you have picked to suit your company’s needs in Singapore. Our team will guide you through the process every step of the way. Call our team today if you have any questions about what needs to be included in your group health insurance policies.
WHAT ARE THE BENEFITS OF INTERNATIONAL GROUP HEALTH INSURANCE?
- These plans provide worldwide coverage allowing your agile team to access top quality medical care wherever they may be working, meaning that they don’t have to wait to return from a business trip to seek medical attention. Including this benefit could be enticing to potential employees, especially when you need them to travel frequently.
- It is easier for your employees to understand what they are covered for under the group health insurance. Benefits that are defined by hospital room type and access to direct billing means employees can focus on their health, not their final bill.
- Value-add services like Employee Assistance Programs, Second Medical Opinion services and technology-enabled solutions like tele medicine provide for more holistic solutions.
- Bundling all these employee benefits together makes the result far more cost effective.
These plans will be able to be used in conjunction with comprehensive group travel insurance policies to provide well rounded, holistic protection for your employees wherever they are working. Interested in setting it up? Arrange a time to speak to someone in our team about these employee benefits.
HOW CAN I SET UP A COMPREHENSIVE GROUP HEALTH INSURANCE FOR MY FOREIGN WORKERS?
Secure medical benefits for your employees by entrusting us with the process. Fill in our online form and our team will get back to you within a day. We’ll work together with you to prioritise needs and resolve challenges. Having worked with some of the biggest brands, our award-winning brokerage is capable of acquiring the best possible group health insurance for your business. Acting as a conduit between the insurance provider and your people, expect nothing less than top-notch service from us. Keeping your employees safe and valued is priceless.
FREQUENTLY ASKED QUESTIONS
How does group medical insurance work?
Group medical insurance is a plan that covers a group of individuals. For instance, both small and large businesses can purchase group medical insurance to cover for their employees’ health in a single benefits package. The coverage may include dental, hospitalisation, and surgical procedures.
Which is the best group medical insurance?
The best group medical insurance is one that meets the needs of both the business and the employees. Every business or company has different needs and budgets so no off-the-shelf medical or health insurance package will be an automatic fit. The best solution is to have an expert listen carefully to your needs and then select the best customised options based on their recommendations.
Where to buy group medical insurance in Singapore?
If you are looking to purchase group medical insurance for your employees in Singapore, you may get in touch with our team of brokers, who will connect you with a suitable provider from a large network of insurers. Did you know that the cost is the same whether you reach out to insurers directly or via Expat Insurance? By using Expat Insurance you will also get personalised service, help with claims interventions, and quicker responses.
Is it recommended to get a hospital and surgical insurance plan if my workforce is young or healthy?
Hospital and surgical insurance isn’t just for those undergoing future surgeries. We do not know what the future holds, and illness or accidents may strike the young and old at any time. Without the proper coverage, a business and/or its employees may suddenly be facing hefty bills for even a short stay. Having a hospital and surgical insurance plan in place allows your employees to benefit from Singapore’s world-class healthcare without worrying about medical debt, and as an employer you can be assured your employees can recover and return to work promptly. Alternatively, you can consider purchasing a group personal accident plan as part of your employee benefits package.
DO YOU NEED HELP ATTRACTING TOP TALENT TO YOUR BUSINESS?
Call our employee benefits team today at +65 6439 8026 below to discuss ways that we can help you take better care of your most important asset; your people.