94% of firms attach international medical plans to healthcare programmes

This comes as employees seek more comprehensive plans to reduce out-of-pocket costs.

94% of Singapore companies bear the full premium costs for employee coverage on a compulsory basis with international medical plans so as to better address the needs of their increasingly regional and mobile workforce, according to a study by Mercer Marsh Benefits’ (MMB).

MBB noted that all the companies provided inpatient benefits whilst 98% of companies provide outpatient benefits. Meanwhile, more than 97% of these plans provide dependent coverage with benefit limits equal to that of the employee plan.

“Over the last year, we have seen a growing trend where employees are looking towards more comprehensive healthcare plans to reduce their out-of-pocket exposure,” said Neil Narale, Singapore health business leader for MMB.

“As such, international healthcare plans enable employers to better manage and address the needs of their workforce – whether it is to ensure consistent coverage across the region or globally, or for peace-of-mind when it comes to a mobile workforce that may require frequent travel and relocation,” he said.

International medical plans’ benefits are usually designed to provide extra coverage with minimum out-of-pocket exposure. These include: full coverage for high-cost cancer and kidney treatments; coverage for pre-existing medical conditions once a minimum headcount is met; immediate global portability from one country to the next; customisable plans tailored to employees’ specific needs; and cashless inpatient treatment and online support.