Common Employee Insurance Provided by Companies in Singapore
While employee insurance in Singapore is not made compulsory, employers are liable for covering medical costs should accidents or injuries occur at work. Most employers in Singapore provide basic health insurance and occasional reimbursements for medical and dental expenses.
At SMEs, the standard practice is to provide each employee with a basic medical insurance plan at the very least. Bigger established organisations and MNCs are more likely to offer added insurance benefits and healthcare perks that may extend to an employee’s dependents.
The most common types of coverages included in employee insurance are:
- Clinic visits
- Dental
- Vision
- Specialist
- TCM
Employees Want Better Medical Insurance
According to Swingvy’s survey on workers in Singapore, it was found that better medical insurance had ranked at #5 for “What Employee Benefits Singapore Workers Really Want”. While a handful of workers are not covered by any medical insurance at work, others would prefer having their coverages extended to include outpatient and dental.
Here are some ways you can enhance the insurance coverage provided for your employees at work!
- Implement a Flexi-Cash System at Work
For a start, you may want to consider adding a flexi-cash system. This system gives employers the ability to set a monetary value for employees to use as additional coverage as they wish. For example, Employee A might prefer using the system to cover their dental and TCM costs while Employee B would rather use the system for their Specialist visits instead.
Having such a system creates flexibility and can keep all employees happy as each of them may have different priorities and desires.
- Adopt OneHealth’s Employee Benefits Package
OneHealth offers employee benefits for SMEs such as Benefits@Worksite. Through this program, employees will get to enjoy:
- Extensive outpatient benefits
- Annual basic health screening
- Fitness programs
- Health wellness talks… and more!
With such holistic programs offered at work, employee benefits and wellness are well taken care of. In return, it drives employee motivation and behaviour – effective at keeping employees happy for a long time.