Whether you’re in a blue-collar or white-collar job in Singapore, having high-quality medical insurance can come in handy during regular medical checkups or emergencies. As an expatriate, accessing basic healthcare without excellent medical insurance can be costly as you might need to part with $1,800 to $3,700 per day. That means your medical bill might skyrocket to $28,000. Fortunately, group medical insurance for expats in Singapore doesn’t need to be costly.
Now that you’ve employed a Singaporean expat, you need solid group medical insurance, even if it means starting with a basic medical package. You can include dental, pregnancy, and birth health packages from there.
What is Group Medical Insurance?
Group medical insurance is a plan catering to the medical needs of employees. It applies to employees who need urgent medical care or surgical procedures if they are sick or injured at the workplace. Click on to https://expatinsurance.com.sg/group-medical/ for more info.
The benefits of group medical insurance include:
1. Easy Planning
The last thing you need as an employer is to cater to individual medical needs because it doesn’t ease the burden of planning. Fortunately, group medical insurance involves one contract that provides umbrella coverage, saving you time and resources.
2. Increasing Work Productivity
Your workers need to be assured that you got their back should they require hospitalization or surgical needs. They rest assured knowing you value their health even if an illness or injury occurs with that in mind.
3. Attracting and Retaining Talent
Every company is looking to have productive employees to meet their objectives and goals. A group medical insurance is a good plan to attract prospective and retain current employees.
Small but important things to observe in group medical insurance in Singapore
GP and Specialist
Having a general physician or specialist on speed dial can come in handy for a medical emergency. You need to ensure your employees’ medical needs are effectively taken care of. Getting a well-rounded healthcare plan can do you justice.
If your employees are primarily expats, good maternity insurance can be all they need to escape expensive prenatal and postnatal care. This takes care of their wellbeing and their newborns from the start.
Going for routine dental checkups or emergencies can be expensive if you’re paying through your savings. Dental insurance should be among group medical insurance plans to ensure employees avoid out-of-pocket expenses.
Hospital and Surgical Care
Getting hospitalized or going for surgical care can be expensive in Singapore, making it necessary to include hospital and surgical care in group medical insurance for expats and local employees. It starts with getting a good insurer to discuss the best umbrella package for your employees, so you attract and retain top talent.
Whether you’re an employee or employer in Singapore, a group medical insurance plan is necessary during hospitalization, surgical, maternal care, and dental emergencies. Singapore is one of the most expensive countries globally, so navigating your way around high-quality medical insurance with the best premiums is necessary.
Most insurers have different insurance plans, depending on your budget. Once you get one matching your medical interest, rest assured that everything will be as per your interests.