“your Health, Your Coverage: Approvals And Claims In The Australian Context” – Knowing what your insurance is, and how it works when you are employed is important to protecting your home, family and other responsibilities. Here’s an update on the latest trends.

Many times when we are interviewing for jobs, many questions depend on the following: our suitability for the job; what the salary and hours are, and the company culture and expectations.

“your Health, Your Coverage: Approvals And Claims In The Australian Context”

Finally, and often overlooked, are employee benefits. And even then, it’s often the snazzier perks and rewards that excite us, like mobile phone claims or free parking.

Health And Insurance

However, what is often overlooked is employee health care benefits – we should really pay attention and make sure that during our discussions we find out more about the coverage, and how it involves you and your family if you join!

Employers pay more, after all. The cost of healthcare benefits for Singapore employers is expected to increase by 9% by 2022, according to a survey of medical insurers by Willis Towers Watson, a retail advisory and solutions firm.

In fact, Singapore’s healthcare benefits costs by 2022 are on par with our entire Asia-Pacific region, which is expected to rise by 7.6%. In 2021, profits grew by 7%, and 5.4% in 2020.

If you do manual work, or if you do non-manual work but earn less than $1,600 monthly, potential employers must provide you with workers’ compensation insurance, which applies to both local residents and foreigners.

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This will cover your medical expenses if you are injured at work, and pay for at least 14 days of sick leave outside (your MC days

Some employers also include other benefits such as traditional Chinese medicine (TCM), or transportation to and from work while injured.

Many employers offer basic health insurance as a benefit, while others include benefits such as medical and dental reimbursement. Other goodies include coverage for your children or dependents, personal risk, or free use of the company doctor, if available.

The traditional view is that large corporations and multinational corporations (MNC) tend to be more generous in terms of their health insurance benefits and health care benefits, while small and medium enterprises (SME) may lag behind. But that’s not entirely true these days.

Understanding Your Health Insurance Documents

According to a Business Times report, British multinational insurance company Prudential actually released an artificial intelligence-powered app recently, and as the demand for digital solutions grows, it is adding new functions aimed at SME employees.

The app – named Pulse – has registered more than 300,000 downloads in Singapore as of the end of September 2021, and is designed to help SMEs expand and simplify access to insurance and employee benefits.

This is important as SMEs represent more than 99% of businesses in Singapore, and employ 70% of our workforce, said Prudential CEO Dennis Tan.

If you are considering a position with an SME, check to see if they have group life insurance or group medical insurance, especially if they don’t have a large or full-time human resources (HR) team to manage employee insurance. requirements.

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To help small or less digitally advanced SMEs in this regard, SkillsFuture Singapore has launched the SME Skills Accelerator program with Prudential, which supports participating companies to plan a digitalisation roadmap.

This will help them consider tools like Pulse to digitize their insurance for employees, without needing to spend money to develop in-house digital tools.

As a potential or current employee, this can give you access to employee benefits that an MNC typically offers, such as simplified application processes, on-site clinical features to find a doctor nearby when you are sick, or schedule and consult over the phone.


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