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“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.
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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.
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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.
Ultimately, whether the business is an SME or an MNC, we want to make sure we stay healthy, productive, and financially prepared for the future. So don’t be shy about asking what your potential health insurance and benefits will be when you’re hired, or about to sign on the dotted line of an employment contract!
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Looking for career guidance? If you’re considering a career change and need some expert advice, book a complimentary session with WSG’s Career Coaching today.
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Home / Understanding Employee Medical Insurance: What You Should Look For Whether You’re Hiring, or During Your Job Search
Whether you’re a recent graduate looking for a new entry-level job or a seasoned veteran considering a career change, Workipedia by MyCareersFuture is the one-stop shop for all your job application needs. How to maximize your health insurance: 6 tips for: Life Kit Using your insurance of health does not have to be “in-case-of-emergency”. Learn how to make the most of your coverage by using preventative care, scheduling strategies and finding exercise classes.
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Health insurance in the U.S. you can be confused. Many people do not have access to good coverage that they can afford, and millions of people do not have health insurance at all. There are a number of big picture changes the federal government needs to make to make health insurance work better.
In the meantime, if you’re lucky enough to have health insurance and a plan in place, you can use your insurance wisely to set yourself up for better health and lower your out-of-pocket costs.
“Many consumers fail to take advantage of the benefits their health insurance offers simply because they don’t know they exist – or worse, they end up paying out-of-pocket for expenses that might otherwise be covered,” explains Tasha Carter, Insurance Consumer Advocate for the state of Florida. He helps people understand all types of insurance – including health insurance – and his office advocates on behalf of Florida consumers whenever insurance decisions are made.
Health insurance companies are required to provide a summary of benefits and coverage written in plain language. If you don’t receive it in the mail at the beginning of the year, you can go to your health insurance website or call the number on the back of your insurance card and ask for it.
Common Ground Healthcare Cooperative
At the beginning of each year, take a few minutes to look over your benefits summary, even if you’ve had the same plan for a long time and are sure you know what’s in it.
“A lot of times insurance companies make changes to benefits in terms that are often used at policy renewals, so you want to make sure you review them and understand what those changes are and how they might affect you,” Carter said. he says.
It’s also worth checking your benefits if your life has recently changed. Features of your plan that didn’t matter to you before may be important now, such as professional coverage or maternity benefits.
“If consumers can make reviewing their health insurance a traditional practice, it’s something that becomes easier and easier to do over time,” Carter said.
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How much you use your health insurance depends on what happens in your life. An annual physical exam with your primary care physician can keep you up-to-date on what’s going on in your body, and give you an idea of what kind of health care you may need in the coming year.
Dr. Nicole Rochester works with patients and their families to navigate the health care system. He says that having a doctor who really knows – in fact many years – is very important.
“If you don’t have a doctor to take care of you, you go from time to time to different providers when you get sick,” he said. “They don’t know what’s normal for you [when it comes to] your vital signs or your laboratory studies, so all they can do is react in that moment.”
A good doctor who knows your family history and your common vital signs and symptoms. They can help you stay healthy by flagging appropriate screenings, spotting problems before they become serious concerns and referring you to a specialist if you need one.
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Don’t have a pediatrician? Rochester suggests getting referrals from friends or acquaintances, instead of relying on online reviews.
“There is nothing more powerful than talking to a friend, a co-worker, a neighbor, a church member and asking, ‘Do you have a great doctor? Do you like your doctor? What do you like about your doctor? What are you? I don’t like?'” she said.
“As we use our family and friends and network of vacation colleagues and hairdressers…we really need to tap into that powerful network when we’re looking for a doctor.”
Even if you have a bare-bones, high-deductible plan, any tests or other “preventive” care you need should be covered – meaning, you’re not responsible for copays or other out-of-pocket costs.
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That includes screening for diabetes, cholesterol and blood pressure. “In general, breast cancer screenings are also free [as well as] vaccinations like getting a flu shot,” Carter said.
The American Academy of Family Physicians periodically updates a handy cheat sheet with recommended tests by age, although your doctor may recommend something different depending on the individual and your test.
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