[SINGAPORE] Employees who fall ill and need outpatient or inpatient care typically try to claim as much as they can from their company’s medical cover, before they tap their Integrated Shield Plan (IP).
But they may not be aware that their employers, who subscribe to group-medical cover for their workforce, grapple with similar pressures that dog the IP market.
Escalating claims and rising cost of care – usually in private-care settings – are causing companies’ group-health premiums to rise by an average of 15 to 20 per cent a year.