The role of medical benefits for employees in Singapore's increasing employment rate

The role of medical benefits for employees in Singapore’s increasing employment rate

Many employees working in the public and private sector depend on medical benefits, provided by their employing firm,to support their health and well-being, as well as that of their family members.Many firms, as incentives,offer medical benefit, such as health insurance premium paid in part or full on behalf of it’s employees. These paid premiums, cover and/or  reduce the costs of emergent medical visits and/or prenatal care, regular checkups, maternity care etc significantly.It is believed that without these health insurance premiums, certain workers would be unable to afford the expenses incurred during vital medical care. The health benefits offered vary from firm to firm, region to region and country to country. The medical benefits for employees singapore based firms, have been ranked as the highest and best by international surveys.

The medical benefits for employees;singapore edition

Like mentioned above, singapore is a country that’s known for its top notch quality medical benefits that it’s corporations provide to their employees. Under the labour laws and the Singapore employment act, companies are legally required to provide fully paid sick and hospitalisation leaves each year, to an employee who has worked for a period longer than 3 months. Failing to do so, companies and their top level managers can be imprisoned since it is an offence, punishable by the law.

medical benefits for employees singapore

However these parameters amount for a mere bare minimum, companies often tend to go above and beyond with healthcare related incentives for two reasons

  1. Labour in singapore and especially skilled labour is expensive and hard to find and healthcare is a priority for everyone, hence a company offering better medical benefits is sure to attract more and better employees.
  2. The CEOs and top level managers of the firms or basically the people in charge of the decision making, understand the value of human life and are often philanthropic to a philanthropic extent. Hence they offer premiun quality insurance to their employees at a significantly reduced or a cost that’s almost negligible to them, out of the goodness of their hearts .

Singapore is a country that ranks in the top 10, when it comes to the quality of life led by it’s citizens. The country values each and every person and shows it through their various laws and policies. The tremendous medical benefits, provides by public and private companies are a classic example of this. It is because of these medical benefits and other incentives that people from all across the world are willing to live and work in Singapore.