93% of organisations are actively seeking ways to reduce healthcare spending

A quarter of them, however, are unaware of what to do.

More than nine in 10 (93%) organisations are looking for ways to reduce their healthcare spending; however, some (28%) of them are unaware of how to.

According to Mednefits' 2022 Employee Benefits Trends e-book, most companies prefer to create a flexible benefits spending account (58%), digital benefits platform (36%), or offer co-payment to their employees to reduce spending on healthcare.

Whilst organisations are keen to implement a flexible benefits model, they find it difficult to craft a plan that is customisable to each employee’s need.

HR decision-makers said they are also unsure if employees prefer the flexible model (71%). Some think doing so will create friction within the company (66%).

Mednefits said a flexible benefits model allows companies to have better financial control when providing medical benefits, meet each employee's unique needs, and stand out amongst job-seekers.

Currently, the most common types of medical benefits provided by companies are hospitalisation/inpatient care (69%), GP/outpatient care (71%), and health screening (56%).

Companies spend an average of US$900, US$371, and US$430, respectively, for these benefits.

Some of them (19%) also showed interest in providing wellness benefits to employees. One in three companies is willing to pay more than US$2,000 for wellness.

Follow the link for more news on

employee retention

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia