107 views
Photo by Marcelo Leal on Unsplash

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

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!