Updated: 07/09/2014 01:45

Govt to consider stronger incentives for companies which provide portable medical benefits

Govt to consider stronger incentives for companies which provide portable medical benefits

The Government will consider strengthening incentives to companies who are willing to provide portable medical benefits that ride on MediShield Life for their employees. 

Health Minister Gan Kim Yong revealed this today as he opened the parliamentary debate on MediShield Life. 

One way of providing "portable medical benefits" is to provide extra cash or CPF contributions for employees to pay for their own insurance enhancements. 

"The 1%-point increase in the employer Medisave contribution rate from 2015 will help. But more can be done to encourage both employers and employees to shift to portable medical benefits built on MediShield Life. I am encouraged that the public service has taken the lead to increase its employer Medisave contribution to public officers, to help them pay for MediShield Life or Integrated Shield Plans that are built upon MediShield Life. I hope more employers and unions will work together to do this for their workers." 

Minister Gan also revealed that a tripartite work group has been formed to look into encouraging employers and employees to provide such benefits. 

The group will comprise the Singapore National Employers Federation, the National Trades Union Congress and the Government. 

He also notes the concern about duplication in coverage, especially for those with employer medical benefits. 

Such employees would lose this coverage when they leave the job or retire. 

So, Minister Gan says MediShield Life provides an opportunity for stakeholders - employers and unions - to better assure workers of lifetime medical coverage, and not just for the duration of their employment.

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