Business owners will know only too well that their employees are their greatest assets. This is why it’s important to keep your employees happy and healthy – which will translate to better business.
Happy and healthy employees can be more engaged at work, and they also report lower rates of absenteeism because of an illness. For businesses fortunate enough to have loyal and dedicated employees, presenteeism can also be an issue – when employees are unwell but continue to work at lower productivity levels and potentially prolonging their illnesses. Of course, businesses with employees who fall ill less frequently also save on medical costs.
One solution proposed by AXA Insurance is their aptly named Better Me Business employee benefits programme. In addition to medical benefits, it also provides supplementary health and wellness solutions. In essence, boosting your employees’ health (and thus productivity) can lead be cheaper for your business in the long-term.
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Here’s five benefits of AXA’s Better Me Business programme.
#1 Customise Plans And Riders That You Want
The Better Me Business programme allows you to pick and choose the employee benefits you want to provide or can afford as an SME. The benefits can be as extensive or targeted as you want, with plans such as Group Hospital & Surgical (H&S), Group Term Life, Group General Practitioner, Group Specialist, Group Dental, Group Critical Illness and Group Personal Accident, as well as riders to enhance coverage.
At the same time, your employees have the flexibility of enhancing coverage on their own.
We summarise these options in the table below. For a more complete cost breakdown, you can visit the AXA website.
| Basic plans | |
| Group Hospital & Surgical (GHS)^ | • Covers hospitalisation and surgical expenses • Choice of Private and Government Restructured Hospitals (GRH) • Covers outpatient Cancer and Kidney Dialysis treatment • Waiver of pre-existing conditions is applicable if the company has prior GHS cover with a headcount of 25 employees and above • Step-down care services provided by appointed service provider(s) are available to members who received designated treatment in GRH+ • Claims are pro-rated at 60% if the insured member is admitted to a ward or hospital type higher than he is entitled to under the policy |
| Group Term Life (GTL) | • Covers death and total & permanent disability • Provides one lump sum payment upon diagnosis of a terminal illness from which death is highly probable within the next 12 months • If the employee was terminated on medical grounds, benefits can be extended for another 12 months+ • All pre-existing conditions are excluded for the first 18 months of continuous coverage |
| Optional riders | |
| Group Extended MajorMedical (Rider to GHS)^ | • Reimbursement of eligible expenses in excess of benefits payable under the basic Group Hospital and Surgical plan where: – Hospitalisation is more than 20 days; or – Surgical procedures of at least 75% of the benefit is payable under the Schedule of Surgical Benefits • 12 months waiting period for pre-existing medical conditions • Claims are pro-rated at 60% if the insured member is admitted to a ward or hospital type higher than he is entitled to under the policy |
| Group General Practitioner(Rider to GHS) | • Covers eligible expenses incurred at a General Practitioner, polyclinic or Accident and Emergency (A&E) department of any hospital in Singapore • Cashless visits at an islandwide panel network of General Practitioner clinics • Cashless arrangement in A&E departments at selected GRH • Covers Traditional Chinese Medicine |
| Group Specialist(Rider to GHS, needs to be taken up with Group General Practitioner) | • Reimbursement of eligible expenses incurred at specialist clinics and diagnostic scans, including X-ray and laboratory tests, referred by General Practitioner • Cashless arrangement at selected GRH for specialist services • Covers Physiotherapy (referred by physician), Chiropractic Treatment |
| Group Dental (Rider to GHS) | • Reimbursement of eligible reasonable and customary charges atnon-panel dental clinics; cashless arrangement for panel dental clinics |
| Group Critical Illness(Rider to GTL) | • Covers 37 Critical illnesses• Choice of acceleration basis or additional basis • 24 months waiting period for all pre-existing medical conditions |
| Group Personal Accident(Rider to GTL and/ or GHS) | • Covers loss of life, permanent disablement or dismemberment due to an accident |
#2 No Sub-limits
Better Me Business does not impose sub-limits for different benefits. Rather, it works on a transparent annual policy limit. With this structure, employees (and employers) have greater certainty about how much of the medical bills will be covered by the programme if they undergo medical procedures.
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#3 A Range Of Health And Wellness Services For Employees
Smaller businesses are usually even more vested in the well-being of their people than much larger companies. Better Me Business works to bring employee benefits that are commonly associated with much larger companies to SMEs and start-ups as well.
This gives employees even at smaller outfits valuable benefits including chronic disease management programme, mental support programme though in-person or virtual consultations, fitness and wellness experiences at exclusive rates, and discounted health screening packages.
#4 Employees May Enhance Their Coverage According to Their Needs
It is impossible any business to cater to the individual coverage needs or wants of a diverse or multi-generational workforce. With Better Me Business, employees who want more coverage have the flexibility of increasing their company-provided coverage or adding on other coverage no provided on the company-provided portion of the plan (this may include: critical illness insurance, personal accident insurance, general practitioner coverage, specialist coverage, and dental coverage).
#5 Access Policy Information and Services Anytime, Anywhere
We’ve come to expect digital solutions such as online access, telemedicine and virtual wellness classes in any employee benefit package. AXA’s Better Me Business does not disappoint.
Through a one-stop HR portal, companies will be able to conveniently access their organisation’s policy details and manage it with greater visibility. They will be able to easily track claims and generate reports on the platform, reducing administrative work and providing an overview of the programme.
Employees, too, will enjoy greater convenience with policy information available at their fingertips via their MyAXA app and portal, including any personal policies they may have with AXA, as well as file and track claims.
Of course, with Better Me Business, employees can also easily access a range of wellness services at their fingertips. This includes a videoconsultations with experienced doctors and nurses for their personalised chronic disease management programme or mental health support and self-help modules, as well as being connected to highly subsidised fitness classes and wellness experiences via an app.
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Who Is Eligible For Better Me Business?
To be eligible, employees must be Residents of Singapore. This includes Singapore Citizens and Permanent Residents (holders of re-entry permits), as well as holders of employment passes, work permits, students’ passes or dependants’ passes.
Different entry and maximum renewal age may apply on the plans.
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