AIA Singapore boosts mental health support and enhances corporate insurance benefits for over 1.3 million employees
- Written by Media Outreach
With over half (59%) of Singaporean consumers expressing a need or potential need for additional resources and support for mental wellness[1], AIA Singapore aims to bridge this gap with their upcoming policy enhancements.
SINGAPORE - Media OutReach Newswire - 4 October 2024 - AIA Singapore, the leading insurer in employee benefits, today announced substantial enhancements to its corporate insurance policies starting in 2025. This includes a first-in-market expanded inpatient coverage for mental health care and other enhanced benefits to provide more accessible and inclusive support for its corporate customers, at no additional premiums.
Designed to address the evolving needs of employees today, these improvements are poised to benefit approximately one-third of Singapore's workforce, demonstrating AIA Singapore's commitment to providing comprehensive employee benefits solutions.
Critically, over half (59%) of Singapore consumers believe that they need or might need more resources or support for mental wellness, identifying affordability (66%), accessibility (53%), and presence of workplace initiatives (51%)[1] as essential resources and support required. This is especially worrying as nearly 1 in 2 (44%) Singaporeans experience mental health struggles[2].
Businesses also face considerable repercussions from poor employee mental health, with productivity losses reaching up to 40% among those struggling with mental health issues[3]. As the leading provider of employee benefits, AIA Singapore's corporate insurance policy enhancements are set to make a substantial positive difference for more than 1.3 million employees they insure[4].
"Today, achieving holistic wellness means going beyond physical fitness and taking care of both physical and mental wellbeing. With full-time employees in Singapore averaging over 40 hours per week at work[5], employers hold a crucial responsibility in supporting their employees' mental health. Recognising this, AIA Singapore is dedicated to partnering businesses by offering comprehensive and flexible benefits that prioritise their employees' well-being," said Kenneth Tan, Chief Corporate Solutions Officer at AIA Singapore.
More inclusive and accessible health benefits for employees and their loved ones
In 2025, corporate employees insured by AIA Singapore will receive enhanced support for their mental wellness under the Group Hospital & Surgical Insurance (GHS). Setting a new standard for employee mental health coverage, AIA Singapore will be the first in market to expand inpatient plans to automatically include inpatient mental care. This ensures that the actual costs of inpatient mental health treatments will be fully covered, up to the plan's maximum limit.
This enhancement makes quality mental health care more accessible and convenient, empowering individuals to seek timely support for their mental wellness. Additionally, by treating mental health with the same importance as any other health condition, AIA Singapore aims to reduce the stigma surrounding mental health — which 6 in 10 (58%) of of Singapore consumers feel that there is stigma towards mental health[6].
With no changes to the premiums, other key corporate policy enhancements to be introduced from January 2025 onwards are targeted at improving holistic well-being, including:
- Treatment for in-patient mental care on 'as charged' basis;
- Increasing age limit for senior workers;
- Introducing mobile inpatient care at home as an alternative inpatient care delivery model;
- Enhance Accident & Emergency outpatient coverage to Singapore Government Hospitals on 'as charged' basis;
- Expanding paediatric care direct access, without referral letters from age 7 to 12.
In addition, as part of AIA Singapore's efforts to equip employees with the tools to Plan Well[7] for their long-term health needs, employees are now able to manage their future care preferences with WhiteCoat's Plan Ahead Services (PAS).
This simplifies the usually complex and taxing process of obtaining necessary legal documents, such as a Lasting Power of Attorney (LPA) and Advance Medical Directive (AMD), providing a guided step-by-step approach. This complimentary service makes planning for future care more accessible, empowering employees to take proactive steps to alleviate future burdens on themselves and their families.
Continuing to pave the way in championing holistic wellness and mental health support
AIA Singapore continues to lead the way in making quality mental health support more accessible. As the first insurer in Singapore to offer mental health coverage with the launch of AIA Beyond Critical Care[8] plan in 2019, AIA Singapore's upcoming corporate insurance policies enhancements align with the Singapore governments' decision to include mental wellness in its national agenda[9]. This...