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Employer-provided medical costs in Singapore to rise by 10% in 2020: report

The figure is higher than the Asia-Pacific average of 8.7%, and will outpace general inflation of 1.4%

Published Fri, Sep 20, 2019 · 09:50 PM
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Singapore

EMPLOYER-PROVIDED medical benefit costs in Singapore are expected to jump by 10 per cent in 2020, outpacing general inflation of 1.4 per cent, and higher than the Asia-Pacific (Apac) average of 8.7 per cent. This is according to the 2020 Global Medical Trend Rates Report by UK insurance company Aon Plc.

However, projected medical trend rates vary significantly across different locations, Aon said.

Within Apac, costs are expected to increase the most in Malaysia (14 per cent) and Thailand (13.9 per cent), while China and Hong …

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