NTUC to renew push for portable medical plans
With MediShield Life, firms can help staff pay for such schemes, it says
Published on Jun 7, 2014 8:20 AM
With MediShield Life benefits now greatly enhanced, companies should seriously consider taking the money they budgeted for group insurance premiums and give it instead to workers individually, the labour movement suggested yesterday.
This could take the form of both Central Provident Fund contributions, which will enable their staff to pay for MediShield Life premiums, and cash, to allow them to upgrade to privately run Integrated Shield plans that offer even higher insurance coverage and hospital stays in higher ward classes.
"This avoids duplication and even wastefulness," said labour chief Lim Swee Say, speaking on the sidelines of a union event yesterday. The other advantage is that workers will still get to enjoy insurance coverage even after they quit, he added.
This type of arrangement is known as a portable medical benefits plan, and Mr Lim said the National Trades Union Congress (NTUC) will be making a renewed push to promote it.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!