Your Global Insurance Partner

The benefits of a health insurance top-up plan

The benefits of a health insurance top-up plan

It is common knowledge that many employers will provide health insurance plans to their employees. However, a good insurance policy might not always be sufficient to cover for some medical expenses.  

Indeed, many companies offer insurance policies with a low threshold limit. As such, employees are usually not fully covered against various unexpected costs such as hospitalisation expenses. 

In this situation as an employee, a top-up health plan can help you to make sure that you are never exposing yourself to financial liabilities not covered by your job’s insurance.  

We will go over the various examples illustrating why top-up insurance plans can greatly benefit employees and how we can help you in this case.

In the event that you have pre-existing diseases 

Insurance companies are usually more accepting of pre-existing conditions with top-up plans than they would be with an individual plan. Nevertheless, keep in mind to check if you have a pre-existing condition excluded from the plan, such as asthma, diabetes, or a high blood pressure. You want to make sure that plans’ exclusions do not affect your yearly medical expenses. 

Top-up plans and additional Medical benefits 

Maternity, dental, and vision are often not included in a company’s health plan. In this case, it is still possible to use your employer’s insurance policy to cover such things as inpatient and outpatient care. Nonetheless, maternity benefit, optometrist visits and dental care may all be covered under the adequate top-up plan. 

Top-up plans can subsidise your company’s low benefit levels 

Regardless of the types of coverage your group insurance plan has, they often still have maximum benefit levels. Those benefit levels can be too low to enable the policy and make it effective. As such, top-up insurance plans can help you avoid paying high deductibles. Furthermore, top-up covers are available with family floater plans, reducing your insurance cover’s yearly bill. 

If you are a frequent traveller based in Singapore 

The reach of a regular health plan is also often limited to a specific geographic location. That could be an issue if you frequently travel outside of Singapore for work. Besides, the recent pandemic has forced many to stay abroad where their basic insurance policy might not cover them. In this case, a top-up health plan can provide an extension of coverage area from Asia to anywhere in the world. 

Upgrade in medical consultation 

For budgeting reasons, insurers may exclude specialists and clinics’ consultations as they assume the price is going to be higher than the average for a regular consultation or treatment. Moreover, they may also want the insured to go to a designated hospital with lower rates. As such, a top-up plan can open the doors for a larger pool of medical practitioners. 

Protect yourself against medical inflation 

Medical inflation is often overlooked but it may eventually weigh on your yearly health expenses. For example, the cost of medical and dental treatment has risen nearly 78% in the last 20 years, or more than 2.9% per annum in Singapore. Investing in a top-up health insurance policy can help you mitigate the inflationary risk and reduce your overall medical bill.  

How can BLACAZ help you? 

Because employees are at the core of a company’s success, taking care of their health coverage is crucial. However, sometimes a regular health plan might not be enough and subsequently reduce employees’ medical possibilities.  

Choosing the adequate top-up insurance plan can reduce your overall premiums paid, waiting period (by having a greater access to various clinics) and finally increase your health protection. 

BLACAZ’s array of Employee Health & Benefits helps you find the most suitable insurance solutions to cover your employees’ health expenses. With an established expertise in corporate health, our team can guide you through the best top-up insurance plans available on the market. 

Feel free to contact us today so we can answer all your questions and find you the top-insurance plan you need. 

Recent Posts

View All

    Health Insurance top-up
  • The benefits of a health insurance top-up plan

  • It is common knowledge that many employers will provide health insurance plans to their employees. However, a good insurance policy might not always be sufficient to cover for some medical expenses.   Indeed, many companies offer

  • The difference between D&O and Professional Indemnity insurances

  • Directors and officers of publicly traded corporations, private companies, SMEs, or non-profit organizations (NPO) are personally exposed to unlimited financial liability. They all share the same legal obligations. As such, it is the responsibility of

  • HR personnel and health insurance benefits
  • HR personnel and Health Insurance benefits

  • Many firms include medical insurance and health insurance plans as part of their non-financial benefits. As an employee, having your medical care and medical bills covered by your company’s health insurance program is important. Whatever employees’ pre-existing