AIA Singapore has expanded coverage for mental health care for corporate insurance policies starting in 2025.
AIA Singapore said it will be the first in market to expand inpatient plans to automatically include inpatient mental care. This will mean that the actual costs of inpatient mental health treatments will be fully covered, up to the plan’s maximum limit.
It said that by treating mental health with the same importance as any other health condition, it aimed to reduce the stigma surrounding mental health.
AIS Singapore said: “As the first insurer in Singapore to offer mental health coverage with the launch of AIA Beyond Critical Care8 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.”
With more than half (59%) of Singaporean consumers expressing a need or potential need for additional resources and support for mental wellness, AIA Singapore said it aims to bridge this gap with the upcoming policy enhancements.
Nearly one in two (44%) Singaporeans experience mental health struggles.
Some six in 10 (58%) Singaporean consumers feel that there is stigma towards mental health.
AIA said Singaporean consumers identify affordability (66%), accessibility (53%), and presence of workplace initiatives (51%) as essential.
Other upcoming enhancements include other benefits to provide more accessible and inclusive support for its corporate customers, at no additional premiums.
The improved coverage is expected to benefit approximately one-third of Singapore’s workforce.
AIA said businesses also face considerable repercussions from poor employee mental health, with productivity losses reaching up to 40% among those struggling with mental health issues.
With no changes to the premiums, other key corporate policy enhancements to be introduced from January 2025 onwards are targeted at improving holistic wellbeing, 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
Kenneth Tan, chief corporate solutions officer at AIA Singapore, said: “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, 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.
“As the evolving needs of Singapore’s workforce and enterprises continue to surface, AIA Singapore is steadfast in transcending traditional insurance offerings by delivering accessible and holistic support aimed at safeguarding physical, social, mental and financial well-being.
“These forthcoming corporate insurance policy enhancements underscore AIA Singapore’s unwavering commitment to crafting flexible, insight-driven solutions that partners employees on their journey to live healthier, longer, better lives.”