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Inflation rate of S'pore worker health insurance in 2018: 10%

12 Jun 2019 09:00

By Ng Ren Jye

THE inflation rate of employee medical insurance claims in Singapore, at 10 per cent in 2018, is projected to rise another 0.1 percentage point this year, a study by Mercer Marsh Benefits has predicted.

Also termed "medical trend rate", the inflation rate of worker health insurance claims was slightly lower than the Asian average of 10.4 per cent.

Singapore's figure was the sixth highest out of 11 Asian economies surveyed.

Vietnam was top with a 14.5 per cent increase and neighbouring Malaysia rose 13.4 per cent. At the lowest end of the table was South Korea, where the medical trend rate went up by 6 per cent.

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Attachments: Source: Business Times

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