Ravi Chandran
AXA Insurance introduces Better Me Business is a comprehensive employee benefits solution with holistic wellness services for Singapore’s SMEs and start-ups
AXA Insurance announced on August 3rd that it has launched Better Me Business, an employee benefits solution designed for small and medium-sized enterprises (SMEs) and start-ups in Singapore. It features a wide range of plan and rider options that cater to different coverage needs and budgets, and goes beyond medical benefits to include supplementary health and wellness services that can help boost employee satisfaction and productivity.
Better Me Business is part of the enhanced #BetterMe by AXA employee benefits proposition which supports businesses of all sizes and needs. SMEs and start-ups of any size can look to this solution for comprehensive employee benefits coverage as it does not come with any minimum group size requirement. Here’s an overview of what companies and their employees will get with Better Me Business:
- Comprehensive coverage without the constraints of sub-limits
Unlike many employee benefits offerings in the market which come with sub-limits for different benefits under inpatient coverage, Better Me Business provides coverage with annual policy limits. With this benefits structure, employees have greater certainty about how much of their medical bills will be covered if they have to undergo medical procedures, whether major or minor.
- A range of health and wellness services for employees
SMEs and start-ups will be empowered to support their employees’ health and well-being with additional benefits, that are more often associated with larger companies, such as a chronic disease management program, mental support through in-person or virtual consultations, fitness and wellness experiences at exclusive rates, and discounted health screening packages.
- An added layer of personalisation with the option for employees to enhance their coverage according to their needs
Companies may not be able to cater to the individual coverage needs of all their employees. With Better Me Business, employees who need more coverage have the flexibility of enhancing their company-provided insurance plan by increasing the level of coverage or adding on new coverage, such as critical illness insurance, personal accident insurance, general practitioner coverage, specialist coverage, and dental coverage.
- Convenience of accessing policy information and services through digital platforms
Through a one-stop HR portal, companies will be able to conveniently access their organisation’s policy details and manage it with greater visibility. They will be able to easily track claims and generate reports on the platform, which helps to reduce administrative work and increase efficiency.
Employees too will enjoy greater convenience with policy information available at their fingertips via the MyAXA app and portal, including personal policies they may have with AXA. They can also easily access a range of wellness services as well as file and track claims via MyAXA.
Julien Callard, Managing Director, Retail & Health, AXA Insurance said, “SMEs and start-ups are paying greater attention to their employees’ well-being. That’s why with Better Me Business, we want to better serve these enterprises by offering a comprehensive employee benefits solution which not only takes care of their employees’ health protection needs for peace of mind, but that can also help improve their physical and mental well-being. Companies who invest in the well-being of their employees can benefit from improved productivity and performance, and importantly build a stronger and more resilient workforce.”
Mr Paul Ho, chief officer at iCompareLoan, said: “Many of us take good health for granted and assume nothing will happen, like an accident, a major illness or disability. But when catastrophe strikes, private health insurance can help take away some of the worry of the cost of hospitalisation.”
“Towards this, AXA Insurance’s initiative with Better Me Business greater convenience to employees of small and medium enterprises,” he added.
You should check whether you are already covered under a private health insurance policy before buying a new one. Private health insurance give you peace of mind with hospital coverage, over and above what Medishield Life provides.
With hospitalisation coverage, you can claim up to the actual amount spent on your medical treatment. Typically, you cannot claim more even if you have more than one policy, as policies would reimburse you once for each medical expense. Lump-sum insurance policies, on the other hand, would typically pay out the benefit according to the sum assured.
Before you switch from one health insurance policy to another one with higher benefits, it is important to consider the state of your health. A new policy may not provide coverage for any conditions you may have developed since you took up the previous policy. It is good practice to check with your financial adviser or insurance agent, in case of doubt.
How do I get a quick quote for private health insurance?
Are you searching for an appropriate private health insurance? Then you should speak to insurance specialists can set you up on a path that can get you the best health insurance policy in a quick and seamless manner. Most of them are just an email away.
Mr Ho said, “besides proper insurance coverage, small businesses especially, must ensure that they have enough money to help in the cashflow. To help them with this, they should consider getting the best SME loans.”
“Remember that you must apply for the SME loan when you don’t need the money, because when you really need it, you may not get it,” he added.
