Ensuring a healthy and satisfied workforce is crucial for any business. At David Ho, we provide tailored employee insurance solutions in Singapore, focusing on comprehensive medical benefits that enhance employee well-being and productivity.
Company insurance for employees (often called Employee Benefits) is an employer-sponsored protection plan designed to support your staff’s physical and financial health. While many businesses start with basic medical benefits, a robust corporate insurance strategy in Singapore typically includes three core pillars:
Well-structured employee insurance plans reduce the financial burden on your staff and ensure they have timely access to care, directly reducing turnover and absenteeism.
In Singapore, employers operate within a regulatory framework set by the Ministry of Manpower (MOM) and the Central Provident Fund (CPF) Board. Everything above that floor is where employer differentiation begins, and where our team’s advisory role adds the most value.
1. CPF Contributions
All Singapore Citizens and Permanent Residents (from their third year of PR status) are entitled to CPF contributions from their employer, provided they earn above the qualifying wage threshold. Contribution rates step up progressively as employees get older, under a schedule that has been raising senior-worker rates each January since 2022:
| Employee Age | Employer CPF Contribution Rate |
|---|---|
| Up to 55 | 17% |
| Above 55–60 | 16% |
| Above 60–65 | 12.5% |
| Above 65–70 | 9% |
| Above 70 | 7.5% |
These rates are subject to change. Refer to the CPF Board for the most current figures, including the Ordinary Wage ceiling and Additional Wage ceiling that determine the maximum contribution base.
CPF covers retirement savings and Medisave contributions. It does not replace medical or life coverage in the workplace.
2. MOM Leave Entitlements Contributions
MOM mandates specific leave entitlements for employees who have completed at least three months of service. Statutory leave entitlements under the Employment Act include:
Leave is a legal entitlement, not a benefit. Employers cannot use statutory leave as a differentiator when competing for talent.
3. WICA (Work Injury Compensation Act) Contributions
WICA applies to manual workers and non-manual employees earning no more than $2,600 per month in basic salary. It provides:
A common misconception is that WICA is the same as group health insurance; however, WICA only covers incidents directly related to work. It provides no coverage for illness, hospitalisation, or injury that occurs outside of work. A full breakdown of WICA insurance and compliance requirements is available on our WICA insurance page.
The legal minimums keep your business compliant, but they do not cover the everyday health and wellness needs of your employees. The gaps include:
Meeting the legal minimum is just the starting point. At David Ho, our team help Singapore employers design the voluntary benefits layer that attracts talent, reduces turnover, and is calibrated to your specific headcount, industry, and budget.
Premiums for group insurance are not publicly listed and vary widely by insurer, group size, claims history, and coverage tier. Most HR managers have no external reference point when entering a renewal discussion. Our brokerage experience across multiple client portfolios provides the market-level view that a single employer cannot have.
| Company Size | Typical Coverage | Estimated Premium Range (per employee per year) |
| 5–19 employees (micro) | Group Hospitalisation & Surgical (GHS) only | $300 – $600 |
| 20–50 employees (small SME) | GHS + GMM + outpatient | $600 – $1,100 |
| 51–200 employees (mid-market) | GHS + GMM + outpatient + GPA + GTL | $1,200 – $2,000 |
| 200+ employees | Full suite including flexible benefits | $1500 – $3,000+ |
At the micro end, insurer appetite is limited and plans are largely pre-packaged. As headcount grows, bespoke underwriting becomes available and dental/optical riders become more common.
| Industry | Typical Profile | Estimated Premium Range (per employee per year, pepy) |
| Tech / SaaS startups | Higher outpatient and mental wellness demand; flexi-ben and dental increasingly standard to stay competitive with MNC packages | $1,000 – $1,600 |
| F&B / Retail / Hospitality | Higher proportion of manual workers; GHS typically basic; high staff turnover affects plan design | $400 – $800 |
| Financial services / Professional services | GHS with private ward class, specialist riders, life cover at 2–3× annual salary | $1,500 – $2,500 |
| Construction / Logistics | WICA compliance is the primary layer; GPA is standard; medical benefits are typically straightforward | $500 – $900 |
Several key factors influence your final group insurance premium:
These figures are informed by our direct experience in structuring and renewing plans across dozens of client groups in Singapore. Your actual premium will vary, but understanding the market range means you enter renewal negotiations with a benchmark, not just a quote.
Traditional group insurance gives every employee the same plan. A 28-year-old single employee and a 45-year-old parent of three receive identical coverage, regardless of what each person actually values or uses. Flexible benefits solve this by allocating each employee a credits-based budget to spend across the coverage categories they actually value.
The structure is straightforward. Each year, the employer sets a credit allowance per employee, and staff allocate that budget across a pre-approved menu of benefits.
Flexible benefits address four challenges SMEs consistently face, including cost control, perceived value, and HR bandwidth.
Traditional flexible benefits involve paper receipts, manual reimbursement, and significant HR overhead. EasyClaims digitises the entire workflow.
The result is a significant reduction in the time your HR team spends on benefits administration. Visit our dedicated flexible benefits service to learn more.
Flexible benefits work best for companies with 20 or more employees and a workforce with diverse demographics, life stages, and needs. Companies with a uniform age profile and similar life stages across the workforce typically get equal value from a standard group plan.
If you are considering flexible benefits for the first time, setup and rollout communication matter. David Ho’s team supports the entire implementation, from plan design to employee briefings.
David Ho is a MAS-licensed independent insurance broker operating since 2011, with over 15 years of experience structuring employee benefits for Singapore companies.
We have worked with more than hundreds corporate clients and currently cover over thousands employee lives across Singapore. Our experience spans SME, MNC, and startup environments within industries including technology, financial services, logistics, and F&B. Our panel includes more than 30 over licensed insurers in Singapore, so your plan is benchmarked against the full market, not a single insurer’s catalogue.
We are recognised as a Top Insurance Broker from 2019 to 2025 and certified by the Institute for Human Resource Professionals (IHRP). Your dedicated team at David Ho manages your renewal, handles claims correspondence, and reviews your coverage as your workforce changes.
The foundation of any plan. Covers room & board, ICU, and surgical fees.
24/7 worldwide coverage for accidents, permanent disability, and accidental death.
Provides financial security for an employee’s family in the event of death or total permanent disability.
Allows employees to “”spend”” credits on what they need most—whether it’s gym memberships, dental care, or extra insurance.
By making insurance clear, accessible, and practical, we turn a staff benefit into something employees genuinely value — and a strategic tool for your company to retain talent and strengthen engagement.
From the first consultation, we take time to listen to your challenges, gather employee feedback, and design an employee insurance plan that aligns with both your workforce needs and business goals.
Our role continues well beyond policy setup. We provide ongoing advice, assist with claims, and share regular updates on industry and regulatory changes to keep your employee benefits insurance coverage relevant and effective.
To ensure employees fully appreciate the value of their benefits, we also run education sessions that explain how to use their coverage confidently.
We see ourselves not just as brokers, but as partners to your HR and Finance teams.
As a top employee benefits insurance broker, we work with leading insurers to secure competitive premiums without compromising on quality.
Our network of healthcare providers ensures employees have access to top hospitals, clinics, and specialists across Singapore.
For businesses, this means more than affordable premiums. It means peace of mind that your benefits are sustainable, comprehensive, and designed to protect both your employees and your organization’s future.
A step-by-step overview
At David Ho Insurance, we specialise in creating customised employee benefits programs that meet the unique needs of your organisation. Our proven process ensures a seamless transition from consultation to implementation.
We start with an in-depth conversation to understand your unique needs and goals.
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Benchmarks, policy review, comparison & renewal analysis – all done for you!
One stop shop for all of your insurance needs
Your questions answered about our insurance services and how we can assist you.
Employers must buy Work Injury Compensation (WIC) insurance for all manual employees and non-manual employees earning $2,600 or less in basic monthly salary, since this is a legal requirement under the Work Injury Compensation Act. Employers must also buy medical insurance covering at least $60,000 for every Work Permit and S Pass holder, and this cost generally cannot be passed on to the worker. Beyond these two categories, broad employee medical insurance is not legally compulsory.
Costs vary based on coverage depth and workforce age. A basic plan covering GP and Hospitalization can start from $300 – $800 per employee per year. Comprehensive plans with dental and life coverage will range higher. We help you benchmark these costs against your industry.
WICA covers most employees under a contract of service for work-related injuries and diseases, regardless of salary, age, or citizenship, although employers are only legally required to insure manual workers and non-manual staff earning $2,600 or less. Company insurance, such as group medical or life cover, is a separate and broader layer that covers non-work-related illnesses, such as flu, cancer, or dengue, and accidents outside of work hours, depending on the specific policy.
Yes. Most insurers in Singapore offer group plans for companies with as few as 1 to 5 employees, with no medical underwriting required for some. Standard StartUp/SME options keep premiums predictable and administration simple, making them a practical starting point for start ups or small businesses setting up employee benefits for the first time.
An employee benefits insurance broker compares plans across multiple insurers, which a tied agent cannot do. Your company gets a policy benchmarked against the market, not just the options one insurer offers. Beyond pricing, a broker handles renewal negotiations, claims support, and policy adjustments during the year, freeing your HR and finance teams from administration. In Singapore, group insurance plans vary widely in coverage scope and claims processes. Having an independent broker review your options regularly can reduce costs, catch coverage gaps, and keep your plan competitive as your workforce grows or changes.
Standard employee benefits insurance coverage typically includes Inpatient (Hospital & Surgery), Outpatient (GP & Specialist), and sometimes Dental. We can also add Group Term Life to ensure comprehensive protection for your workforce.
Not by default. Most standard group plans cover employees only, but many insurers let companies add an optional extension for spouses and children, with the cost usually split between employer and employee. Check with your broker whether your insurer supports this before signing up.
At panel clinics and hospitals, employees usually don’t need to file a claim. The provider bills the insurer directly, so there’s no upfront payment. For non-panel providers, employees pay first and submit receipts with a claim form, with reimbursement usually taking a few weeks. Through David Ho’s EasyClaims platform, employees can also submit and track claims online, with HR approving them through a shared dashboard.
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