3 Reasons to Make the Switch from Reimbursement to Flexi-Benefits

Are you maximising your funds for employee benefits? Do you know that there is such a thing called flexi-benefits? If you know and are currently implementing this strategy, good for your company! Your employees will surely be thankful to be given the chance to personalise their health benefits. 

Now, if you have not heard of flexi-benefits or yet to implement it, you might want to reconsider. More and more companies are beginning to implement flexi-benefits as part of their employee benefits. A study done by Mercer in 2018 found that employees desire flexibility. Regardless of the kind of work flexibility, millennials look out for the freedom that a company is willing to offer.

Flexi-benefits have started to yield positive results for everyone in the company and demonstrate that the company values employees’ health and wellness. Think about this in the long run, would you want to have healthy and happy employees at work? If you want, read on to find out why you should change from being self-insured to having flexi-benefits.

#1 Stretch your benefits budget with corporate rates

As employers, you want the best of both worlds - affordable healthcare option and happy workers. However, companies could possibly continue to incur excessive costs each time an employee visits a clinic because of the lack of corporate rates. 

Due to the small company size of Small and Medium-Sized Enterprises (SMEs), many are unable to secure corporate consultation rates for their employees. As such, employees are expected to pay walk-in rates when they visit a doctor and then submit their full claims to HRs. 

By grouping SMEs, flexi-benefits providers can help companies secure corporate rates for their employees when they visit healthcare practitioners. For instance, with Mednefits, employees enjoy corporate rates for consultation at GP clinics, corporate discounts for dental, TCM, specialist and wellness services. This way, the company is able to stretch their budget and get more returns from their health benefits investment.

#2 Wider range of health benefits for employees

With the same budget, SMEs can provide a wider range of benefits. Take for instance, a company allocates $300 per employee for employee benefits. Because of the lack of corporate rates, employees can only afford 2 visits to the GP clinic and 1 visit to the dentist. However, with flexible benefits, companies get to maximise their investment in employee benefits. They can also offer employees a larger variety of services such as optical care and wellness classes in addition to the basic GP and dental visits.

The Employment Act currently mandates employers to provide paid sick leave and reimburse employee’s consultation fees. However, flexi-benefits schemes go beyond that and emphasise on allowing employees to be able to choose their own benefits.


Viewqwest currently partners with Mednefits to offer its employees MNC-level flexible healthcare benefits. In addition to basic employee benefits, Mednefits also offers subsidised rates when employees prefer TCM treatment or wellness services. ViewQwest employees are empowered to personalise their own healthcare experience and this motivates them to stay healthy. Flexi-benefits have helped to cater to the needs of those who are healthy and reward them for staying fit and healthy.

#3 Paperless claim submission

The self-insured or reimbursement model requires companies to allocate manpower to manually collate receipts from employees and track spending on claims. This adds burden to HRs who also have other matters to look into. 

If you work in HR, you will understand how much paperwork there is to look at every day. If it is possible to digitalise the claim process, who will not welcome it? Mednefits' employee benefits platform has automated the payment process at the clinics and approval of healthcare claims. 

In addition, employees can submit e-claims, whenever necessary, through their phone. For those who have gone to out-of-network clinics, they only need to take a picture of their receipt and submit the image through the app. This automated process speeds up approval rate and employees can check the status of their claims online too. 

These are a couple of reasons why you should consider making the switch to flexi-benefits if you are on the reimbursement model. You might also want to read more about the pros and cons of manual reimbursement here in Singapore.

About the Author

An SME Guide to Better Employee Benefits