HRSINGAPORE Community Discussions
Implementing Flexible Benefits
Does your company offer flexi benefits? If so, how much is the yearly entitlement and what can it be used for? Do you extend it to expats as well?
Our employees are granted $600 flexible benefit, with which they are to manage, among others, their out-patient (GP) medical expenses.
My current company gives outpatient flexi benefits (annual limit):-
Married w/o Children: $1200
Married w Children: $1500
· Fertility Treatment
· Health Screenings
· Medication with GP prescription
· Outpatient clinical GP
· Outpatient clinical specialists
My current employer grants medical benefit to staff and their immediate dependents (spouse and children under 18) with below conditions:
1. Out-Patient Case: 80% reimbursement (excluded for dental, vision and vitamins)
2. In-Patient/ Hospitalized Case: 100% reimbursement (no ceiling limit regardless of the disease)
My ex-company gives the below flex-benefits, capped at annual limit S$1000.
All are eligible to employees and their dependents.
· Outpatient / Specialist not under panel
· Optical (must be approved with prescription / computer lenses)
· Personal Insurance Premium (extendable as well to parents). Personal travel insurance is also eligible
· Fitness membership (membership / course fee only / marathon, etc).
I would like to ride on this post to ask how do you manage the yearly limit of the flexi benefit?
Do you give them the lump sum at the beginning of the year or as and when they spend, they get reimburse by producing receipts and HRs will keep track of the expenses?