AIA’s move comes at a time when more initiatives to address mental health issues in Singapore are being implemented. PHOTO: ST FILE
SINGAPORE: Remote therapy is not new to Breanna Bay, who says she speaks to an offshore therapist about twice a year.
Bay, 24, who will start her new job at events firm CDI World soon, said she spends about S$240 a year on therapy. She said local sessions can cost anything from S$180 to S$300.
While Bay occasionally turns to therapy or counselling to cope, whether or not a prospective employer offers mental healthcare benefits is not a factor that would stop her from joining a company.
“I’m not a frequent user of mental health services, but I do know of people in my circle who would greatly benefit from this coverage as these services still tend to be quite expensive, with the price point being a barrier to entry for people who need these services,” she noted.
She added that having such coverage would help companies acknowledge that mental health issues are real and remove the stigma surrounding them. Bay is among those who are not afraid to seek help when needed.
Insurer AIA Singapore is expanding its corporate insurance coverage from 2025 in the light of the increased attention on mental health issues. A new feature will allow the actual costs of inpatient mental health treatment to be fully covered, up to the plan’s maximum limit, or as charged.
Other additional features include covering mobile inpatient care at home and allowing direct access to paediatric care without referral letters for those aged seven to 12. Part of the enhancement is also to allow accident and emergency outpatient coverage at government hospitals on an “as-charged” basis.
This means that more than 1.3 million employees covered under the firm’s group hospital and surgical insurance plan will have access to the enhanced benefits without additional premiums.
Local researchers said in a medical journal in April 2023 that the estimated total economic cost of productivity lost due to anxiety and depression in Singapore was S$15.7bil a year. — The Straits Times/ANN
