• Black Mountain Group

Healthcare costs for employees rise 9.6% in Hong Kong

According to a survey by Willis Towers Watson, companies in Asia Pacific faced escalating costs in providing healthcare benefits for employees. Key highlights of the survey are as follows:



- The survey interviewed 231 insurance companies in 79 countries/regions including Hong Kong 


- The costs for healthcare rose 7.8% globally last year, while the increase in Asia Pacific was 8.6% 


- The counties/regions in Asia Pacific with the highest increases in healthcare costs were: India (20.0%), Malaysia (15.0%), Indonesia (11.0%), Mainland China (10.3%), Hong Kong (9.6%) and the Philippines (9.6%) 


- The interviewees attributed the exorbitant healthcare costs to several factors including expensive hospital charges, high costs incurred by new medical technologies, proliferation of new medical services and healthcare providers being excessively profit-oriented 


- The three types of illnesses/diseases for which insurance companies received most compensation claims were cancers (82%), cardiovascular diseases (72%), and musculoskeletal/back pain (44%)

COMPANY

COMPLIANCE

PAYROLL MANAGEMENT

PEOPLE SERVICES

EMPLOYEE

BENEFITS

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