Income Insurance’s WorkMedic meets the mandatory requirement set out by Ministry of Manpower (MOM) for medical insurance requirements for migrant workers. Under Income Insurance’s enhanced WorkMedic Insurance, employers are required to purchase and maintain medical insurance for their foreign worker employees with at least $60,000 coverage per year. Income Insurance will pay up to a total amount of $15,000 of the total claims admissible under the policy per year and if the total claim admissible per year exceeded $15,000 it will be payable subject to 25% co-insurance.
We provide coverage for the following features that comply with MOM’s requirement for the enhanced medical insurance in 2 stages:
Stage 1 – New policies issued on and after 15 June 2023 or existing policies renewed or extended with effective date on and after 1 July 2023.
| Description |
Yes / No |
| Annual claim limit of at least $60,000, inclusive of a first-dollar cover of $15,000. | Yes |
| For portion of bill above $15,000, the employer must co-pay up to 25% (to the hospital). | Yes |
| Exclusions are in line with MOM’s list of allowable exclusions. | No |
| Age-differentiated premiums are in 2 age bands: (1) aged 50 and below and (2) aged above 50. | No |
| We will reimburse our portion of the hospital bill to hospitals directly upon admissibility of the medical claim. | No |
Stage 2 – New policies and renewal policies commencement date on or after 1 March 2025, WorkMedic provides coverage as follow that comply with MOM’s enhanced medical insurance requirements.
| Description | Yes / No |
| Annual claim limit of at least $60,000, inclusive of a first-dollar cover of $15,000. | Yes |
| For portion of bill above $15,000, the employer must co-pay up to 25% (to the hospital). | Yes |
| Exclusions are in line with MOM’s list of allowable exclusions. | Yes |
| Age-differentiated premiums are in 2 age bands: (1) aged 50 and below and (2) aged above 50. | Yes |
| We will reimburse our portion of the hospital bill to hospitals directly upon admissibility of the medical claim. | Yes |
