This is one of the key finding of this report, a collaboration between Marsh & McLennan Insights and Mercer. Analyses of Mercer’s medical claims data from Singapore reveal that medical costs could reach up to S$1,973/employee by 2030, with productivity loss due to sickness absenteeism, amounting to S$3.3 billion (~1% of GDP).
The report also shows that 60% of medical claim costs arise from 10% of claimants, highlighting the potential value of interventions especially among high-risk groups, such as health and wellness programs to reduce the incidence of disease, and screening for earlier detection of disease. These are parts of a larger suite of solutions to mitigate the higher costs of ill health and capitalize on the productivity of an older and potentially shrinking workforce.
