Topic: insurance

Singapore Productivity Loss Due to Sickness Absenteeism May Reach US$2.4 Billion by 2030

The aging workforce and medical cost inflation in Singapore are projected to drive up average medical costs per employee by 108% to S$1,973 per year in 2030, representing a mounting financial burden for employers, according to the “Aging Workforce: Cost and Productivity Challenges of Ill Health in Singapore” report released by Mercer and Marsh & McLennan Companies.