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What is Foreign Worker Health Insurance
FWHI
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FWMI protects foreign workers from high medical costs and ensures they receive prompt medical care.
WICA vs FWHI
FWHI (Foreign Worker Health Insurance) and WICA (Work Injury Compensation Act) are two distinct types of insurance in Singapore, each serving different purposes:
FWHI (Foreign Worker Health Insurance)
Coverage: Provides medical coverage for non-work-related illnesses and injuries for foreign workers on Work Permits and S Passes.
Purpose: To manage medical expenses and ensure the well-being of foreign workers, reducing the financial burden on employers.
Mandatory: Employers must purchase insurance with a minimum annual coverage of $60,000 per worker.
WICA (Work Injury Compensation Act)
Coverage: Covers work-related injuries, illnesses, and occupational diseases for all employees, both local and foreign, under a contract of service or apprenticeship.
Purpose: To compensate employees for work-related incidents without the need to prove fault, simplifying the claims process.
Claims: Employees can claim for medical leave wages, medical expenses, and lump sum compensation for permanent incapacity or death.
In summary, FWHI focuses on non-work-related medical expenses for foreign workers, while WICA provides compensation for work-related injuries and illnesses for all employees.
What Does FWHI Cover
Coverage
FWMI covers medical expenses for illnesses, injuries, or accidents that are not work-related. This includes inpatient hospital expenses, day surgery, and outpatient clinical coverage.
Hospitalisation and Surgery (H&S) fees
Pre-hospitalisation specialist consultants
Pre-hospitalisation diagnostic scans (X-Rays, MRIs, etc.)
Repatriation of body in event of death
Post-hospitalisation fees
Intensive Care Unit (ICU) fees
Lump-sum personal accident benefit in case of severe disability, or death
Why FWHI Is Important For SME
Foreign Worker Health Insurance (FWHI) is crucial for SMEs (Small and Medium-sized Enterprises) for several reasons:
Financial Protection: FWHI helps SMEs manage the financial risks associated with medical expenses for foreign workers, reducing unexpected costs due to accidents or illnesses.
Compliance: Having FWHI ensures that SMEs comply with legal requirements, avoiding penalties and maintaining good standing with regulatory authorities.
Employee Well-being: Providing health insurance demonstrates a commitment to the well-being of foreign workers, which can improve morale, productivity, and retention.
Risk Management: FWHI mitigates the risk of large, unforeseen medical expenses that could impact the financial stability of the business.
Reputation: Offering comprehensive health coverage can enhance the company's reputation as a responsible and caring employer, attracting and retaining talent.
How Can We Help
Ensuring Legal Compliance
Regulation Guidance: Consultants monitor labor and immigration laws, ensuring SME compliance with FWHI requirements to avoid penalties.
Policy Implementation: We assist in implementing FWHI policies aligned with legal standards and frameworks.
Cost Optimization
Plan Comparison: Consultants analyze and compare insurance providers and plans to find the most cost-effective solutions that meet the SME’s needs.
Customization: They can negotiate with insurers to customize plans, ensuring adequate coverage without overpaying for unnecessary features.
Expense Forecasting: Consultants can provide insights on future costs and help SMEs budget more effectively.
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