One in two companies already adopted cost-containment measures.
Eighty-eight percent of Hong Kong employers are concerned about rising medical costs, according to a report by global professional services firms, Mercer and Marsh. Most of the companies bear full premium costs for employee benefits for both medical and risk. Compared to 2015, the costs of both medical and risk benefits increased as a percentage of annual payroll.
"With regard to rising medical costs, 55% of companies have adopted cost-containment measures. The most popular measure adopted by employers is implementation of a panel arrangement (34% from 32% in 2015), followed by providing wellness programs. An increased percentage of respondents implemented a cost-sharing arrangement with employees, while there was a significant drop in the percentage of respondents (37% from 47% in 2015) adopting remarketing," the report said.
Do you know more about this story? Contact us anonymously through this link.