CCRM Group Medical COMBO Plan: Addressing The High Premium Conundrum

Today’s Business Dilemma

Rising operating costs are a big concern for businesses, particularly the small and medium-sized enterprises (SMEs). It’s seen as one of the biggest challenges yet in recent years which has forced many businesses to take the cautious route to their overall operations. But trying to maintain a balancing act between remaining profitable and keeping costs low can often be a double-edged sword.

While cost-cutting exercises can help drive favourable outcomes, it also has potential long-term drawbacks if not dealt with meticulously. Some of the unfavourable consequences faced by companies in this instance are drop in products / service quality, deteriorating customer / after sales servicing, and, one of the toughest blows to recover from taking into account the competitive nature of today’s business environment…the loss of talented personnel.

Employees as one of the most important asset for companies

While a company can seek to introduce many staff retention measures to make up for their cost containment approach, it is worth noting that for many employees, their overall wellbeing as a member of an organisation remains one of their biggest concerns, aside from salaries, perks and promotions. This creates a dilemma for businesses in trying to manage costs without compromising employee satisfaction, particularly where health benefits are concerned.

Company group hospital & surgical cost at different employee health insurance life stages
Company group hospital & surgical cost at different employee health insurance life stages

Increasing medical and pharmaceutical costs, rising hospital care charges, spike in illnesses caused by unhealthy lifestyle and environmental degradation are among the key drivers of high medical inflation rates these days. This has created a headache of sorts for businesses trying to keep their employee health insurance costs down without causing a dent in staff welfare which could trigger a chain of dissatisfaction.

So, what are the options on the table for consideration?

The Best Doesn’t Cost A Bomb!

After thoroughly studying the market, understanding the pain points of businesses and carefully balancing their needs and those of their employees, Cheng & Co Risk Management (CCRM) has identified an appropriate business solution for corporate clients to enhance their employee benefits scheme for key talents – the Group Hospitalisation & Surgical + Group Medisecure Plus, better known as the Group Medical COMBO Plan.

The Group Medical COMBO Plan, in effect, addresses a company’s concerns about high yearly premiums and providing adequate coverage for its key employees. This, in turn, makes the company an attractive option during the recruitment process, and increases their chances of retaining precious talent. The Group Medical COMBO Plan provides high annual limit coverage for employees and also the portability feature for staff to continue being protected upon retirement.

CCRM group medical combo plan for effective management of companies health insurance progamme
CCRM group medical combo plan for effective management of companies health insurance progamme

We Got You Covered!

Many group medical insurance premiums increase through the years disproportionately. As employees grow older and work pressure increases, health concerns too rise particularly due to lifestyle choices as well as difficulties in stress management. The greater the medical claims, the likely the premium increases. There are instances of extremely high claims swallowing employees’ annual limits, leaving them to bear the additional costs.

CCRM’s Group Medical COMBO Plan, underwritten by Lonpac Insurance Berhad, helps companies deal with the challenge of managing their annual group medical premiums as it provides a cost-effective retention plan for their valued employees. From a human resource point of view, the process will be a little less tedious when looking into employees on the verge of retirement and if they can go on to enjoy the medical coverage benefits post-retirement.


Want to know how the Group Medical COMBO Plan can help your organisation? Please call us at +603 7984 8988 and we will guide you accordingly.


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