57% of insurers expect further increases in medical cost over the next three years.
Singapore’s insurers are raising co-pays and deductibles to encourage better cost management as medical costs are seen to rise 16.9% by 2026, WTW said in a report.
WTW added that employers may need to consider measures such as co-payment or co-insurance designs and flexible benefits programmes to help manage rising healthcare expenses.
The projected increase outpaces this year’s 15.5% increase, according to WTW’s 2026 Global Medical Trends report.
The firm said Asia-Pacific will record the highest medical cost inflation globally next year at 14%.
