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Asia Pacific Employer Medical Benefit Costs to Grow 8.2 Percent in 2022: Aon Survey

  • The 2022 Medical Trend Rate for Asia Pacific is up slightly compared to last year’s 8.0 percent and remains above general price inflation
  • In the past year, utilisation of outpatient services dropped the most in Asia Pacific due to COVID-19 pandemic-related movement restrictions
  • Global health benefit costs to rise 7.4 percent as medical utilisation returns to pre-COVID-19 pandemic levels

SINGAPORE – Media OutReach – 25 October 2021 – Employer-provided medical benefit costs in Asia Pacific are forecasted to rise 8.2 percent in 2022, outpacing general inflation by 5.8 percent, according to the 2022 Global Medical Trend Rates Report recently released by Aon plc (NYSE: AON), a leading global professional services firm.  

 

The utilisation of medical plans has recovered from a low in April 2020 and is expected to exceed pre-COVID-19 pandemic levels during 2022 as pandemic-related movement restrictions are further eased. This, combined with rising inflationary pressures and an expectation that more of the cost of COVID-19 healthcare will transition to the private sector, is increasing cost expectations.

 

Tim Dwyer, Head of Health Solutions, Asia Pacific, Aon said, “The pandemic caused overall lower utilisation levels in 2020, which provided plan sponsors with some respite. However, the dual effect of higher expected utilisation and inflationary pressures presents new cost challenges that need to be managed. The normalisation in utilisation patterns, emerging risks such as mental and musculoskeletal health and the potential for a greater COVID-19 cost burden to fall on the private sector will require employers to carefully analyse their medical plans as cost pressures increase over the next two renewal cycles.”

 

According to the report, over the last year there has been a significant increase in musculoskeletal conditions likely brought about by increased work-from-home arrangements. Furthermore, medication-related expenses have experienced some of the largest inflationary increases. However, outpatient upper respiratory tract infection claims were significantly lower than previous years, but these are expected to recover during 2022 as social distancing and movement restrictions are lifted.

 

“The good news is that there are plan design and behavioural interventions available to mitigate the cost increases. The route will be uncertain and will vary by country, so it is important that companies use data and insights to make better informed decisions to secure commercial protections at their renewals to deal with the volatility,” Dwyer added.

 

Globally, costs for employer-sponsored medical plans in 2022 are forecasted to increase 7.4 percent, though projected medical trend rates vary significantly by region. Costs are expected to increase the most in the Middle East & Africa, with average medical trend rates forecasted at 11.1 percent. In contrast, Europe is projected to see the lowest average medical premium rate increase, at 5.6 percent.

 

Forecasted Health Care Benefit Cost Growth from 2021 to 2022

2021

2022

Global

7.2%

7.4%

Asia Pacific

8.0%

8.2%

Europe

5.5%

5.6%

Latin America & Caribbean

8.8%

10.6%

Middle East & Africa

12.0%

11.1%

North America

7.0%

6.6%

 

Forecasted Health Care Benefit Cost Growth from 2021 to 2022 for Select Countries in Asia Pacific

2021

2022

Australia

2.5%

3.1%

China

7.0%

7.0%

Hong Kong

5.3%

5.6%

India

9.0%

13.0%

Indonesia

13.0%

12.2%

Japan

0.0%

0.0%

Malaysia

14.0%

12.0%

Philippines

8.0%

8.0%

Singapore

7.0%

7.0%

South Korea

7.5%

8.0%

Thailand

6.6%

11.7%

Vietnam

8.7%

5.5%

 

Aon’s report confirms the increasing impact of non-communicable diseases on health care costs globally. In Asia Pacific, Cardiovascular disease, Cancer/Tumor Growth, ENT/Lung Disorder/Respiratory, Diabetes and Musculoskeletal/Back were the most prevalent health conditions driving health care claims.

 

Leading Medical Conditions in Asia Pacific and the World Driving Medical Claims Experience

Asia Pacific

Global

1)

Cardiovascular disease

Cardiovascular disease

2)

Cancer/Tumor Growth

Cancer/Tumor Growth

3)

ENT/Lung Disorder/Respiratory disorder

High Blood Pressure/Hypertension

4)

Diabetes

Diabetes

5)

Musculoskeletal/Back

ENT/Lung Disorder/Respiratory disorder

 

The report also confirms the growing prevalence of modifiable risk factors from unhealthy personal habits in Asia Pacific, such as High Blood Pressure, Physical Inactivity, Poor Stress Management, High Cholesterol and Ageing, which directly contribute to the emergence of non-communicable disease.

 

Leading Health Risk Factors in Asia Pacific and the World

Asia Pacific

Global

1)

High Blood Pressure

High Blood Pressure

2)

Physical Inactivity

Physical Inactivity

3)

Poor Stress Management

Poor Stress Management

4)

High Cholesterol

Bad Nutrition

5)

Ageing

High Cholesterol

 

“Insurers have responded to emerging needs created by the pandemic by delivering virtual consultations, prescription delivery and support for employee physical and mental wellbeing. While these services are likely to introduce short-term cost pressures, they should – over time – have a controlling effect on medical trend rates,” said Alan Oates, Principal and Actuary, Asia Pacific, Health Solutions at Aon. “As we emerge from the pandemic, employee wellbeing is now, more than ever, critical to controlling costs and boosting organisational productivity, to build a more resilient workforce. Careful analysis of medical claims and population risk factors can target interventions that modify behaviours to reduce the incidence of non-communicable disease. Employers, both large and small, can take immediate action in this area.”

 

To view the report, visit https://insights-north-america.aon.com/research/2021-global-medical-trend-rates-report.

 

Methodology

The survey was conducted among 108 Aon offices, each one representative of a country that broker, administer or otherwise advise on employer-sponsored medical plans. The survey responses reflect the medical trend expectations of the Aon professionals based on their interactions with clients and insurance carriers represented in each country.

 

About Aon

Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.

Follow Aon on Twitter and LinkedIn. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here.

#Aon

Flint Ideas advocates the unique concept of “Uniform Fashion”

HONG KONG SAR – Media OutReach – 25 October 2021 – Nowadays, many uniforms are still very traditional, which are visually unattractive and outdated. ‘Flint Ideas’- a shirt-printing & uniform customization Company, understands that visually unappealing uniforms could affect the mentality of many workers, thereby reducing work efficiency and service quality.

 

In this regard, the local creative uniform company- Flint Ideas, with the motto of ‘More than just a Uniform’, is committed to creating uniform fashion lines that bring out strong brand images. The company has launched the service of uniform fashion design, to create uniforms that are fashionable and visually appealing. The visual of the uniform is very important to many businesses since the appropriate uniform fashion helps to create a strong brand image, which would then enhance work confidence and efficiency.

 

Nowadays, Uniform Fashion has increasingly attracted more attention in Western countries. In addition, the green uniforms of the characters in the popular Korean drama ‘Squid Game’, have become the highlight of many discussions. The Uniform & shirt wear fashion design team of Flint Ideas has taken inspiration from the fashion design of the popular drama, to promote the concept of visually attractive and comfortable uniform and t-shirt wear fashion.

 

About “Flint Ideas”

“Flint Ideas” is one of the most professional uniform and t-shirt printing companies in Hong Kong. The company has a team of dedicated and passionate staff from various departments, such as the sales department, design department, purchasing department, and production department. With excellent management, the company provides high-quality uniform design services for each of their customers, with a wide range of products that range from team shirts, pant shirts, team jackets, wind jackets, sweatshirts, printed t-shirts, and uniforms.

“Flint Ideas” has its factories of modern production lines and technical equipment in Dongguan and Huizhou in China. The quality of their products has always fulfilled each requirement of their customers, given that the production of their shirts, team shirts, and uniforms, has undergone strict quality control procedures. “Flint Ideas” has always insisted on exquisite craftsmanship, affordable prices, and professional services. Therefore, the company has gained the trust and support of its customers, thanks to the good reputation from various schools, uniform teams, and many commercial organizations.

#FlintIdeas

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Job Opportunities in Q3 2021 Up 21% from 2020: Michael Page Singapore

SINGAPORE – Media OutReach – 25 October 2021 – Global recruitment specialists Michael Page Singapore witnessed the number of jobs rise in Q3 2021 compared to Q3 2020 by 21%. According to job opportunity data observed by Michael Page, this was led by growth in job opportunities across certain key sectors from last year namely Engineering & Manufacturing (up 48%), Digital (up 27%) and Technology (up 17%). 



Nilay Khandelwal, Managing Director of Michael Page Singapore

Speaking from recent observations, Nilay Khandelwal, Managing Director of Michael Page Singapore says, “These optimistic figures are indicative of the market conditions in Singapore improving and will continue to hold ground because we foresee various industries to be on the rise. Companies have recognised that securing the right talent is what will give them the competitive edge. In order to do so, a number have a clear indication of what skills they require and have adopted a good attraction strategy which goes beyond just high salaries.”

As Singapore remains an ideal strategic digital location from both an infrastructure and talent standpoint, the highest demand in this space are for digital product managers which combine a unique set of skills. Driving the job opportunities up 27% from Q3 2020, Nilay Khandelwal observes, “These special profiles are the most talked about and consists of people who are either existing product managers or product engineers or in some cases have been moved into digital roles from an existing marketing function. They are the brains behind the digital product and will act as a bridge between business and technical engineers working on product development. Product design roles have also seen a steady demand especially in the UI/UX area.” 


Job positions in Engineering & Manufacturing almost doubled this year, up 48% as companies in Singapore align with the nation’s industry 4.0 initiatives and actively hire in the automation and digitalisation functions. This is to increase productivity and aid with the labour shortage challenges.

 

“The job types most requested for within the engineering & manufacturing space are in the automation, digitalisation, technical or pre-sales as well as R&D functions. This is observed across various sectors including chemical, building materials and industrial automation to capitalise on the upward market trend this year,” comments Nilay Khandelwal.

Source: Figures procured from Michael Page Singapore’s proprietary data 

 

Standout in Marketing Job Opportunities with Increase of 45% in Q3 2021 from 2020: Michael Page Malaysia

KUALA LUMPUR, MALAYSIA – Media OutReach – 25 October 2021 – Global recruitment specialists Michael Page Malaysia witnessed increased job opportunities in some sectors in Q3 2021 compared with 2020. According to job opportunity data shared by Michael Page, this was observed with growth in opportunities within the Marketing (up 45%) and Engineering & Manufacturing (up 22%) sectors. Overall the country saw an 18% rise in the number of job opportunities from last year.

Paul Cooper, Managing Director of Michael Page Malaysia, Thailand and Vietnam

 

Paul Cooper, Managing Director of Michael Page Malaysia, Thailand and Vietnam observes, “Marketing in Malaysia’s B2C space is really driving the demand for these professionals as organisations are trying to engage directly with their customers. The pandemic brought about massive changes in consumer patterns and the leading players want to establish a direct link with their customer and decrease their reliance on third party e-commerce platforms.”

 

This has created a demand for digital marketing, data analysts and product managers who can secure customer engagement through relevant influencers and open new online marketplaces for brands.

 

Similarly, job opportunities for Malaysian professionals within Engineering & Manufacturing have seen healthy growth (up 22%) from 2020. “This is particularly driven by the global demand for semiconductors and microchips created by the increased volume in consumer electronics production. Factories in Malaysia are pressured to maximise their output which has in turn led to demand for specialists in semiconductor manufacturing,” comments Paul Cooper.

 

Another contributing factor are investments in the healthcare industry which was ramped up manufacturing within pharmaceuticals and medical devices. This was a strong industry for Malaysia before the pandemic and is currently earmarked for even more growth, thus creating more jobs.

 

While jobs are on the increase, the current employment demands in the Malaysian market are challenged by a limited talent pool and skills shortage. This has increased the opportunities for specialist contractors as a viable solution for businesses to manage their talent work flow. An increased number of companies are utilising Malaysia’s growing contracting workforce to stay agile, keep their existing up to date and close any skill gaps within.

 

Source: Information procured from Michael Page Malaysia’s proprietary data

Job Opportunities Up 13% in Q3 2021 from Q2: Michael Page Philippines

MANILA, PHILIPPINES – Media OutReach – 25 October 2021 – Global recruitment specialists Michael Page Philippines witnessed the number of job opportunities rise in Q3 2021 compared to Q2 with an overall 13% increase. According to job opportunity data shared by Michael Page, growth was also noted within sectors such as Technology (up 37%), Engineering & Manufacturing (up 32%) and Finance (up 10%).

Albert Pérez, Regional Director of Michael Page Philippines

 

Based out of the Manila office, Albert Pérez, Regional Director of Michael Page Philippines observes, “Companies in the Philippines have adapted to the pandemic and are going ahead with their previously-paused business plans. These roles are for business-critical positions at the middle to top management level. In these uncertain times, strong business leadership is required to drive organisational change and grow as more have to manage transformation brought about by the pandemic.” 

This has created healthy job opportunities in the technology space, up 37% in Q3 from Q2. “Both Filipino companies and large multinationals have increased their investment into the Philippines which has brought about waves of digital transformation. As more companies focus on data and analytics to drive decision making, new technology profiles have been introduced into the market as well,” comments Albert Pérez.  

We see a strong demand for technology professionals at all levels where companies have adjusted to the rapidly evolving business landscape, often needing to bring in external skills sets to accelerate digital upgrades. The economic demands have also increased the need for technology experts with specific field experience such as workplace IT managers who are solely responsible for implementing a complete remote work set up or digital product managers with a UI/UX focus.

Similarly, job opportunities in Engineering & Manufacturing have seen an 32% increase as consumer demands drives factory production. While the Philippines was traditionally strong in producing within the FMCG space, the manufacturing industry has expanded to include electronics and luxury goods.

“The popularity of e-commerce has driven the consumer demand and placed pressure on companies to deliver at a faster rate. This has led to roles in production and project management as well as engineering, operations and procurement,” comments Albert Pérez.  


Source: Michael Page Philippines’ proprietary data 

The Hong Kong Institute of Surveyors Quantity Surveying Division Conference 2021

Explored challenges and prospects of quantity surveying industry and forged practical solutions

HONG KONG SAR – Media OutReach – 23 October 2021 – The Hong Kong Institute of Surveyors (HKIS) Quantity Surveying Division hosted the HKIS Quantity Surveying Division Conference 2021 at the HKIS Surveyors Learning Centre today. Themed “Forging Ahead: Practical Solutions in Quantity Surveying” this year, the Conference gathered government office heads, business leaders, experts and scholars to share insights on the prospects of the quantity surveying industry. Ms HO Wing Yin, Winnie, JP, Director of Architectural Services, Architectural Services Department of the HKSAR Government attended the Conference as its Guest of Honour. Delivered both online and offline, the Conference drew a participation of over 300 industry professionals today.

 

Quantity Surveying Division is one of the six divisions of the HKIS and with the largest number of members. The division has adhered to the spirit of excellence for many years. Attributed to having been trained as construction cost consultants, the members are equipped with the expert knowledge of costs, values, finance, contractual arrangements and legal matters in the construction field. In order to provide comprehensive services to society, the service areas also extend from building projects in the past, to civil engineering, mechanical and electrical engineering, renovations and maintenance projects.

 

The Conference featured with 10 local and overseas industry leaders, experts and scholars deliberated on emerging trends and explored prospects of the quantity surveying industry from all-rounded and professional perspectives. This Conference aimed at inspiring delegates to explore and seize opportunities emerging in the industry.

 

During the keynote speech, Ms HO Wing Yin, Winnie, JP, Director of Architectural Services, Architectural Services Department of the Hong Kong SAR Government shared with participants the innovative technologies adopted by Architectural Services Department and its quantity surveying branch. It reflects their determination in nurturing innovative quantity surveying to tackle practical problems.

 

The Conference comprised three sessions, and covers area such as financial claims, financial management, overseas career path, building information modelling and modular integrated construction. Topics discussed included “”Claims due to COVID-19 under different standard forms of contract”, “Opportunities and Challenges in Greater Bay Area” and “BIM: Expectations, Shortfalls, Issues and Solutions” and more. Both online and offline participants engaged in active discussion.

 

Sr Edwin TANG, President of the Hong Kong Institute of Surveyors mentions in his welcome speech, “Surveyors must keep up with the times and stay ahead of on-going development in our industry. By providing the best professional services we ensure the surveying industry can continue to flourish in Hong Kong.”

Sr Amelia FOK, Chairman of the HKIS Quantity Surveying Division mentions in her welcome speech, “With the wide-ranging topics, we hope participants will be inspired by the knowledge and experiences shared by the speakers, and help the industry “Forge Ahead”.”

 

Sr Paul WONG, Chairman of the HKIS Quantity Surveying Division Conference 2021 Organising Committee notes in his closing remarks, “It is our pleasure to invite local and overseas professionals from diverse backgrounds to share their insights regarding the future, challenges and solutions of quantity surveying with us. Through this we hope to get delegates informed and inspired.”

 

List of speakers (in order of speech delivery)

Ms HO Wing Yin, Winnie, JP, Director of Architectural Services, Architectural Services Department, HKSAR Government (Guest of Honour)

Sr Gilbert KWOK, Partner, Cocking & Co LLP

Mr KHOO Sze Boon, Immediate Past President (QS Division), Singapore Institute of Surveyors & Valuers and Managing Director, Turner & Townsend, Singapore, Vietnam & Philippines

Sr YK CHAN, Director, WT Partnership

Sr Melody LEUNG Kwan Ngan, Executive M&E Quantity Surveyor, AECOM Cost Consulting and Project Management (Singapore) Pte. Ltd.

Sr T T CHEUNG, JP, Past World Chairman, International Cost Engineering Council

Sr K C TANG, Director, K.C. Tang Consultants Limited

Sr Jason CHAN Tak Chuen, a young qualified QS with BIM experience

Sr Rita NG, Group Commercial Director, Paul Y. Engineering Group

Sr Mandy NG, Director, Beria Consultants Limited

Prof. Malcolm HORNER, Professor, University of Dundee

 

List of speakers and topics downloadable here: https://www.hkis.org.hk/hkis/general/annual-conf/2021/qsd/qsd-ac2021v7.pdf

Conference Proceeding downloadable here: https://qr.page/g/nqwpYfwOY

High resolution event photos downloadable HERE.

Photo caption

001 Around 60 guests and over 300 delegates attended the HKIS Quantity Surveying Division Conference 2021 in person and online respectively.

002 Ms HO Wing Yin, Winnie, JP, Director of Architectural Services, Architectural Services Department, Hong Kong SAR Government opens the Conference.

003 Sr Edwin TANG, President of the Hong Kong Institute of Surveyors delivers welcome speech.

004 Sr Amelia FOK, Chairman of the HKIS Quantity Surveying Division delivers welcome remarks.

005 Hon Tony TSE Wai-chuen, JP, BBS, Member of Legislative Council (Architectural, Surveying, Planning and Landscape) (3rd right), Sr Edwin TANG, President of the Hong Kong Institute of Surveyors (2nd right), Sr Amelia FOK, Chairman of the HKIS Quantity Surveying Division (4th right), Sr Paul WONG, Chairman of the HKIS Quantity Surveying Division Conference 2021 Organising Committee (4th left) and Office Bearers of the HKIS Quantity Surveying Division presents memento to Ms HO Wing Yin, Winnie, JP (middle).

006 Sr Paul WONG, Chairman of the HKIS Quantity Surveying Division Conference 2021 Organising Committee delivers closing remarks.

About the Hong Kong Institute of Surveyors

The Hong Kong Institute of Surveyors (HKIS) is the only surveying professional body incorporated by ordinance in Hong Kong. As of 10 September 2021, the number of members reached 10,683, of which 7,367 were corporate members, 70 were associate members and 3,246 were probationers and students. HKIS work includes setting standards for professional services and performance, establishing codes of ethics, determining requirements for admission as professional surveyors, and encouraging members to upgrade skills through continuing professional development.

HKIS has an important consultative role in government policy making and on issues affecting the profession. We have advised the government on issues such as project costs, building safety and unauthorized building works, problems of property management, town planning and development strategies, construction quality and housing problems. We have also issued guidance notes on floor area measurement, real estates valuation and land boundary survey,etc.

HKIS official website: http://www.hkis.org.hk

Facebook Page: https://www.facebook.com/hkisofficial

#HongKongInstituteofSurveyors #HKIS

Bad Boys Pest Control Company cooperates with Christian New Life Association to help people recovering from drug addiction and integrate into society

HONG KONG SAR – Media OutReach – 22 October 2021 – The establishment of Bad Boys Pest Control Company was inspired by the Badboys Bakery founded by Gordon Ramsay. Through the cooperation with the “Christian New Life Association”, they established a pest control company mainly with drug rehabilitation and rehabilitation staff as the core employees. This cooperation is mainly combined with the “Ark Operation” of the “Christian New Life Association” Drug Treatment and Rehabilitation Center. The Bad Boys Pest Control Company will provide the residents of the “Ark Operation” Yuen Long Training Center with pest management, pest control methods and decontamination. The vocational skills training of formaldehyde helps them prepare for rejoining the society.

 

The “Christian New Life Association” which cooperates with Bad Boys Pest Control Company was founded by a group of people and Christians who are willing to respond to the call of God. They are based on the gospel, to help the recipients to be released from various bondages, and to assist the recipients Integrate life, develop personal potential, rebuild healthy interpersonal relationships, and integrate into society. These institutions are well aware that drug abuse is often only a sign of potential socio-psychological problems, and therefore attach great importance to providing comprehensive care. The ultimate goal is not only to help the recipients to get rid of drugs, but also to establish a new healthy lifestyle.

 

Most of the employees of Bad Boys Pest Control Company were drug addicts who are eager to be accepted by society. Therefore, they can help customers solve pest management problems by training them on the skills of pest control, termite control, post-renovation cleaning, and formaldehyde removal services. In order to improve the lives of customers, for both parties, the slogan of Bad Boys Pest Control Company “Life Changing Experience” can be implemented, and the service fees will be returned to the church. As a past person, we will lead by example to help more drug addicts regain a new life. Relevant training and work make drug addicts feel that they have contributed to the society, thereby gaining a sense of satisfaction, and guiding drug dependents to become responsible and ethical citizens.

 

In order to provide better services to customers for drug abusers, Bad Boys Termite Control Company will provide vocational training for residents of the “Ark Operation” Yuen Long Training Center. In addition to professional pest management services, there are also rodent control and commercial customer pest control and prevention services. Introduction to service-related industries, safety rules for various appliances and equipment, safe implementation of deratization procedures, and skills training on cleaning after renovation, formaldehyde removal, and household disinfection, so that they can develop in more aspects. There is also household pest control. After-care procedures and instructions for site managers, infection control, pre-occupation cleaning and nano-natural disinfection services, training of personal literacy and job hunting skills.