Health Insurance for Vietnamese
Employee Group

Tax-free employee benefit: employers purchase private health insurance as a means to attract, reward and retain the best employees, by giving them access to the best hospitals.

Private health insurance to retain the best Vietnamese employees

Vietnam is a growing economy with a shortage of qualified staff. More international and local companies in Vietnam will purchase private health insurance to replace social security as a means to attract, reward and retain their best employees, by giving them access to international standard clinics and hospitals.

The success of Vietnamese employee medical and accident benefit

More Vietnamese managers are getting company group private medical insurance as an employee benefit for more productivity, time saving, best specialists and international status for managers or knowledge workers. With tension on salaries and qualified managers, companies are purchasing private health insurance to offer best treatment as they do for their expatriate team. Today, in capital cities and office managers, and now workers, this tax deductible benefit becomes a standard of ‘best companies to work for’. Surprisingly, the lead on this market of Vietnamese staff group insurance is dominated by state-owned large companies like Vietnam airlines, Vinamilk and banks who reward their staff with a tax-free benefit and deducted from their profit before those are channeled to their headquarters. It is also a competitive advantage in recruitment. The bancassurance practice of pushing sales of health insurance to their high net worth clients is also contributing to SME top management.

International health coverage in Vietnam

Vietnamese staff feeling valued ‘as an Expat’ who have access to international standard clinics instead of the social security 1-unique choice state-owned designated hospital. 

Additionally, access to the best Vietnamese specialists, doctors, hospitals and avoiding the loss of time queuing to government hospitals is ‘productivity gains’.

Every year, depending on their profit or loss making, the ranking of best insurer change as they increase their prices based on your group claims ratio.

There are 2 or 3 insurers specializing in medical for Vietnamese groups of employees. Bao Viet, PTI, PVI, Pacific cross or Liberty insurance are the ones that share the leaderboard depending on your company criteria. We would look at our 5 criterias benefit you may want for your team. 

For negotiation purposes, we would look at the age and gender repartition of your employees.

For servicing we would make a census of which city/ district your employee and their dependents reside. Focus on the insurers with the longest list of cashless clinics and their recent history of claims denials or troublesome denied claims through our network of medical doctors and head of clinics.

There are many aspects to a medical health plan apart from the most obvious quick and full refund payment. This refund aspect is more and more arranged with Direct billing lists of clinics and e-claim or claiming mobile apps.

With employers, we share the best practices by employers with regards to employee benefits. We help negotiate additional benefits must-have and nice-to-have at group discounts. 

But also more technical accounting and taxation aspects of accounting red invoices and profit tax savings. To make sure you always get the best deal, we review the best insurers year-after-year thanks to our on-going experience of dozens of best-in-class insurers and medical service providers.

insurance in Asia

Not only health insurance is different but most general insurance: accident, life, home, travel, office or even car insurance will be different than your past experiences.