Top 11 Employee Benefit Plans in Indonesia

Employee benefit (group) insurance  is an insurance protection covered by employers to their employees. Employee benefit plans may include medical insurance, life insurance, and retirement benefits.

Group insurance is not only beneficial to the employees, but could certainly pay off for the company or organisation in the long run. Current employees may be enticed to stay and it will be easier to find the best new recruits.

There are several employee benefits plans available in Indonesia. Lifepal has concluded 11 best employee benefits insurance plans that can be tailored to the needs and budget of each employer:

Employee Benefit Plan for Expats in Indonesia

Employee benefit programs are highly recommended to all expats residing in Indonesia. In fact, it is mandatory for expats who have been residing for six months or more to obtain The Indonesia National Social Health Insurance or also known as BPJS.

The Indonesia National Social Health Insurance is a paid government social security and health system program that is implemented by Badan Penyelenggara Jaminan Sosial (BPJS).

However, BPJS cannot cover some advanced medical treatments. If you wish to have the VIP services and medical benefits, we highly recommend to join independent healthcare insurance at your own expense.

Why Are Employee Benefits Important?

Proposing the most appealing benefits can become an important stone to attract the best talents. Offering the best employee benefits program shows that the employers are invested in their overall wellbeing and also their future. Therefore an attractive benefits package can attract and retain top talent.

Tips for Choosing The Best Employee Benefit Plans in Indonesia

To be able to choose the best insurance plans, you need to understand how the most common employee benefit insurance works. Here are some tips that can help you find the best insurance for your employees:

1. Health Insurance for Employees

Please note that all employees must obtain The Indonesia National Social Health Insurance. Which means all employees are entitled for mandatory retirement and health care benefits (BPJS Kesehatan).

However, BPJS Kesehatan’s medical benefits and services are very limited. Therefore, it’s highly recommended to join independent health insurance for employees. If you have extra budget, then you can add death benefits to complete the health insurance policy.

2. Carefully Considering Rider

Rider is an extra benefit that an employer can get to add on the basic insurance policy. This usually includes dental treatment, optical, life insurance, accidental death benefit, and many more. So when purchasing riders, you have to pay extra money for the additional benefits.

There’s nothing wrong with adding riders to the policy, however before signing up make sure you carefully consider whether the benefits are worth it or not. You should weigh the pros and cons of the rider benefits carefully before deciding.

3. Find The Best Key Features

Not every employee benefits insurance plan is a one-size-fits-all solution. Therefore you need to find the best insurance broker that includes other key features, such as wellness plans and technology services.

Lifepal is a licensed insurance broker, providing the best selections of employee benefit plans with competitive price. As an insurance broker, we offer employee benefit consultants to help you create customized packages to meet the needs of employers.

Lifepal partner up with a few key providers to offer additional benefits, such as PCR test, rapid test screening, vitamin supply, and vaccination programs. We also provide technology services as part of our employee benefit programs, such as onboarding employees, alteration employees, insurance benefit view. Including employee benefit platform or HR related tools such as payroll, payroll cash advance, BPJS, and AdMedika Integration.

The Average Cost of Employee Benefits Insurance

Every insurance company has their own factors based on which they decide the premium cost. In general those factors may include things such as number of employees, type of insurance, employees’ demography, and business industry.

1. Number of Employees

Insurance companies have a minimum number of employees that can be insured, typically at least 10 employees including the owner. Mostly, the more employees insured, the lower the premium per person will be.

2. Type of Insurance Plan

Insurance type is one of the most impactful factors that can influence the premium cost. For example, if you’re choosing health employee benefits that cover international medical treatment, then the premium will surely be higher compared to the domestic one.

3. Employees’ Demography

Most insurance companies will ask for the demographic age and gender of the employee to determine the premium cost. The older the employee, the higher the premium.

4. Business Industry

Business industry plays a big role in determining the premium cost. If your business industry has a higher occupational accident rate (construction, mining, or gas), then the premium cost will most likely be more expensive.

Why Buy Employee Benefit Plan Policy From Lifepal?

Lifepal provides the best employee benefit solutions by utilizing technology services through HR programs, tools, and customizable insurance benefits. Lifepal partner up with the top insurance companies, such as AXA Mandiri, Astra Life, Lippo Insurance, Allianz, FWD, and many more.

Some of our clients include big names, such as Lazada, Lamudi, Deliveree, Happyfresh, J&T, and many more.

Learn more about  Lifepal employee benefits program now!

Lifepal is operating under a registered Broker License. The License is under PT Anugrah Atma Adiguna, supervised by OJK in accordance with KEP-018 / KMK.17 / 1992 and members of APPARINDO 60-2001 / APPARINDO / 2019

Employee Benefit FAQ