DungPhuong Nguyen MMB Leader, Vietnam Sep 2020 ... About Vietnam 96.46 M Total population of Vietnam...

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Transcript of DungPhuong Nguyen MMB Leader, Vietnam Sep 2020 ... About Vietnam 96.46 M Total population of Vietnam...

  • benefits that truly benefit

    DungPhuong Nguyen

    MMB Leader, Vietnam

    Sep 2020

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Table of contents

    01 02 03

    04 05

    About Vietnam

    Benefit Trend

    Common Benefit

    Coverage

    Healthcare

    Landscape

    Key Highlights

    on Renewal

    Process

    06 Covid19 Latest

    Update

  • benefits that truly benefit

    DungPhuong Nguyen MMB Leader

    Mercer Marsh Benefits Vietnam

    Current Role

     Responsible for ensuring delivery of benefits broking and consulting services for employee benefits in

    Vietnam. Her role is to ensure that MMB offer a professional level of care to the clients and the services

    run smoothly, accountability and efficiently

     Has extensive experience in developing new and innovative employee retention solutions, benefits

    administration, underwriting and pricing

     Develops & implements successfully employee engagement activities as well as health management and

    wellness solutions

    Experience

    DungPhuong has over 10 years of insurance broking & consulting in employee benefits related products &

    services. Before joining MMB Vietnam in 2015, DungPhuong performed several senior roles in business

    development, business partnership engagement & played the role of senior client relationship officer in

    insurance industry

  • benefits that truly benefit

    About Vietnam

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    About Vietnam

    96.46 M Total population of Vietnam in 2019

    71 : 79 Male : Female

    Life expectancy at birth (2018)

    57.79 M Total labor force (2020 est.)

    $261.6 Bn Gross Domestic Product in 2019

    7% growth

    4% inflation

    14% medical inflation

    2.0% Unemployment rate, 2019

    Second quarter 2020: 2.7%

    $132 - $190 Vietnam’s current minimum monthly wage varies depending

    on region

    1 USD = 23,000 VND

    Copyright @ 2020 MMB (Vietnam). All rights reserved. Source: The World Bank 2020

    Benefits Trends Around The World Mercer 2019

    63 Provinces & 5 municipalities - Hanoi,

    Ho Chi Minh City, Can Tho, Danang & Haiphong

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    About Vietnam Industry development strategy to 2025

    • Engineering and metallurgy

    • Chemical

    • Agriculture, forestry and

    fisheries processing

    • Garment and textile, footwear

    • Software development

    • Digital content

    • Information technology

    services

    • Medical electronics

    Electronics and

    telecommunications

    Processing and

    manufacturing

    industries

    New energy and

    renewable energy

    • Wind

    • Solar

  • benefits that truly benefit

    Healthcare Landscape

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Doctor per 1,000 population Nurse per 1,000 population Pharmaceutical personnel per

    1,000 population

    0.8 1.4 0.3

    Healthcare Landscape Healthcare Infrastructure

    Health workforce per population

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Healthcare Landscape Healthcare Infrastructure

    From 2018, public hospitals, mostly provincial and central level,

    have been operating autonomously – they are no longer dependent

    on the direct budget subsidy for their operating cost

    Creation of new privately funded hospitals and clinics. This new

    private healthcare infrastructure may position itself to service the

    high-end segment of the healthcare market tapping into the

    significant spending by local patients going abroad for operations

    and other treatment that could be handled domestically

    New opportunities in healthcare Healthcare Facilities

    Public hospitals in Viet Nam are divided into 3 levels:

    • central level (47 hospitals)

    • provincial level (419 hospitals)

    • district level (684 hospitals)

    Vietnam also has 182 private hospitals, mostly located

    in urban areas

    Challenges for health system:

    • public hospitals suffer from overcrowding or very

    high occupancy rates

    • limited integration with primary health care

    • cost escalation

    • weak regulation framework

    • inadequate monitoring undermine hospitals

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Healthcare Landscape What causes the most deaths?

    New opportunities in

    healthcare

    Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Source: IHME (Institute for Health Metrics and Evaluation)

    COPD: Chronic Obstructive Pulmonary Disease

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    How much is spent on health -- now, and in the future -- and from which sources?

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Statutory Benefits & Contributions

    Company Contribution Employee Contribution

    1 Social Insurance 17.5% of monthly base salary that SI contribution based

    on (*) effective July 1, 2017

    8% of monthly base salary that SI contribution based on

    (*) effective Jan 1,2014

    2 Medical Insurance 3% of monthly base salary that SI contribution based on

    (*) effective Jan 1, 2014

    1.5% of monthly base salary that SI contribution based on

    (*) effective Jan 1, 2014

    3 Unemployment

    Insurance

    3% of monthly base salary that UI contribution based on

    (*) effective Jan 1, 2015

    1.5% of monthly base salary that UI contribution based on

    (*) effective Jan 1, 2015

    (*) SI contribution payment is based on the gross base salary with a cap of 20 times of the common minimum wage which is VND 29,800,000 (effective July 1, 2019)

    (**) Unemployment Insurance (UI) contribution is based on the minimum monthly salary to calculate contribution to UI is the minimum regional salary and the

    maximum monthly salary to calculate the contribution to UI 20 times the minimum regional salary

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Healthcare Landscape Description Government Health Insurance (GHI) Supplemental Health Insurance (SHI)

    1 Eligibility

    • Employees:

    o apply for both Vietnamese and foreigner

    o whose insurance are paid by the employers and employees,

    employee having labor contract of fulltime 3 months and

    longer term,

    • Household members - dependents

    • Not apply age limit

    • Not apply any restriction of pre-existing condition

    • Employees are eligible including Vietnamese and foreigner.

    • Dependent:

    o Direct dependent including children, spouse

    o Indirect dependent: parents

    • Age limit:

    o Children: from 1 year old

    o Adult: up to 65 years old & extend up to 70 (renewal

    only) with loading premium

    • Apply waiting period

    • Not suffer from cancer, leprosy

    • Not having more than 50% permanent disability

    2 Scope of

    cover

    • Main coverages: Inpatient incl Maternity (IP) and Outpatient (OP)

    o Medical examination and treatment, rehabilitation, pregnancy

    examination & childbirth

    o Examination for screening, pre-diagnose early stage of diseases

    o Treatment line transferred patients from ward-level hospitals to

    higher levels such as emergency, in-patient treatment where high

    technical quality is required.

    o Drugs, chemicals, medical supplies, equipment and medical

    technical services according to the list issued by the MOH

    o Cover cost of congenital, critical illness, cancer

    • Unlimited coverage amount

    • Cover In & Out-patient medical expenses at all legal medical

    providers, including state-owned, private & international

    hospitals/ clinics

    • Reimbursement up to limits/sub-limit as prior agreed policy for

    all insured expenses.

    • Cover for working and non-working related accidents that are

    not excluded by policy

    • Apply maximum annual limit of coverage

    3 Exclusion • Not cover for working related accidents, occupational diseases

    • Not cover for dental expenses, maternity, vision

    • other common exclusions

    • Not cover for congenital conditions

    • Not cover for treatment arising during waiting period pre-existing

    condition, chronical/critical illnesses & maternity

    • Not cover for member already having cancer before joining date

    • Exclusions as defined in the policy wording

  • Copyright @ 2020 MMB (Vietnam). All rights reserved.

    Healthcare Landscape

    Description Government Health Insurance (GHI) Supplemental Health Insurance

    (SHI)

    4 Claim procedure

    • Direct billing: service need to be alerted before treatment

    • Pay first claim back

    • Treatment registered facilities classified by central/provincial-city/district level

    o State-owned hospitals/clinics are 100% registered

    o Private medical establish