Please note that all changes highlighted in this update will take effect for all policies renewing on or after 1 May 2024.
In March, we met with Allianz to review the claims performance of our plans over the past year and plan for the next.
We understand that keeping premiums low is important to you. Over the past 5 years, we have been able to decrease our premiums in most of those years while continuing to improve our products and ensure that they are effective for your needs.As you will have experienced in other areas of life, inflation has pushed up the costs of many of the goods and services that we all use. This includes the cost of medical treatment around the world.
This has meant that although we have had a similar number of claims, the claim amounts have been higher. Our premiums need to rise to meet the cost of claims, so we have to increase both our Alpha and Omega premiums in 2024.Alpha premiums will increase by 8.5%.
Omega premiums will increase by 5%
Benefit Changes
One of our core values at Talent Trust is that we want to be effective in what we do. We want to ensure that our products are effective for your needs. In order to meet more of your needs, for renewals from May 2024, Alpha and Omega will include cover for chest x-rays as part of the wellness check-ups, and cover will extend to cover treatment for eating disorders.
Dental Option Changes
Another change to help us be effective will happen with our option for dental treatment.We will be introducing a much more comprehensive Dental option that covers dental surgery, orthodontics, periodontics, implants, etc.After researching what people were asking for and exploring what our underwriters were able to build, we now have a new dental option that offers much more value.The new dental option benefits are:
- Routine dental treatment (with 20% coinsurance/copayment) up to US$500
- Dental surgery (with 20% coinsurance/copayment) up to US$500
- Periodontics (with 20% coinsurance/copayment) up to US$500
- Orthodontic treatment and dental prostheses (with 50% coinsurance/copayment) (10-month waiting period) up to US$2,000
- Increased overjet > 6mm but <= 9 mm
- Reverse overjet > 3.5 mm with no masticatory or speech difficulties
- Anterior or posterior crossbites with > 2 mm discrepancy between the retruded contact position and intercuspal position
- Severe displacements of teeth > 4
- Extreme lateral or anterior open bites > 4 mm
- Increased and complete overbite with gingival or palatal trauma
- Less extensive hypodontia requiring pre-restorative orthodontics or orthodontic space closure to obviate the need for a prosthesis
- Posterior lingual crossbite with no functional occlusal contact in one or more buccal segments
- Reverse overjet > 1 mm but < 3.5 mm with recorded masticatory and speech difficulties
- Partially erupted teeth, tipped and impacted against adjacent teeth
- Existing supernumerary teeth
Our Team
Our team has had a few changes in the past few months. At the end of 2023, Pansy, who headed up our Customer Success team, retired after 19 years with Talent Trust. Pansy was a wonderful servant to Talent Trust and was instrumental in getting us to where we are today. She will be greatly missed… this said, she has already been back for a few visits, so we will definitely see more of her. 🙂Pansy has left us a great legacy, and to prepare for this change, she spent last year establishing Sarah Thum and Mabel James as her replacements, raising them up to take on the mantle of leadership in Customer Success and for the future of Talent Trust.Our number of members continues to grow (up by 8.5% in 2023), and our team continues to grow to ensure that we can serve you effectively. In the past 6 months, Esther Dominic, Sharon Koh, and Bryan Looi have joined to ensure that we can provide you with the service that you deserve.
Please Tell Your Friends About Us
Our #1 source of new members is a referral from a friend. Having a larger membership allows us to provide more services, and, through economies of scale, reduces our costs per member, keeping our premiums down.
Thank You
Thank you for continuing to support us to help global workers be their best.
