Medical Insurance Abused By Bank Staff

The Bank of Singapore (BOS) has conducted a wide-ranging investigation into the misuse of medical benefits by staff who made claims for ineligible items such as bird's nest. Hundreds of employees were involved in the investigation which ultimately led to some people being sacked.

Launched Investigation - BOS, the private banking arm of OCBC Group, launched an investigation last year into employee medical claims involving one of its company panel clinics. Those involved were found to have submitted claims for bird’s nest, skincare products, supplements and toothbrushes – items that are excluded under the company’s medical benefits. They were told to pay back the money for these claims.

The “more serious cases” also had disciplinary outcomes that affected people's bonuses. They also did not receive a one-off cost-of-living support of S$1,000 (US$735) for junior staff across OCBC Group.

Reports From Website - News of the dismissals and irregularities in staff medical claims at BOS was first reported by financial services careers website eFinancialCareers. The article by eFinancialCareers said that BOS had sacked up to 40 employees last week after an investigation of past medical claims. A source with knowledge of the matter corroborated that number to CNA and confirmed that the dismissals occurred over two days last week.

The claims were made under the company’s medical insurance scheme, which allows employees to claim up to S$10,500 for medical and dental expenses. The list of claimable items, includes outpatient consultation and medication issued by a general practitioner or specialist, non-aesthetic dental services, vaccinations, X-rays and blood tests.

Expenses that are not allowed to be claimed largely cover those that are not medically needed, such as cosmetic surgery, items such as toothbrushes and toothpaste, as well as care devices like wheelchairs.

BOS did not require itemized receipts for medical claims below S$200.