International Private Medical Insurance

An expatriate assignment is a substantial investment for the employer, and a significant life change for the employee, so it is critical to get things right. Health insurance is a key factor in the total reward package, and can make all the difference in the success of an assignment.

Companies must balance cost and benefits

International health insurance is expensive, and medical costs are continually going up. Companies can seek to manage costs by introducing individual excess amounts, or by limiting cover where appropriate.

Size matters to providers

Companies with more than a few expatriates may be able to have medical history disregarded. Companies with more than a hundred expatriates may be able to create a customized package. On the other hand, companies with only one or two expats may find it difficult to get some providers to take them on.

Clear communication creates success

A medical plan is only as good as the employee thinks it is. An expat needs the peace of mind to know exactly what is covered, and a good plan should provide a 24/7 support line in the expat’s own language.

Local knowledge is critical

Every assignment is different, and details count when it comes to getting the best care at the best price. Most providers package insurance by region, but it is crucial to review the actual facilities available in each specific country the assignee will visit. Good local advice will ensure that a high standard of care and all regulatory requirements are met.

IBN is a network of independent employee benefit consulting firms in over 70 countries around the world, providing member firms and their clients with access to international employee benefits expertise.