Multinational Companies Need To Provide Flexible International Health Insurance Schemes For Their Expat Workforce

Flexible International Health Insurance Schemes Expat Workforce

Multinational companies have multinational reach. They also have expatriate employees to look after across the globe.

Unique needs
A multinational company has unique needs when it comes to running their global business. This means that the Head Office HR department carries a huge responsibility.

They have a duty to ensure the safety and welfare of all employees and this includes expat staff wherever they may be located.

Without well-constructed, clear policies across the group things will become very disjointed indeed, one such instance is international health insurance cover.

Expats expect health insurance

By their nature, multinational companies tend to attract top-tier expatriate workers. These workers certainly make positive contributions to the worldwide organization, but they also expect benefits commensurate to their professionalism and experience. One such benefit must be international health insurance cover.

Employee benefits of international health cover

A well-structured, well-presented international health insurance scheme for multinational companies will give expat employees a raft of benefits.

The most common of these are:

  • Global health insurance cover
  • Comprehensive Life Insurance cover
  • Global cover in the event of accidental death or dismemberment
  • Long term disability cover
  • Global evacuation and repatriation
  • Global optical and dental health cover

Employer benefits

Here are some of the major benefits that a multinational company will benefit from through the introduction of an international health insurance scheme.

  • Health insurance under one cover: Trying to manage individual health plans for expats will be far more difficult than having all employees under one international health insurance policy. Clearly defined procedures and benefits can be placed on the company intranet and access given to all concerned.

  • On-line management: In today’s global business world on-line management of systems and processes is a given. When the HR department implement an international health insurance policy the staff assigned to manage the system will have complete online access to all records.

This will enable them to effectively manage those individuals currently working for the company, those who leave the company, and new recruits who join. Information ‘packages’ can be sent electronically to existing staff. Welcome ‘packages’ to new recruits.

  • Cost savings: The cost of having one policy covering all international health needs should not be underestimated. This approach is far more cost-effective than setting up individual cover per employee.

  • Dedicated account manager and support: The weight behind a multinational company means they expect dedicated account management for global services. International health plan. This can be put in place and clear lines of communication also established. Support team details and 24/7 contact numbers in the event of emergencies will be clearly visible no matter where in the world expats happen to be.

  • Best of breed company: The commitment a multinational company shows in offering international health cover to expats shows their intentions of being viewed as a best of breed company to work for.

  • Retain and attract a quality workforce: The difference between multinational companies is often shown by the benefits offered. One benefit that attracts highly qualified staff is a comprehensive international health package for themselves and their families.

Multinational companies are a special breed. As we said earlier, their needs and that of their expat workforce is quite unique. What this means in managing an operation spanning the globe is that economies of scale should be met, and quality systems put in place. One piece of that jigsaw surely has to be the implementation of an international health insurance scheme.

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