Expat health plans are important to companies as an incentive for attracting quality candidates and maintaining a fit and healthy workforce.
Multinational companies generally provide a comprehensive health care package for expats.
Private medical insurance looks after the cost of hospital charges, including consultant fees, and even cancer care and treatment for long-term conditions.
An important point for expats to check are the provisions for emergency treatment and medical evacuation, as health care in some countries leaves a lot to be desired by western standards and transfer to better facilities in another country is expensive.
To attract more customers, private health care providers are adding in extra benefits, like routine medical check-ups, dental and eye care.
Value for money health cover
The best private medical insurance is not necessarily the most expensive, but the policy that offers the best value for money.
For instance, expats can pay out a lot more for all-in cover when a mix of local health care services and top-up private insurance is cheaper and more effective for their needs, especially in Europe, North America and Australia.
For those in more far-flung expat outposts, a more comprehensive package may be more expensive but better value should life take a turn for the worst.
When shopping for private medical insurance another point to think about is who will receive the benefit and can the policy be tailored to their specific needs.
The health care required by an office full of young women likely to face pregnancy is far different the needs of a team of male oil or gas riggers.
Shopping for cover
Many expats will also travel with their families – which needs child health care also needs taking into account.
Location also makes a big difference in cost. Health care in North America is often the most expensive, and zoning the workforce to exclude the US and Canada can claw down costs, while costs in the Asia pacific are generally far less.
Expats and human resources managers can see a pattern emerging to personalise health care by identifying the age, gender, needs and location of their workers.
Analysing private medical insurance to see which policy offers the right features at the right cost delivers a better solution than aiming for the cheapest cover.
Once a check list of features is drafted, shopping around providers for cover that offers the required benefits is the time to negotiate on price.
