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iPMIM >> International Health Insurance | Expatriate Health Care
Q8
8 HOW CAN CORPORATIONS IMPROVE AND MANAGE THE LIFE CYCLE OF THEIR EXPATRIATE WORKFORCE?
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Roundtable
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hilip Catterton: Comprehensive think about incorporating and cover should be looked at not promoting healthier lifestyles’ only as a necessity but as a for their employees with perhaps perk. Quality health care gym membership. insurance benefits are an important Jon Carpenter: Companies element in ones life, but to an expatriate need to consider the value of and their family it has added value. their medical programs when Having the ability to seek treatment they look at cost cutting. Often in one’s home country is something benefits like PMI or IPMI are the of significance to an expatriate. easiest to cut or pass back to Domestic employee or even Human the staff for self provision. This Resource professional may not is short sighted. In addition, comprehend the difficulties an expatriate companies should look at staff may face in communication, cultural differences and welfare programs – maybe introducing things like stress general standards of facilities. counselling and/or health checks to ensure their staff Having the ability to go “home” for health care remain fighting fit and able to cope with/deliver in this treatment should be a standard consideration of very challenging world economy. expatriates and their families if the employer is interested Andrew Apps: Being an expatriate has changed in the long term commitment of the employee to the dramatically over the past few years and the generous assignment abroad. Given the special circumstances expat packages have long disappeared, so it is important employers face when hiring expatriates including the that companies think carefully about what they do and cost of initial transportation and accommodation for don’t provide. the interview, moving abroad and perhaps paying At first sight cutting iPMI is seen as an easy means housing, relocation expense, schools, local housing etc, to reduce costs, but this can be short sighted and will healthcare insurance is a reasonable expenditure invariably end up with the company having to foot a considering the overall expense of hiring. large and unexpected bill somewhere along the line. As a perk this component to the overall compensation The scope of cover offered is important but so too is strategy can increase the longevity of the expats career, the support that is given to the expatriate, whether it but for the human resource professional it can also be in the form of a stress free claiming experience to result in savings should the expatriate leave. The costs providing the tools that can make life just that little be incurred in finding a replacement may include, for easier. As any expat will tell you, knowing that there is example, recruitment costs, down time, training and someone on the other end of the line that cares can additional relocation expenses. All things considered make all the difference. From the employer’s point of considering health care insurance is normally an essential view too, being able to speak to someone who really element of the employee agreement - it does not cost understands the market, the quirks of living overseas that much more to offer a high quality comprehensive and even being an expat themselves can help ensure insurance plan, not only for the expatriate but their that the unexpected is avoided and life returns to family as well, especially if it leads to increased employee normal as quickly as possible. At ALC Health we satisfaction, higher moral and dedication to the understand that no two individuals or organisations assignment and company as a whole. are the same, which is why we take a more personal Angelo Masciantonio: Corporations can better manage approach for each and every one of our clients. the life cycle of their expatriate workforce by assisting Alison Massey: Becoming an expat can be a difficult with a more comfortable cultural integration, maintaining time, especially when experienced for the first time. a strong employee assistance program, and offering A combination of some of the most stressful events in accessible and affordable mental health services. a person’s life are happening at the same time - a new Steve Nelson: A good comprehensive medical insurance job, often uprooting of a family, a new country, a new plan can be worth it’s weight in gold. Giving your culture, leaving extended family members behind and employees the best possible medical care rather than so on. Companies need to empathise with this and the cheapest will ensure that your employees have offer support if they want to get the best out of their shorter absences through illness and so be more overseas workforce. There are many services available productive for the corporation. A plan that includes but it’s key to ensure the employee has a good IPMI wellness benefits can be of real value. They should plan so health care is not a concern. www.ipmimagazine.com International Health and Medical Insurance and Assistance News Magazine