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Global employers face expat heathcare provision headaches
| Published: | 7 Jan at 6 PM |
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Global companies with branches in fast-growing emerging markets such as India, Russia, China, Southeast Asia and Brazil are experiencing difficulties in providing expat workers’ health care.
Companies attracting expat workers are expected to cover healthcare benefits and services as part of employment packages for a growing number of expat staff heading for the world’s emerging economies. Problems are arising as employers have little or no experience or knowledge of local facilities or their cost-effectivity.
The situation is complicated by smaller companies new to overseas locations attempting to cash in on opportunities in growing economies by employing expat managerial staff to supervise their new operations. Boomtime for would-be expat workers is causing local markets to become more complex, and applicants are expecting top-class benefit packages.
A good number of emerging locations, including African countries, Azerbaijan and Kazakhstan, pose a challenge for health insurance companies due to a lack of sophisticated medical facilities. As a result, the cost of add-ons such as Medivac may prove too expensive for employers and too risky for insurers, leaving expats unable to be covered.
Experts in the field are suggesting that employers will be under pressure to study the types of international medical insurance available and evaluate the need for cover. Policies which are suitable for one set of countries may be useless in others, thus increasing the financial burden of employing expat staff.
Companies attracting expat workers are expected to cover healthcare benefits and services as part of employment packages for a growing number of expat staff heading for the world’s emerging economies. Problems are arising as employers have little or no experience or knowledge of local facilities or their cost-effectivity.
The situation is complicated by smaller companies new to overseas locations attempting to cash in on opportunities in growing economies by employing expat managerial staff to supervise their new operations. Boomtime for would-be expat workers is causing local markets to become more complex, and applicants are expecting top-class benefit packages.
A good number of emerging locations, including African countries, Azerbaijan and Kazakhstan, pose a challenge for health insurance companies due to a lack of sophisticated medical facilities. As a result, the cost of add-ons such as Medivac may prove too expensive for employers and too risky for insurers, leaving expats unable to be covered.
Experts in the field are suggesting that employers will be under pressure to study the types of international medical insurance available and evaluate the need for cover. Policies which are suitable for one set of countries may be useless in others, thus increasing the financial burden of employing expat staff.
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