INTERNATIONAL EMPLOYEE BENEFITS
Providing benefits to international employees can be a challenging task, especially with ever-changing PPACA regulations to the benefits landscape that requires your compliance both locally and overseas. Orion International can assist you in designing and implementing an international benefits program for expatriates, travelers, TCN’s and foreign nationals working in the U.S. Whether you currently have an international benefits plan or are considering expanding globally, Orion is here to guide you.
How We Work
Orion’s approach to international benefits starts with the fundamental evaluation of your company’s current expectations and future needs. We review all options available and develop a proposal as we work closely with you. Our access to insurance carriers and markets is unparalleled – don’t be surprised if we show you coverage from insurance companies that are niche players. We can design custom insurance plans to exactly meet our clients’ unique requirements.
Questions to ask:
- What sort of evaluation process was given to determine your company’s current and future international needs?
- How many different insurance options did you review?
- Were health providers reviewed and considered when choosing an insurance carrier?
While cost is never the definitive factor in purchasing a legitimate international benefits plan, it is an important factor. The bigger issue is maximizing your premium dollars.
Hard Costs – First Year
Hard costs include the premium you are paying for insurance and services. The initial hard cost will be cost of insurance (and ancillary products) in the first year. The consideration here is whether the plan originally marketed to the broadest number of insurance carriers. If not, then perhaps the same level of coverage could have been purchased at a lower price.
Hard Costs – Renewal
Many clients assume that simply because premiums have increased due to medical trend that nothing can be done to lower costs except to increase deductibles and/or decrease benefits. While worldwide medical inflation is a very real cost it does not necessarily mean that your renewal must increase. Orion has consistently lowered our client’s renewals and, in some cases, reversed them entirely.
There are a number of hidden or “soft costs” with any insurance plan. Such costs include the time spent in managing the plan. Staff time can add up very quickly trying to figure out the best way to manage the needs of overseas employees. Issues arise when the purchased international plan does not meet all the expectations of the international staff and their families. If the new international plan does not have parity with the U.S. domestic plan, this results in complaints and time spent finding solutions. In some countries your expatriate employees are expected to meet certain health insurance requirements. Should your expatriates not meet those requirements the penalties can include fines, revocation of work permits and even permanently banning your company from that country.
Orion has lowered
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Many corporations in the United States assume that the international insurance coverage purchased also meet Federal and State insurance laws. Unfortunately, the reality of international insurance plans can be complicated.
Questions to ask:
- Are you aware of the different compliance levels offered by international insurance carriers?
- Are you aware that your expatriate employees may need to buy local medical insurance in the country they are working in?
- Do you have overseas employees on U.S. based health insurance coverage?
- If so, it is likely there is a violation in that insurance contract which can void a member’s coverage.
Orion International has many relationships with top benefit brokers across the United States. The reason for this is because Orion can enhance broker’s capabilities by assisting with their client’s international insurance needs. By partnering with Orion we can ensure that your international benefits work seamlessly with your domestic benefits.
If you are interested in gaining more control over your international benefits, want to lower costs, or simply have questions on how to better maximize your international benefits, please contact us for a consultation. There is never a charge or fee to talk with us. Whether you have one expatriate or one thousand, Orion can help.
Orion International can provide a number of services in addition to insurance:
- Political and Medical Evacuation
- International EAP
- Disaster Preparedness
- On-Site Medical Clinics
- Business Travel Accident
PARTNER INSURANCE COMPANIES