International Corporate Health Insurance
International corporate health insurance is private medical insurance designed to provide access to private medical treatment for employees or groups working outside the UK or traveling abroad for business regularly. Here are answers to frequently asked questions about this type of insurance:
What is international corporate health insurance?
- International corporate health insurance provides private medical treatment to employees or groups working abroad.
- The company pays the premium, while members can claim medical treatment costs per the policy’s terms and conditions.
Who is international corporate health insurance for?
- It covers groups ranging from small (minimum two people) to large.
- They are designed for multinational corporations with employees in multiple countries or for employees who travel abroad for work regularly.
Benefits of international corporate health insurance:
- Comprehensive coverage, including hospitalization and emergency treatment.
- Customizable plans tailored to company and employee needs.
- Access to private healthcare abroad.
- Peace of mind for employees.
- Assistance with navigating local healthcare systems.
- Recruitment and retention tool, showing commitment to employees.
What does international corporate health insurance cover?
- Coverage varies by plan and provider but may include inpatient and outpatient care, cancer treatment, medical evacuation, mental health services, dental and optical care, and more.
- Coverage depends on the specific policy.
What countries are covered by international corporate health insurance?
- Coverage usually includes geographical regions like Europe, Asia, Oceania, the Americas, and Africa.
- Regions covered depend on the plan.
What is not covered by international corporate health insurance?
- Exclusions may include treatment outside the geographical area of cover, pre-existing conditions (unless agreed upon), substance abuse, cosmetic surgery, high-risk activities, self-inflicted injuries, and more.
- Exclusions vary by policy.
How is the cost calculated?
- Cost factors include geographical coverage, employee age, coverage level, group size, and excess level.
- Coverage in regions with higher healthcare costs or older employee populations may result in higher premiums.
Difference from individual international health insurance:
- Corporate health insurance is for companies with employees abroad, while personal health insurance is for individuals.
- The employer typically pays for corporate policies.
Difference from corporate travel health insurance:
- Corporate health insurance provides long-term healthcare coverage for employees abroad.
- Travel health insurance covers medical emergencies during trips for short-term business travelers.
International corporate health insurance offers valuable protection and peace of mind for employees and employers, ensuring comprehensive healthcare access for employees working abroad. However, it’s essential to understand the specifics of the policy and its coverage to make informed decisions.