International health insurance 'is a must for expat staff'
24/09/10 14:55
Companies who want the best staff to work in their overseas offices must be prepared to offer attractive benefits, such as comprehensive expat health insurance plans, HR Magazine has stated.
In an article by Stephen Hartigan, it is pointed out that a significant number of employees who relocate abroad each year will be on expat contracts from businesses based in their home country.
Therefore it is "essential" that staff are covered by good overseas medical insurance policies that can help in countries where access to free healthcare is severely limited.
Mr Hartigan explains that "the cost of treatment can be prohibitive without insurance", and without effective international private insurance, "staff may require more time off work, or take longer to recover, reducing productivity".
His advice comes in light of research by the Economist Intelligence Unit revealing that two-fifths (39 per cent) of businesses that are planning to expand into emerging markets also expect to increase their number of expatriate staff over the next five years.
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