View more on these topics

Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.

However, Germany has also seen significant reforms to its healthcare system** in order to tackle the spiralling costs associated with increased demand and an ageing population. In short, this means that healthcare insurance is compulsory for all residents but despite a solid-state insurance system, private prepaid plans accounted for nearly 40 per cent** of private expenditure on health.

Doug Rice, managing director of Jelf International, said: “Despite having put reforms in place, Germany’s healthcare system continues to be under pressure, and successive governments have tried to reduce outgoings by cutting the proportion of the cost covered for treatments such as dental and vision care. Therefore, many higher earners or professionals are preferring to hold a PMI [private medical insurance] policy that also covers treatment outside of Germany and is more in line with the benefit levels they are accustomed to in their home country.”

In our latest ‘In Focus’ country guide, we set out some of the lesser-known facts about sourcing appropriate coverage for UK businesses with staff based in Germany. For more information, download our In Focus paper from our International Knowledge Centre.

*Office of National Statistics — employees working for a UK-controlled parent company (known as UKFAs or UK Foreign Affiliates)
**(Law on Improving Competition in Statutory Sickness Funds — GKV-WSG of 26 March 2007) Act (Gesundheits-Reformgesetz-Wettbewerbsstaerkungsgesetz)



Richard Leeson: Should platforms charge advisers rather than clients?

When the fund supermarkets and wraps came to market I wondered who their real customer was supposed to be. Two years on from the implementation of RDR I find myself no further forward in answering that question. And that has me worried. The RDR was intended to raise professional standards and with regards to platforms […]

Paper mountain 010514.jpg

Wealth managers call for Mifid II to replace RDR

The RDR should be replaced by the provisions in Mifid II to address some of the “anomalies” of the current RDR regime, says the Weath Management Association. In response to an FCA discussion paper on its approach to implementing Mifid II, published in March, the trade body for wealth managers says Mifid II provisions “more […]


Libor rigging ‘started in 2006’

A former UBS and Citi trader on trial for Libor-rigging began his scheme to manipulate the rate in late 2006 shortly after joining UBS, a court heard yesterday. Thomas Hayes is the first person to be tried for the Libor-rigging scandal. He has been accused of eight counts of conspiracy to manipulate the Libor rate. […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm