International Health Insurance has established a corporate private medical insurance plan for small to medium sized companies with at least three expatriate employees.
The plan has a modular structure which allows the company to build the cover they need for employees up to an annual maximum of £1m. Module one provides core cover for hospitalisation and inpatient treatment. It provides 100 per cent cover for surgery, chemotherapy and organ transplant while in hospital. It also provides full cover for emergency treatment and expenses incurred during childbirth.
Module two can be added which provides outpatient treatment up to £20,000. Module three covers medicines and appliances such as bandages, slings and hearing aids up to £550 a year.
Module four covers medical evacuation where transport is needed to take the employee and an accompanying person somewhere else to receive treatment. This may include the expense of an aeroplane or helicopter. Module five covers rehabilitation and nursing at home or at a hospice up to £1,650 a year. Module six offers reimbursement of dental and optical expenses up to an overall maximum of £1,350.
The plan also has extra services including a 24 hour helpline and membership of the IHI Wellbeing University which offers health assessment tools to promote healthy living.. There is also access to IHI's website which provides free doctors consultations, advice on choosing a hospital or clinic and password protected.
This plan could be popular due to more people working abroad and employers focusing on a wide range of employee benefits to attract and retain staff rather than simply relying on a pension. The modular approach of this plan may be useful for smaller businesses who have a strict budget for employee benefits. However, annual limits are imposed for each module, which could act as a restriction on this plan's flexibility.
Bupa International's gold plan is also available to businesses with at least three expatriate employees, but does not offer the modular approach and dental cover is offered on a shared payment basis compared with IHI's offer of a full refund.