Providers are looking into the challenge of designing IPMI products that accommodate workers who wish to spend some of their year in the UK and some of it overseas.
Linda Beavis, principal, global benefits at Aon, (pictured) told Health & Protection the need for these products was becoming more pressing because the pandemic has caused many workers to reassess their lives and their lifestyle.
“We’re probably going to see more people choosing to go overseas as they realise they can do their job in various countries – that they don’t necessarily need to be sat in grey and drizzly UK, they can do their job from somewhere a bit sunnier or a bit better for their lifestyle,” she said.
“So they want to go and live in another country and carry on doing their job which is all well and good and companies are looking at how they can supply benefits to these types of employees.”
But Beavis added that there is also the question of who pays for the workers’ private medical benefits when they are abroad.
“IPMI is an expensive benefit. It is one of the most expensive benefits you’re going to get outside a pension and who is actually footing that bill?” she continued.
“The employee has decided they want to go and live in Barbados for six months of the year, which would be lovely if we could all do that, and so really what we need is flexibility from the providers around their offering to allow some sort of voluntary upgrade.
“We’ve been talking to the provider market about it, and I think some are closer than others to actually getting a product out there that works on this. It’s making sure that when those employees decide that they want to go and work overseas – who’s providing that benefit? Who’s paying for that benefit?
“Whose responsibility is it to give them that benefit from a duty of care? Is the corporate under a duty of care or is it the employee because they’re choosing to go and how do they then structure those benefits for them?”
Also weighing in on upcoming trends for 2022, Sarah Dennis, head of international at Towergate Health & Protection, said that looking after the health and wellbeing of overseas employees is becoming an increasingly sophisticated process.
“Support needs to be holistic and include prevention, early intervention, as well as support for mental wellbeing and physical wellbeing,” Dennis said.
“This needs to be coupled with specialist expertise, and local knowledge. Providers that offer the most comprehensive support are the ones that stand out.”
Health & Protection has published its inaugural International Private Medical Insurance report and service ratings.
The report is available to download for free by advisers, intermediaries and brokers operating in the space from this link.