Top 10 Global Benefit Plan Providers for Expat Employers
Let’s discuss the top ten global benefit plan providers for international organizations with global talent who must meet their duty of care with an international benefit plan. One of the most challenging insurance plans to put in place for a multinational employer is international group insurance plans, otherwise known as global benefit plans.
Global mobility managers and benefit plan executives are faced with a complex requirement to cover employees being sent abroad for long-term assignments and hiring overseas talent for their global operations. Each country and region will have its own challenges, and domestic brokers with limited experience, knowledge, and insurance contacts are often not up to the challenge.
Creating a comprehensive and competitive global benefit plan for expatriate employees is crucial for multinational corporations aiming to attract and retain top talent. As we have noted previously, the cost of a failed overseas employment contract can be hundreds of thousands of dollars. That expat talent you are sending abroad or hiring in place is not only expensive but may be the key to your organization’s success.
Choosing a benefit plan provider plays a pivotal role in achieving this goal. In this analysis, we will explore eight global benefit plan providers, evaluating their strengths and offerings to help employers make informed decisions.
Here are Top 10 Global Benefit Plan Providers for Expat Employers:
Cigna International
We have found that most corporate clients gravitate towards our most prominent global benefit plan provider in the market, Cigna International. While Cigna International, otherwise known as Cigna Global, is owned by Cigna in the USA, it is a separate division and should not be confused with the plans and operations offered to companies employing Americans in the USA. Cigna has offices and staff around the globe and can offer an impressive range of flexible global insurance programs for a mobile workforce.
Cigna International is well known for its extensive global network of healthcare providers and robust customer service to Fortune 50 companies in the USA, as well as some of our large corporate clients in Canada and even overseas companies we work with abroad. Cigna offers a range of global health plans designed for expatriates, and being a client of this company with nearly unlimited resources gives our clients access to arguably the largest medical network for expat employees who like to access healthcare without paying out of pocket.
Many clients are also impressed by the other insurance coverage such as dental, wellness, telehealth, vision and medical evacuation. Cigna’s medical evacuation partnerships are integrated via International SOS or Healix, but other partners can be part of the mix as well.
Cigna also offers international life insurance, AD&D and long-term disability coverage that has offered our expat group insurance client some excellent rates because of their reinsurance arrangement with Zurich International.
Cigna can offer international group insurance plans to companies with as few as two employees if they are part of a wider global employee population of over 35 employees (conditions apply).
Plans often include coverage for medical, dental, and vision care, as well as wellness programs. Cigna’s flexible options allow employers to tailor plans to meet the specific needs of their expat workforce. Cigna generally needs an expat employer to have over 30 employees globally to be able to quote their global benefit plan to a minimum of two expat employees. They can provide excellent individual global medical coverage as well via our website.
Aetna International
Aetna International sometimes referred to as Aetna Global, is a subsidiary of CVS Health and has been a go-to global benefit plans supplier of ours for two decades. Aetna’s strength lies in its diverse range of health plans, including options for both short-term assignments and long-term expatriate placements.
Aetna emphasizes digital tools for managing health and wellness, making it convenient for expatriates to access care and resources. Like Cigna, Aetna has excellent customer support and a global network of healthcare providers. They are also compliant in jurisdictions such as Australia, Saudi Arabia and the United Arab Emirates.
Aetna has a strong global health plan for expat employees and can often source group plans for as few as three employees, depending on the size of the wider workforce. Aetna International has extensive international health expertise that they can provide to expats on long or short-term assignments, along with a deep understanding of foreign medical care, cultures and a large medical network.
Aetna International can also offer international life insurance, AD&D and Long Term Disability coverage to most of their clients abroad, but we would say that this is often not their strong suit.
MetLife Expatriate Benefits
MetLife is another top provider of employee benefits coverage globally. Their expatriate benefits division specializes in crafting benefit solutions for international assignees, and we have longstanding experience in working with this large and respected insurer.
MetLife can meet the coverage solutions of both Cigna and Aetna. While it doesn’t have the same market penetration, it often makes up for flexibility and price. MetLife can deliver compliant and capable global healthcare solutions for your company’s overseas foreign workforce and large medical network. Life, disability, and personal accident coverage can also be part of their global benefit package.
MetLife’s offerings include life and accidental death insurance, disability coverage, and retirement benefits tailored for expatriates.
Allianz Worldwide
Allianz Care is a global health insurance provider primarily based in Germany but with expat insurance operations headquartered in Ireland. Allianz focuses on offering comprehensive coverage for expatriates – including global medical, evacuation, life and disability coverage. They provide customizable plans covering medical expenses, emergency evacuation, and routine health check-ups.
Allianz Care is recognized for its user-friendly online platform and customized policies that have more of a European flavor. Allianz has a large presence in the NGO space, and we have worked with Allianz for many years. The firm has a large medical network and is compliant in multiple jurisdictions.
Allianz has over 400 benefit specialists globally, 110 network insurers in 99 countries and over five regional hubs. Their online portal is considered very user-friendly, and we have found their global client service and support to be superior to those of many other providers. Allianz is a large, secure and respected global insurance company, so you know they will be around in the long run.
MSH International
MSH is a smaller entity based in France, but it has large offices in Canada and various countries in Asia and the Gulf. While not classified as a large global insurer, they are a nimble third-party administrator (TPA) that often uses Lloyds of London as their insurer in the background.
MSH International can provide global health plans for expat employers, and we have a few clients with them who have been happy. Their network capabilities are not as strong as the above providers, but they are a bit more, making it easier for employers and employees to manage policies and claims. The company’s commitment to customer service and global assistance network contribute to its popularity among expat employers, especially in Asia.
Utmost International
Utmost is a large provider of corporate expat health plans across the UK, Middle East, Europe, and Latin America. They can provide customized global health plans through brokerage such as ours, but they can also source international pension plans.
Utmost gives our clients personalized service, claims management, credit strength and good pricing that can potentially benefit your expat staff. Their life insurance plans have been awarded excellent ratings for financial strength and positive outlooks. The firm has over one million lives covered and a very diverse population covered globally.
BUPA International
We have not worked with BUPA International for some time as they do not place new global health plans for expat employers via North American-based brokerages. BUPA is based in the UK and has a long-established record in the global healthcare space for expat employers, but it is not able to provide non-health related coverage such as life insurance.
In our previous dealings with corporate benefit clients, we have found BUPA to be much more rigid in their underwriting and service levels. Even if offered or available, BUPA would not be our preferred or recommended choice for our global clients.
Generali
Generali Global Health offers international health insurance solutions for expatriates, and we have worked with them in the past. Their global medical plans are designed to provide comprehensive coverage, including medical, dental, evacuation and vision care.
Generali can also quote group personal accident, digital health services, and health and wellbeing programs to support your expat staff assignments. The GEB network can help protect your valuable expat assignments in multiple jurisdictions.
William Russell Limited
We have worked with William Russell Limited for many years. William Russell is a UK-based expat insurance provider primarily in the individual expat insurance space for global life, disability and healthcare. It is a smaller firm that operates on a TPA (Third Party Administration) basis and was funded in 1992. It now has clients in 180 countries and 75 staff. Their plans are also offered on a group basis with their reinsurance provider in the background.
Now Health International
Now Health is a TPA based in Hong Kong and some offices scattered in Asia, but also in the UAE and the United Kingdom. They are a solid expat health plan provider for both individual expatriates and companies that employ expatriates. They have over 300 staff and are associated with Best Doctors. The company has very good service and a variety of plans that should appeal to many multinationals. They are not able to cover expatriates located in the USA. Note that Now Health does not have life ore AD&D coverage options available.
Why Your Company Needs an Experience Global Benefits Plan Broker?
We have written several articles on why a multinational company or organization should work with an experienced global benefits brokerage like ours. More often than not, we have encountered global benefit plans that we have examined with coverage holes and rates that were not appropriately priced for the risk. Also, unlike the large consulting firms, we do not charge the large fees that the large consulting firms charge, and we deliver more tailored and personal service and support.
Here are links to some articles that discuss the advantages of working with our firm:
