The global economic crisis has helped to focus corporate attention not just on financial assets, but human assets as well. Attracting and maintaining key talent in the coming years will be fundamental to success, and companies around the world are taking great care to create environments, career paths and reward programmes that attract and retain people to drive business growth.
For expatriates on overseas assignments, international health insurance is frequently integral to top-end reward packages and often seen as a key executive requirement. International private medical insurance not only protects an individual’s health but also can improve corporate productivity and lower costs.
By anticipating medical outcomes, companies have greater confidence in managing healthcare costs
Data from global consulting firm PWC predicts that global mobility levels will increase 50 percent by 2020, with 71 percent of millennials wanting to work outside their home country during their career. CEOs must strategically think how to offer the most competitive benefits that protect the investment they are making in their talent.
International health insurance protects the health of employees by providing access to healthcare when they need it most. CEOs must feel confident that the international healthcare benefits they offer are of a similar quality to those that an employee receives in his or her home country. Enabling access to a large number of quality hospitals and doctors in an insurer’s network allows employees greater choice in treatment. Aetna International members, for example, have access to 1.1 million healthcare professionals globally, meaning a high standard of care is never far away. The recent acquisition of InterGlobal in the UK has only served to expand the size of the network.
Productivity up, costs down
International private medical insurers need to cater for a range of clients with unique requirements. People within the oil and gas sector, for example, often need specialised plans that include high-risk and emergency evacuation cover. This is especially true for those that work on rigs in the North Sea and other high-risk locations.
The ability and willingness of insurers to take a bespoke approach to clients can be important to both employee productivity and overall cost savings. Take the case of an Aetna wellness programme that helped to sustain a client’s healthy workforce, maintained productivity and reduced costs (see Sierra Leone case study, above).
As in the Sierra Leone example, Aetna is increasingly utilising advanced data collection and analysis techniques for the benefit of clients and their employees. Analysing data from members and health providers helps us to predict health trends, tailor plans and customise treatment. By anticipating medical outcomes, companies have greater confidence in managing healthcare costs.
What’s more, a healthy workforce is a happy workforce, especially when employees are in a foreign country without the normal comforts of home. By analysing data, Aetna can identify appropriate health programmes for companies that lead to better health outcomes and happier, more productive employees. Aetna has worked closely with clients to introduce wellness programmes, develop fitness campaigns, offer support in giving up smoking, and even assist with dietary plans.
Technology with a personal touch
Technology will play a key role supporting compliance obligations. Mobility strategies for the next decade will need to be sophisticated to deal with growing demands, but also agile, adaptable and constantly evolving.
Technology use in healthcare is emerging as a vital tool for saving time and reducing stress during what might be a difficult period. From mobile devices, Aetna members can locate the closest medical facility. This feature can be vital in receiving appropriate and timely care in a foreign country. Our app is also able to translate addresses for local transport operators. Claims can be submitted online through a secure member website or via Aetna’s secure app. This ensures greater accuracy and efficiency, which in turn lowers costs.
However, we never discount the power of personal service. Aetna’s proactive outreach programme means members receive the information and care they need in a timely manner. When a claim is received, an advisor will contact the member to answer any questions and be on hand throughout the treatment.
Talented employees are essential to drive businesses forward and they can be well-rewarded for doing so. Those CEOs who embrace growth in global mobility and develop appropriate programmes to support their employees, including effective international healthcare benefits, will be the ones well positioned for enhanced productivity and, ultimately, bottom-line cost savings.
Sierra Leone case study
A client of Aetna International operates a substantial mining site in Sierra Leone. With a tropical climate, workers are on-site for two or three months at a time, exposing them to unusual challenges and diseases, not least of which is viral malaria. Healthcare is vital to the operation’s success and Aetna International spent time to understand this complex business and develop effective solutions.
Pre-screening
Aetna International established a screening test for all new workers that needed to be completed prior to arriving. The test involved an online questionnaire that delivered invaluable information to the occupational health team in Sierra Leone about incoming workers’ health issues and allowed the team to prepare for new arrivals. The pre-screening also educated new arrivals on the dangers of not taking malaria tablets, the safe consumption of food and water and the prevalence of STDs.
Multiple client relationships
Aetna regularly met the client’s human resources team to discuss the challenges of workers at the mining site. In one instance, this understanding allowed our in-house medical team to plan for frequent interruptions to telecommunications and broadband connections at the mine site.
Regular interaction
Structured quarterly meetings were also held, in addition to other regular contact, to discuss factors such as claims and medical trends. These meetings identified a rising incidence of malaria among employees despite issuing malaria tablets. In response, Aetna was able to determine that some employees were not taking their malaria vaccines, so it developed an education programme, recommended a nurse be installed at the mine site to administer malaria tablets and regularly followed-up with employees. This programme resulted in a remarkable decline in malaria cases that has saved the client money, increased productivity and improved employee morale.