While there are many resources for small companies expanding overseas, don’t overlook health protection for your employees.

Posted on Dec 12, 2013

According to Commerce Exports, 86% of the global economic growth in the next decade is projected to be outside of the U.S. Where exporting used to be for large companies, today the playing field is more level thanks to many resources available to small and medium businesses.

These include programs such as the National Export Initiative, which helps American companies expand into the global marketplace. The Department of Commerce offers education and assistance with negotiations to break down trade barriers. The Department of State has a Direct Line Program that connects business owners to U.S. ambassadors in more than 190 countries.

In addition, today’s technological tools make it affordable and seamless to coordinate overseas operations, communicate with ease in real-time, conduct research and travel anywhere.

There is one vital component however that, if overlooked, could be the source of financial ruin: global health insurance.

The mistake that could cost your company

Sending an employee or a key executive or in some cases, the entrepreneur himself, overseas is a major investment. Most people don’t realize that a medical emergency could put the entire assignment in jeopardy. Not only would it remove an ill employee from his or her position – quite possibly for the long term, but that vacancy will impact on the overall project as well as the reputation and very future of the company.

Taking care of the health of your vital assets

Many startups have misguided beliefs about global health plans. They may believe that their domestic health plan will suffice, and that they can get reimbursed when they return to their home country. But sometimes they don’t have that opportunity.

Imagine being sick and trying to communicate your illness to medical staff who don’t understand you, and who are demanding payment before you receive care.

When an employee falls ill, what is critically important is having direct access to a world-class medical facility. Expats need high quality care, 24 hours assistance from someone who speaks their language and can communicate with a medical provider, and assurance of guaranteed payment when they need it most. In the worse case scenario, they may require evacuation out of the country to an appropriate facility, which is definitely not something a domestic plan has provisions for.

There is no need to gamble on expats staying safe and healthy. Affordable, custom-designed world-class health insurance packages are available for groups of 2 or more, and could include the following.

With 95% of the world’s population living outside the U.S., the potential is vast for businesses of all sizes that are casting their eyes overseas. Don’t let your vision for company expansion be shortsighted by overlooking global expat health insurance. Contact us today to discuss your needs.