International insurance for travelers, expatriates, and organizations worldwide
GNI “International GROUP Health Insurance” / Quarterly E-Bulletin – JULY – AUGUST – SEPTEMBER, 2010
01. ENROLLING GROUPS OF 25 EMPLOYEES OR MORE
02. RETURNING TO USA, DROPPING GROUP INSURANCE?
03. SURPLUS LINES CARRIERS & ADMITTED CARRIERS
04. PARTICIPATION RATIOS – HOW MANY NEED TO BE ENROLLED?
05. INTERNATIONAL TERM LIFE INSURANCE AND AD&D
06. INTRODUCING GOOD NEIGHBOR’S GROUP INSURANCE STAFF
07. RESOURCES FOR GROUP HEALTH INSURANCE
08. MOSAIC 2010 – CROSSLINK CONFERENCE IN CHARLOTTE, NC
1. ENROLLING GROUPS OF 25 EMPLOYEES OR MORE
It is becoming more common for insurance companies to enroll groups of 25 employees or more without asking for individual enrollment forms. This is very helpful when you have employees spread all over the globe. Although they do not ask for individual enrollment forms, companies will want the Insurance Administrator to fill in a form declaring any major medical conditions in the group such as cancer, heart attack, or chronic medical problems like diabetes.
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2. RETURNING TO THE USA & DROPPING GROUP INSURANCE?
Don’t let your employees drop their group insurance until they are accepted with other coverage. Sometimes they think getting individual coverage will be easy. This is not always the case.
If they leave the organization and Cobra is an option, they should be encouraged to stay on Cobra.
If the organization’s plan does not include Cobra, there are short-term plans that will insure healthy people. One short-term plan offered by GNI is popular with workers seeking to settle into the USA. You can see this plan at http://gnshorttermhealthplan.com.
If an employee is interested in long-term individual coverage in the USA, please contact us. We can provide quotes for almost all states in the USA.
TWEET-ABLE: Returning to USA, dropping group insurance? What insurance options do I have? [Tweet This]
3. SURPLUS LINES, OFF-SHORE, AND ADMITTED INSURANCE CARRIERS
“Surplus Lines Carriers” probably provide about one or two percent of the insurance purchased in the USA. These carriers specialize in writing business the standard market doesn’t want. Examples are Americans working outside the USA, marine insurance, international liability insurance, international auto insurance, etc.
“Off-Shore Carriers” often are “Surplus Lines Carriers.” They are called “Off-Shore” because they may be incorporated in another country other than the USA, e.g., Bermuda. Because they are “off-shore” and focus on providing “Surplus Lines” insurance, they are generally free from adhering to the strict letter of domestic insurance law. Because of this, they often have more cost-effective insurance plans.
“Admitted Carriers” are those carriers that besides possibly selling international health insurance are also licensed to sell health insurance within the USA. Because they must adhere to all domestic insurance laws, their insurance is generally much more expensive than that offered by “Surplus Lines Carriers.” Another major reason “Off-Shore Carriers” and “Surplus Lines Carriers” have less expensive plans is because they are insuring people who primarily live and work outside the USA where medical care is less expensive.
TWEET-ABLE:Understanding Surplus Lines, Off-Shore, and Admitted Insurance Carriers. [Tweet This]
4. PARTICIPATION RATIOS – HOW MANY NEED TO BE ENROLLED?
It is basically a rule-of-thumb with group insurance that companies require 80 percent of employees to be enrolled in group coverage. If less than 80 percent enroll, most companies will decline to quote.
But who do you count? In general, insurance companies will exclude people on Medicare, those on any military insurance, those insured through a spouse, and in some cases, those who have national insurance, e.g., insurance in England or France. So, if you have 12 employees and 2 can be excluded from the count, you would work from the number 10. Of that 10, you could permit 2 not to join the group.
Generally, the best way to handle this is to require everyone to enroll in group insurance. Then, if a unique situation arises, you will have the flexibility to exclude an employee from the group coverage.
It is also helpful to make enrolling in the organization’s group insurance as a board decision. This way you avoid a lot of misunderstanding and tension.
TWEET-ABLE:What are the participation ratios for international group health insurance? [Tweet This]
5. TERM LIFE INSURANCE AND AD&D
Do you want a flexible term-life policy? With group health insurance everyone is required to take out the same face amount of coverage. But often individual workers want more term-life coverage than is being provided to the group. What is the solution?
You might want to take out group term-life coverage that is separate from your group health policy. Some companies may be more flexible about varying the amounts of coverage. Another option is to direct your employees to an insurance broker where they can purchase individual term-life policies. Good Neighbor Insurance has several sources for individual term-life insurance.
There also is the option of taking out a separate Accidental Death & Dismemberment (AD&D) policy. This can be relatively inexpensive. Please contact us if you want to investigate any of these options.
TWEET-ABLE:Term Life and AD&D Insurance separate from international group health insurance coverage. [Tweet This]
6. INTRODUCING GNI’S GROUP INSURANCE STAFF
GNI now helps 79 companies and NGOs with international group health insurance. Because of the service related to helping so many organizations, we have added personnel. Karen Bellas is our newest employee in our Group Division. She worked in Turkey and Bulgaria for NGOs for 14 years.
Pei Hsieh has worked with GNI for several years. She spent over five years with an NGO in Central Asia. Pei is a Chinese American coming from Taiwan to the USA when she was eleven years old.
I worked in Indonesia for 30 years with an NGO. I spent most of my time in East Java, but the last 10 years in Jakarta. I returned to the USA in 1997.
Because of our overseas exposure, we have a good understanding of what your international employees need concerning international health coverage. Please contact us soon and let us help you.
7. RESOURCES FOR GROUP HEALTH INSURANCE
We have produced insurance bulletins like this one for many years. We are archiving all unique articles on our website at https://www.gninsurance.com/group/. This “Landing Page” is completely dedicated to group insurance matters. There is a section set aside for “Tips to Understanding Group Health Insurance.” Another section deals with “Steps to Group Insurance.” In fact, the forms you will need to fill out for a group health insurance quote are also on this website. If you have any suggestions for making the site more user-friendly, please let us know.
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