by David Boucher, president and CEO, Companion Global Healthcare
Akin to the part in “It’s a Wonderful Life” when Mr. Potter was buying while all others were selling, the current downturn in the U.S. economy is an ideal time for employers to consider adding an international medical travel benefit to their health plans. And since the benefit can be easily and inexpensively added mid-cycle, there is really little need to wait until Jan. 1.
Some employers have taken an iterative approach by simply including an international medical travel option as a “value-added” service for any non-covered services or treatments for pre-existing conditions. This is for services that might not be covered by the employer’s standard benefit plan, and it provides associates with credentialed medical care at a lower cost. It also signals to the employees that management recognizes the rapid improvement and safety in care abroad. With a growing diversity in the workplace, this also appeals to certain employees who might want to receive care in their country or region of origin (i.e., Mexico, Puerto Rico, India, Thailand, etc.). Then, at the time of annual benefit renewal, employers have added a full-blown benefit that incentivizes their associates to travel abroad for care. For instance, my personal benefit plan covers knee replacement at 100% if I travel to an international hospital in Companion Global Healthcare Inc.’s network–while my out-of-pocket expense to have it completed locally is $3,500. That’s a bunch of dough … even in good economic times!
Another option for employers to consider is pairing a medical travel option with a limited benefit health insurance plan. Companion Global Healthcare contracts with BasicPlus Insurance Services for BasicPlus’ FlexMED plan. This is a fully insured, limited benefit plan that allows employees to stretch significantly the coverage provided by their employers. FlexMED blends domestic (U.S.-based care) with Companion Global Healthcare’s network. Plans can include groups of as few as three participants and are guaranteed issued. They are perfect for chambers of commerce, association groups, and almost any employer group. Employers control the costs, based on benefit selection.
These plans pay for:
- Doctor’s office visits
- Diagnostic X-ray and lab services
- Prescription drugs
- Emergency room visits
- Hospitalization and surgery (including the Companion Global Healthcare network)
- Critical illness treatment
The high option under this FlexMED plan covers up to $2,000 per day for inpatient care. This “$2k per Day” goes significantly further at Companion Global Healthcare facilities than it does domestically.
A Latin Twist
Companion Global Healthcare contracts with two Joint Commission International-accredited hospitals in Mexico, two in Costa Rica, one in Brazil, one in Spain, and two in Puerto Rico. The latter locale, in fact, is the only current Caribbean destination with Joint Commission-accredited hospitals. Picture this: A non-stop, 3 ½-hour flight from the East Coast of America, U.S.-educated and board-certified physicians, CyberKnife & da Vinci Robotics, U.S. currency, great food, casinos, and pristine beaches. Puerto Rico is home to HIMAHealth, and no passport is needed for U.S. citizens. Direct flights from the U.S. also allow CIMA hospitals in Monterrey and Hermosillo, Mexico, as well as Clinica Biblica and CIMA Hospital in San Jose, Costa Rica, to be easily accessible. Centro Medico Teknon in Barcelona, Spain, is yet another JCI-accredited facility that is affiliated with New York’s Sloan-Kettering Cancer Center. And Sao Paulo, Brazil, is home to Albert Einstein Hospital–a 489-bed (and growing) facility. All of these facilities offer both English-speaking nurses and physicians.
The fully insured FlexMED limited benefit plan is an excellent way for employers to avail their employees to care with a Latin flair … whether it be via a 10-hour flight to Barcelona or Sao Paulo, or a sub-four-hour flight to Mexico, Costa Rica, or Puerto Rico.
