A new partnership will help advisors manage benefit costs for multinational clients.
Employers competing for the best talent on the market recently got a boost with a new partnership that will keep employee benefit costs in line for international workers in Canada.
“Expat employees require a high level of insurance," said Jason McCormick, Practice Lead & Vice President International Benefits, Cowan Insurance Group. "By tapping into Cowan’s network of providers and our cost mitigation strategies, these organizations are able to continue to provide competitive benefit programs,”
Cigna Global Health Benefits has partnered with Cowan Insurance Group to expand the CignaLinks network in Canada and bring its medical, dental, vision and pharmacy benefits to Canadian expatriates and their family members.
“All of our clients are very focussed on affordability,” said Sheldon Kenton, senior vice president of Cigna Employer Sales. “One of the things this does for our clients is guarantees them reasonable cost relative to what a Canadian in Canada would expect to pay.”
The relationship is unique because it integrates the expatriate health plan with the provincial plans.
“For the most part, these individuals aren’t aware of the regulations,” said McCormick. “Cowan will manage the administration of the provincial enrollment application for these individuals. Where they’re eligible they’ll participate in the provincial programs, and Cigna will offset any additional expenses they’re eligible for after the provincial program.”
Also, with regulations becoming increasingly important, this partnership can also help multinationals make sure they don’t run afoul of regulators.
“Compliance is a big issue for multinationals and no multinational wants to find itself with foreigners in a country where they are ignoring accidentally albeit the provincial requirements of being part of a plan,” said Kenton. “So that’s a piece of mind issue that’s of growing importance.”
“Expat employees require a high level of insurance," said Jason McCormick, Practice Lead & Vice President International Benefits, Cowan Insurance Group. "By tapping into Cowan’s network of providers and our cost mitigation strategies, these organizations are able to continue to provide competitive benefit programs,”
Cigna Global Health Benefits has partnered with Cowan Insurance Group to expand the CignaLinks network in Canada and bring its medical, dental, vision and pharmacy benefits to Canadian expatriates and their family members.
“All of our clients are very focussed on affordability,” said Sheldon Kenton, senior vice president of Cigna Employer Sales. “One of the things this does for our clients is guarantees them reasonable cost relative to what a Canadian in Canada would expect to pay.”
The relationship is unique because it integrates the expatriate health plan with the provincial plans.
“For the most part, these individuals aren’t aware of the regulations,” said McCormick. “Cowan will manage the administration of the provincial enrollment application for these individuals. Where they’re eligible they’ll participate in the provincial programs, and Cigna will offset any additional expenses they’re eligible for after the provincial program.”
Also, with regulations becoming increasingly important, this partnership can also help multinationals make sure they don’t run afoul of regulators.
“Compliance is a big issue for multinationals and no multinational wants to find itself with foreigners in a country where they are ignoring accidentally albeit the provincial requirements of being part of a plan,” said Kenton. “So that’s a piece of mind issue that’s of growing importance.”
