Companies in the UK should consider taking advantage of increased state investment in cancer and cardiac care by amending their employee benefits, according to Mercer.
However, the firm is warning that multinational companies should also be aware that in many other European countries, state-funded care is in retreat, with responsibility for healthcare and rising costs “shunted onto employers and individual employees”.
For example, the German Government is seeking to raise employer and employee contribution rates to the social insurance scheme and in France the level of reimbursement for healthcare costs continues to decline.
As complex healthcare reforms are rolled out across the continent, Mercer is advising multinational clients to establish more local teams to oversee healthcare benefits, rather than relying on one central office to take an "arms length approach". The employee benefits consultancy believes that companies may need to hire more specialist staff to manage risk benefits, including healthcare, sharing expertise with local HR and benefits mangers.
"Companies are having to rapidly adapt their benefit plans to ensure regulatory compliance and manage their costs," said Paul Ashcroft, principal at Mercer. “And more rarely, to know when to take any advantage of increased coverage being provided by the state. For many firms, in many markets, this is beyond current staff capabilities.”
Source: http://www.hi-mag.com
However, the firm is warning that multinational companies should also be aware that in many other European countries, state-funded care is in retreat, with responsibility for healthcare and rising costs “shunted onto employers and individual employees”.
For example, the German Government is seeking to raise employer and employee contribution rates to the social insurance scheme and in France the level of reimbursement for healthcare costs continues to decline.
As complex healthcare reforms are rolled out across the continent, Mercer is advising multinational clients to establish more local teams to oversee healthcare benefits, rather than relying on one central office to take an "arms length approach". The employee benefits consultancy believes that companies may need to hire more specialist staff to manage risk benefits, including healthcare, sharing expertise with local HR and benefits mangers.
"Companies are having to rapidly adapt their benefit plans to ensure regulatory compliance and manage their costs," said Paul Ashcroft, principal at Mercer. “And more rarely, to know when to take any advantage of increased coverage being provided by the state. For many firms, in many markets, this is beyond current staff capabilities.”
Source: http://www.hi-mag.com
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