Unemployment in the U. S. has been above 8% for the past several years but during that same period the demand for skilled employees has increased. The engineering field has had to recruit engineers, in multiple disciplines, from outside of the U.S. in order to fulfill contracts.
The common practice is to cover these In-Patriates under an American medical program. Depending on the circumstances it could be possible to cover them under an international insurance policy at competitive premiums.
Consideration should be given to the following in addition to a regular census.
- Nationality of In-Patriates
- State work locations
- Contract requirements
- Length of work permit/visa
Contact us and use our experience working with foreign nationals working in the U.S.
Group Life insurance carriers will provide coverage as the In-Patriates would all be working in the U.S.
Group Long Term Disability carriers will provide coverage as the In-Patriates would be working in the U.S. Be careful in selecting an insurer. A disabled foreign national would probably want to return to their homeland. A U.S. insurer may not be able to coordinate rehabilitation or pay benefits overseas.
Kent International Group has access to both U. S. carriers as well as overseas insurance providers.
In-Patriates are usually added to company 401k plans as any other employees. Employers may want to re-think whether that is the best solution. In-Patriates on a limited work permit are not planning on retiring in the U. S. but in their home country. Early withdrawal can result in penalties.
Employers should consider the following:
- Check their 401k plan eligibility
Contact us for possible alternative forms of saving for retirement.