Aetna International, the international arm of Hartford, Connecticut-based health insurance provider Aetna, has launched a new insurance product that it says is designed specifically for non-US headquartered companies that have, or plan to hire, American citizens who are based in the US.
Access US, as the new product is called, is compliant with the Affordable Care Act (ACA), and although it is designed for organisations with 50 or more total employees globally, “only two employees need to be based in the US to implement” an Access US group plan, Aetna says.
Aetna International is offering the new coverage in conjunction with Total Benefit Solutions (TBS), a Bellevue, Washington-based US and international health insurer, which has partnered with Aetna on other products for more than 18 years.
Under the new scheme, companies are able to place all of their US employees on a single ACA-compliant, composite rate structure. Nine standard plans are available for organizations of two to 20 enrolled US employees, according to Aetna, with customised plans available to organisations with more than 20 employees in the US.
According to Damian Lenihan, executive director of distribution for Aetna International, the Access US product solves a complex and costly problem non-US companies have wrestled with previously: how best to provide “standardised yet comprehensive international health insurance to their American employees based in the US”.
All of the Access US plans provide US benefits as well as international cover. The standard deductibles range from no fee up to US$3,000, with dental and life cover among the available options, according to the company.
TBS compliance, admin support
Among the advantages of having TBS as a partner in the Access US launch, according to Aetna, is that it is exceptionally knowledgeable with respect to the relevant federal and state laws and ACA rules and reporting requirements, thus enabling clients and their employers to benefit from “comprehensive” compliance, administration, enrollment and ongoing service support. It also enables international brokers the opportunity to receive compensation where allowed by law for business referred and placed, Aetna notes.
Thus far, Lenihan says, the product seems to have been well received.
“A number of our broker-partners have proposed Access US to their clients, and are seeing an encouraging take-up,” he said.