Is Your Current IPMI Provider Meeting Your Needs?

HR leaders need to balance cost, coverage, and service when renewing international medical plans—but achieving that balance is increasingly difficult in today’s economic climate. Here are four strategies to help secure a comprehensive and cost-effective IPMI plan that aligns with your business goals.

Among the many challenges HR leaders face, managing escalating medical costs remains a top priority―especially when it comes to renewing their company’s international private medical insurance (IPMI) plan.

Several factors are driving these costs upward. Medical inflation has surged over the past few years—making the cost of international medical insurance increasingly challenging—and is showing no sign of slowing soon. In Asia, healthcare costs have risen by more than 15%, with some countries experiencing increases exceeding 25% since 2024 (opens a new window).

At the same time, economic uncertainty is pressurizing companies to scrutinize their healthcare spending. Meanwhile, expatriates and frequent business travelers are increasingly viewing IPMI as a critical employee benefit—making it a key differentiator in attracting and retaining top talent.

These pressures are compelling HR leaders to reassess their IPMI strategies. The question is: how can they maintain robust coverage while managing cost effectively?

Eliminate Plan Inefficiencies

A strategic first step is to identify and remove plan inefficiencies. Many businesses pay for coverage they do not need or experience overlaps between policies, leading to unnecessary costs. 

Conversely, protection gaps may exist. Key benefits in specific countries or treatment areas may be missing, which can result in significant costs if employees require specific care in those regions.

While approximately 80% of IPMI plans offer similar coverage, some are more tailored to meet distinct organizational needs. These nuanced plans may present opportunities for cost savings. 

Customer support is another critical factor. HR leaders often lack the time and resources to conduct thorough plan reviews. Partnering with a knowledgeable broker can help uncover inefficiencies and optimize coverage. 

Evaluating Your IPMI Provider: What to Look For and Why It Matters

When reviewing your IPMI plan, not just the coverage but also the provider deserves scrutiny. Many HR leaders assume that insurers’ initial offerings are the most competitive, but that’s rarely the case. Evaluating both the plan and the provider can unlock better value and improved service.

Working with a knowledgeable broker can open doors to alternative insurers who may offer more attractive pricing or better-aligned benefits. Brokers also help expand your search beyond a limited pool of providers—there’s a wide array of IPMI insurers globally, each with different strengths. 

When selecting or reassessing an IPMI provider, HR leaders should consider several key criteria. 

• Customization: Coverage needs vary by company, depending on demographics, the number of employees insured, and geographical footprint. A provider’s ability to tailor plans to specific requirements is vital. 

• Customer support: Given the complexity of IPMI plans, in-person support throughout the customer journey—from quotation to claims―is indispensable. Brokers play a key role in facilitating this support. 

• Technology and benchmarking: Advanced analytics allow companies to analyze their claims history, identify usage trends, and benchmark their plans against market standards―empowering more informed decision-making. 

Transitioning To a New IPMI Provider

Switching IPMI provider can be daunting, even for experienced HR professionals. However, with the right support, the process can be smooth, strategic, and highly beneficial.

Partnering with an experienced broker simplifies the transition. Brokers bring deep market knowledge and act as trusted advisors, helping organizations evaluate, source, and manage IPMI plans while identifying opportunities for cost savings and improved coverage.

A skilled broker also plays a vital role in communicating plan details to employees. They ensure that policy details—such as coverage scope, service access, appropriate usage, and claims processes—are clearly and effectively conveyed. This not only enhances employee understanding and satisfaction but also drives better utilization and overall plan efficiency.

Ultimately, transitioning to a new provider is an opportunity to realign your IPMI strategy with your organization’s evolving needs. With expert guidance, HR leaders can make informed decisions that deliver long-term value. 

Take Control of Your Healthcare Costs and International Coverage. Download our Smart (opens a new window)er IPMI Strategies for HR Leaders (opens a new window) guide today.