United Kingdom: Expat plans have significant tax consequences

Think an expat medical plan is a perk for your executive level employee working overseas in the UK? It is. Indeed this benefit offers convenience, shorter wait times, and access to private hospitals by letting the employee bypass the government’s healthcare system. So why might your enrollment be low?

Expat plans are often pricey, and employer sponsored medical benefits are treated as income in the UK and are taxed. For people making over £150,001 a year after ‘allowances’ are deducted, the tax rate can be upwards of 45%.

LOWER COST YET RICH OPTIONS TO CONSIDER

Punter Southall Health & Protection offers a rich, domestic plan call Encompass that’s underwritten and serviced by Axa. It is a popular plan for city firms looking for richer benefits. It includes cover for chronic conditions which aren’t typically a feature of domestic health plans.

They also have a partnership with 24-Med that allows employees to access care quickly. This includes virtual visits with healthcare providers and prescriptions.

NEED ASSISTANCE WITH BENEFITS IN THE UK?

For direct assistance with your UK benefits, Asinta is happy to help you contact Punter Southall Health & Protection.