With many Mexican workers employed in construction, maintenance, service, and production sectors, the U.S.-Mexico remittance is robust and Mexico is the third-largest receiver of remittances. In fact, $28 billion is sent to Mexico each year. In March 2020 remittances reached $4.02 billion – a $36% increase from 2019.
This financial flow is unlikely to decrease because family obligations are at the heart of Mexican values. Additionally, the U.S. dollar and Mexican peso exchange rate allows U.S. currency to stretch further in Mexico.
As the U.S.-Mexico remittance continues strong, VensureHR provides the resources employees need to support their families without compromising the integrity and value of healthcare services provided. Cross-Border Benefits is a program that offered to U.S.-based employees as a secure way to transfer funds to pay for healthcare benefits for family members or friends in Mexico.
The program includes access to a comprehensive network of healthcare providers and services for a nominal fee each pay period so employees can pay for their family members and friends’ healthcare benefits.