Expatriate Health Insurance Blog
Monday, October 23, 2017
Living abroad can be a very exciting time. There are many changes that take place in your life, but one thing that does not change is the need for protection in the form of expatriate health insurance.
You may be under the impression that the host country will take care of your medical needs, but that may not be the case. You should have a plan that you can depend on for you and your family.
Expatriate insurance does more than cover just medical expenses. It also covers medical evacuations, trip interruption, trip cancellation and cover. If you or someone travelling with you becomes ill and cannot travel, your insurance will cover the additional expenses.
When you are living abroad and travelling for any period, having expatriate travel insurance that offers coverage for medical services is the best way to protect yourself and your family. You should have an insurance that can travel with you.
Expats are exposed to more health risks than people living in their own country. That happens due to the increased stress of living and working abroad in different climates and overall living conditions, and travelling more often. As a result, expatriate health insurance is something that expats simply cannot neglect. Here are the features of the best insurance policies:
• Coverage for hospital accommodation, diagnostic tests, surgery, surgical fees, physician fees, therapist fees, prescription drugs, surgical appliances, prosthesis, and more.
• Coverage for a parent accommodation if an insured child must be admitted to the hospital
• Coverage for day care treatment and outpatient treatment
• Coverage for rehabilitation treatment and nursing at home if necessary
• Coverage for medical evacuation, including accommodation in case ongoing treatment is required.
• Coverage for local ambulance
• Coverage for travel expenses of a family member of an insured person in case of medical emergency or death
There are numerous other aspects you should consider when acquiring expatriate health insurance depending on your personal situation and on your specific needs.
People travel or live abroad motivated by their own personal circumstances. Travelling, as well as living abroad involves higher medical costs in case you are not covered by expatriate health insurance. Depending on the length of time you intend to spend abroad there are two types of health insurance for expatriates. Short term expat health insurance covers periods between 5 days and 3 years. They do not cover travelling back and forth for a few days or weeks. It also expires when you are back in your home country. They include medical assistance, medical emergencies, and medical evacuation to the nearest center.
Long term expatriate health insurance on the other hand is more complex and requires a minimum of 1 year for coverage. It is beneficial for those who travel frequently and is also valid in the country of origin. It offers the same benefits as a short-term insurance policy but evacuation to home country, repatriation of remains, maternity benefits, and pre-existing conditions can be added as supplementary benefits.
The name of the expatriate health insurance is very suggestive as it provides instant information as to what it is. Indeed, health insurance for expatriates is providing financial protection, particularly designed for expatriates or people who live or work abroad.
Expat travel insurance is a widespread type of policy among expats since they are frequent travelers. The policy does not insure strictly luggage or flight cancellation coverage, but any other potential health risks including winter sports, emergency medical assistance and evacuation and much more.
Term life insurance policies are also very popular since expatriates are the major income providers for their families. Term life insurance can come in various forms but those for expatriates are particularly designed to meet their specific needs.
Income replacement expatriate health insurance is a third option for expatriates who wish to make certain that they are financially covered in case of accidental deaths, permanent disabilities or temporary deprivation of income. It is an important type of policy and again it should be thoroughly studied.
Whether you are living or working abroad, you need expatriate health insurance since you are not a citizen of the respective country. The public healthcare system will only cover the very basic medical services which, in most cases, are almost nothing. When purchasing expatriate health insurance you have to make sure you get the most benefits for the price you are paying.
The first thing you have to check is whether or not the insurance provider is regulated in your country of origins. In order to avoid problems upon payment of the claims, you have to make sure you choose the proper provider. Verify the track record of the company, its reputation, and the way they handle claims. Make sure you choose a reliable and well-respected insurer.
Next, you have to carefully study inclusions and exclusions. It is very important that the insurance provider covers emergency medical evacuation benefits. This is one of the most significant features that you have to pay attention to, especially if your new home is situated far from medical services.
Check the list of exclusions of the policy. Check if the exclusions are exposing you to any risks. Your expatriate health insurance should cover all potential risks that may arise in the area you are relocating to. Check also the list of pre-existing medical conditions that are normally excluded from a policy. Ultimately you need to make sure you choose the best insurance product for your situation. Remember that not all policies are the same and that the insurance market is a highly competitive market with a diversity of products.