Expatriate Health Insurance Blog
Monday, February 19, 2018
People living and staying away from their homeland always face many difficult challenges in their countries of residence. This calls for an appropriate health policy that would help the expatriates in managing medical risks. To find the best expatriate health insurance policy in the foreign country, it is advisable to take time to study how the systems work in the given country, as chances are high that procedures won’t be the same as in the home country. After understanding the system in the new country, you are expected to choose the right policy that would help you manage medical risk.
One of the people that are most likely to help you choose the right policy and may influence your choice of the policy provider is the doctor. Choose a doctor who can help you make good health decisions and help you live healthily in the foreign country. Make sure you are close to at least one doctor who can then advise you on the policy that best covers your health concerns.
Another factor that can influence your choice of the insurance policy is your view and decision on having a baby abroad. In case you are planning to have a baby in the foreign country, choose a policy that will cover all of your family members. If you don’t plan to have a baby, covering the same won’t be necessary.
The way health insurance is important in the native country is the same way expatriate health insurance is important for expatriates in the foreign country. Care must be taken so as to choose the best policy.
There are many aspects of expatriate health insurance that are not known to the general public. Here are the most common questions related to this type of insurance:
• Is expatriate health insurance an international insurance plan? Yes. It is an international insurance plan because it provides cover internationally.
• Can anyone buy expatriate insurance? No. Only the persons who live outside their country of residence.
• Can companies buy expatriate insurance? Yes. Companies, families and groups can get this type of coverage. It is even advisable for companies to insure their employees when they travel to, live in or work in other countries.
• Is travel insurance better than expatriate insurance? No. Travel covers only the travelling risks of an expatriate and not the risks of living and working in another country.
• Are there any age restrictions for expatriate insurance plans? Yes but they are not the same for all insurance providers. For most, the maximum age is 65.
• Do expatriate insurance plans have deductibles? Yes. It is the minimum amount that you agree to pay before making an actual claim. It is used to eliminate small claims by the insurer or to reduce monthly premiums for the insured.
Expatriate health insurance plans are among the most flexible and versatile types of insurance products. They can vary depending on insurance provider, policyholder, and from country to country as far as terms, conditions, and coverage. It is an insurance product with a number of variables that must be considered before buying one. It can cover health risks in a very comprehensible manner, but it needs to be properly tailored to serve the particular needs of each individual or group.
Expatriate health insurance is an insurance policy geared towards people who spend more than just their holidays outside the borders of their country. There are many factors that can influence this type of insurance and here are some of the essential ones:
• Personal Needs and Expectations. People become expatriates for various reasons. Depending on those reasons, the health insurance for expatriate people will be different. There are expat insurance policies for international students, freelancers, soldiers, or for people who are working sent by their employers.
• The Health Insurance System in the New Country. More developed countries allow expats to pay monthly contributions to the healthcare system and thus get coverage for certain health services similar to what a citizen of that country would. But that is not the case in less developed countries.
• Current State of Health. Naturally, the premium for your expat health insurance will be lower if you are healthy and fit. But, if you suffer from pre-existing conditions, your health insurance premium will be higher.
• Insurance Level. Insurance providers do not offer a universal coverage plan for all expatriates. They have different insurance levels and each level means a particular coverage level and also a certain premium amount. Depending on health condition, money situation, and health system, you can choose the most suitable level for your health insurance.
• Material Situation. Again, this is an important element. Expatriate health insurance has a certain level of deductibles. The higher the amount of deductible, the lower the premium will be. If your earnings and overall money situation allows you, you can choose an insurance with higher deductibles.
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Ten years ago, it would have been inconceivable that expatriate health insurance companies would cover pre-existing conditions. Nowadays, people can benefit from insurance coverage in this respect. It is also true that not all insurance providers would take the risk of protecting a policyholder against conditions that he or she is known to suffer from.
Not only did insurance companies not cover preexisting medical conditions, but they did not cover any other medical condition that may have been related to or triggered by it. Therefore, high blood pressure would cause additional exclusions for angina, heart attacks, strokes, or thrombosis, for example. This vicious circle continued even if the condition was kept under control with medication.
When you travel in a foreign country and you make your home there and your workplace, you become an expatriate. But being an expatriate does not make you immune to illness. In fact, on the contrary, the new living circumstances may aggravate your existing conditions or may trigger new attacks. In this case, expatriates need to pay even more attention to how they choose their health insurance and to the inclusions and exclusions of the policy.
Although pre-existing medical conditions will probably determine a higher premium on your expatriate health insurance, it is recommended that people get covered given the physical and emotional stress that they are exposed to when living in a new environment. As an expatriate, you have to keep in mind that your health insurance premiums are not necessarily high due to your pre-existing medical conditions. Other factors influence insurance premiums, including healthcare costs in the new country you are moving to.