International Health Insurance includes a range of coverage for emergency and routine healthcare for persons living, studying, or working in an oversea country. This is usually for those staying for more than one year and gives them access to private healthcare in the country of residence. International medical insurance plan is available to individuals and families as well as companies who wish to provide health coverage to their staff working abroad. This insurance coverage includes:
- Evacuations in Medical or other emergencies
- Medical care expenses
- Maternity coverage
- Consultation with specialists and prescription drugs
- Treatment for Cancer
- Emergency care for family members whilst oversea
- MRI, CT, and PET scans
- Surgical care even when not admitted to a hospital
- Dental treatment even those that require hospital admission
How does international health insurance work?
Generally, international health insurance policies are designed for annual coverage with the option for monthly or annual installment payments.
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Now depending on your health insurance provider’s policies, you can make claims to cover medical treatments and care when you fall sick or suffer injuries. However, in some cases, you may be required to cover any excess charges accrued from your treatment.
What are the benefits of international medical insurance?
- International medical insurance covers your foreign healthcare costs: Access to healthcare and its cost implication vary from country to country. While some countries have a public healthcare system, others might have a system that requires patients to make full or partial payments for the medical treatment received. In fact, it is common in most countries that there is no free public healthcare for foreigners. However, with an eligible international healthcare insurance, you are guaranteed coverage for private hospital bills which gives you peace of mind to concentrate on your health. Also, in cases of an emergency, the international health insurance policy may also provide coverage for transport expenses and even repatriation where necessary. Furthermore, international health insurance policies are usually not restricted to any particular country or region. You can pick coverage to any country/region or even worldwide as suits you; however, going abroad solely to receive medical treatment is not allowed in the international health insurance plan.
- More flexibility and control: A major benefit of international medical insurance is that consumers have a better grip on their healthcare decisions like choosing which doctor(s) they want to see, the type of treatment, and the hospital.
- It also offers additional cover: Most international medical insurance policies include coverage for medical evacuation and repatriation in cases of emergencies or where the patient cannot be treated in the country of residence. Other optional benefits may include maternity, dental, and optical cover.
Finally, different international medical insurance providers offer their own benefits, so it’s always recommended to compare their policies so as to find the best that suits your individual needs.
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Who needs International Health Insurance?
International Health Insurance policies are well-suited for expats to ensure they get the best healthcare in their countries of residence. This medical insurance policy is recommended for:
- Individuals and families relocating overseas permanently,
- Individuals wanting to retire abroad,
- Individuals studying, volunteering, or working overseas for a set period of time,
- Multinational employers,
- Frequent business travelers and others in these categories.
How much does international medical insurance cost?
Generally, the cost of international medical insurance is higher than the average health insurance plan. Health insurance companies consider the following while determining your international medical insurance premium:
- Age: age is an important factor that influences all health insurance plans and international medical insurance is no different and as always, the premium is higher the older you are.
- The country you are moving to: If the country you are relocating to has an expensive healthcare system, you should expect higher premiums.
- Your medical history: Some providers might include coverage for your pre-existing conditions in the international health insurance plan; however, that would also likely increase your premium.
- Finally, the more options included in your plan, the higher the premium will become.