Expatriates who live and work outside their own country and other regular global travelers who often travel and live outside their home country must be aware of the limitations of their domestic health insurance which usually does not provide coverage outside their home country. As a foreign citizen, the expatriate will not be eligible for local subsidized medical care. Given that the price of healthcare in different parts of the world is rising drastically and also that the quality and price of healthcare vary significantly even within a country, it is important to buy good worldwide health insurance so that you can access quality healthcare globally.
There are different global medical insurance options that are popular among expats residing outside their home country. There are some more affordable fixed benefit global plans with pre-defined limits in the coverage they offer for different medical expenses which suffice for basic health care. There are also comprehensive global health insurance options which provide extensive healthcare cover up to the policy medical maximum usually available up to 8 million US Dollars. The benefits offered by global medical insurance are coverage for pre-existing conditions, maternity, preventive care, vision, dental expenses as well as medical evacuation.
The important factors that determine the cost of global health insurance are the expatriate's age, the past health status, the country where coverage is needed, the medical maximum coverage required, the deductible, the mode of payment (annual, monthly..) and any customized coverage for maternity, pre-existing conditions, prescription drugs..
The age of traveler is one of the primary factor that determines the cost of insurance, therefore the older the insured the higher the cost of global health insurance when compared to younger expatriates.
Next is the destination country, the plans have 2 coverage options, Worldwide and Worldwide excluding USA, For countries like USA where the health care is sophisticated but expensive the cost of medical coverage is higher when compares to other countries.
The existing health record of the expatriate is another factor that determines the cost of global insurance. If the expatriate has any pre-existing ailment and would want healthcare treatment for that ailment, the cost of global insurance would be higher.
The higher the plan medical maximum the higher would the cost of worldwide health insurance.
The lower the deductible, which is the initial amount the expatriate has to pay before the insurance pays, the higher the cost of expat insurance. Some plans can be customized based on the expats requirements using optional riders. This include coverage for RX drugs, maternity and comprehensive coverage for pre-existing conditions.
For expatriates both individuals and families who are living outside their home country for a long duration of over one year, the Global Medical insurance plan is ideal. These Global international health insurance plans are similar to domestic health insurance plans or health insurance offered by US employers. These global medical insurance plans provide exhaustive coverage which includes preventive care and coverage for pre-existing conditions. These international medical insurance plan applications are reviewed by the underwriter and approval is not guaranteed. The international health insurance plans are renewable on an annual basis.
As an expat if you have lived in a foreign country long enough, some local health insurance plans may be available to you. However the US based Global medical plans that we offer on American Visitor Insurance are available to you as an Expat in the foreign country you are currently residing, as well as in other countries that you visit and even in your home country when you visit back. These plans also work with reputed provider networks giving you a broad choice of hospitals and health care providers.
It is important to be covered with International health insurance before you leave your home country which is usually part of the eligibility for these plans. The Global medical insurance application process can take time as the application in reviewed by the underwriting team. There might be requirements of medical documents and records of earlier treatment to confirm your current health condition.
Given this, we recommend that you apply for the Global medical insurance plans at least a month before the actual travel date. This should be adequate to complete the application process and ensure that you are covered before your leave your home country.
There are different factors that you should consider when you make this important decision for International health insurance when you are in a foreign country. Among the important factors are the health care network in the country that you will be residing, and the network coverage offered by the International health insurance provider. The cost of the global medical insurance is another important factor which depends on whether you are buying a comprehensive global medical plan or a fixed benefits global medical insurance plan. The comprehensive plans are more expensive but offer exhaustive coverage including preventive care. The Fixed benefits plans offer limited coverage with fixed amounts for different medical situations. It is important for you to understand the coverage benefits before making this decision. You can call us at 877-340-7910 or email us to get support from a licensed
The eligibility criteria varies from company to company, and it is recommended that you review the specific policy brochure. However in general US citizens are eligible for the Global medical insurance plans if they reside outside the US for at least Six months in a calendar year.
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