Jeffrey Wade
International medical insurance is a type of insurance that covers individuals who are living, working, or travelling outside of their home country. It is designed to provide peace of mind and comprehensive healthcare coverage for those who need access to quality healthcare services globally. International medical insurance is intended for long-term stays, with some plans requiring a minimum of one year, and covers emergency and routine healthcare, including hospital stays, routine check-ups, pre-existing conditions, chronic conditions, maternity care, dental care, and mental healthcare. It is important to distinguish international medical insurance from travel insurance, which is intended for short-term trips and provides basic medical coverage for emergencies.
| Characteristics | Values |
|---|---|
| Purpose | Cover for people leaving their home country |
| Coverage | Emergency and routine healthcare, evacuation services, trip cancellation, lost luggage, travel delay, dental care, mental healthcare, pre-existing conditions, chronic conditions, maternity care |
| Duration | Long-term (12 months or more) or short-term (less than 12 months) |
| Who is it for? | Expatriates, students, foreign nationals, frequent business travellers, individuals who spend significant time living outside their home country |
| Who provides it? | Allianz, UnitedHealthcare, Cigna Global, NerdWallet |
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What You'll Learn
International health insurance vs travel insurance
International health insurance and travel insurance are both intended for people spending time in a country other than their home country. However, the intended purpose of each product is different. Not understanding this difference may leave you with the wrong international medical insurance and unexpected medical expenses.
The main difference between expat insurance and normal travel insurance is the duration of coverage and the level of protection provided. Expat insurance provides coverage for a longer period and complete health coverage, while travel insurance is intended to cover short-term trips. Travel insurance provides basic medical coverage and may include benefits such as trip cancellation, lost luggage, and travel delay.
International health insurance is designed to provide a comprehensive level of healthcare to those relocating from their home country for a sustained period of time. It covers treatment for both emergency and routine healthcare and provides expats with flexibility in terms of choice of doctor and treatment facility, with the ability to receive treatment anywhere within their region of cover. If you are relocating or have a home abroad where you spend a significant amount of time, international health insurance may be required.
Travel health insurance is similar to domestic health insurance and may cover things like check-ups, visits to your primary care doctor, mental healthcare, and prescriptions. Unlike travel insurance with emergency medical benefits, travel health insurance may require medical underwriting (a review of your medical history) and the payment of deductibles. Travel insurance with emergency medical benefits is designed to cover serious, sudden, unexpected illnesses, injuries, or medical conditions that could cause serious harm if not treated. It is intended to provide short-term emergency medical treatment to get you well enough to return home. If further treatment is required, you will usually be expected to return to your home country.
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Who is eligible for international health insurance?
International health insurance is designed for people who spend long periods overseas, either working, travelling, or living abroad. This includes students studying abroad, expat professionals, expat couples, and established expat families.
To be eligible for a global health policy, you must already have a plan to reside outside of your home country on or before the policy's effective date. Most global plans require you to apply 30 to 45 days before your departure date. The common eligibility criteria for most international health insurance plans is that you should live or be living in a foreign country for at least 3 months per year.
Some insurance providers may not be able to sell policies to individuals who are coming from or going to a few select countries. Additionally, some providers may not cover pre-existing conditions, and you may be required to provide your medical history and additional medical information upon application.
International travel medical insurance typically covers emergency medical, dental, and evacuation services, as well as trip-related circumstances like trip cancellation, trip interruptions, or lost baggage. It is important to note that travel medical insurance only covers medical emergencies and evacuations, while travel protection plans offer more flexible benefits that include trip delays, cancellations, and unexpected healthcare needs.
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What does international health insurance cover?
International health insurance is designed for those who are relocating or living in a foreign country for a prolonged period of time. It provides comprehensive health coverage, including emergency and routine healthcare, diagnosis, and post-treatment care. This type of insurance is ideal for expatriates who need access to quality healthcare globally.
The benefits of international health insurance vary by plan, but they often include complete health coverage, allowing expats to choose their preferred doctor and treatment facility. This flexibility is especially important when living in a foreign country, as it ensures access to the best available medical attention.
International health insurance plans typically cover emergency medical, dental, and evacuation services. Some plans may also include travel protection benefits, reimbursing travellers for missed connections, trip delays, cancellations, and baggage loss. These additional benefits provide financial protection and peace of mind while travelling.
It is important to note that international health insurance is different from travel insurance, which is intended for short-term trips and provides basic medical coverage. Travel insurance may include benefits such as trip cancellation coverage, lost luggage reimbursement, and travel delays. However, it rarely covers long-term medical treatment, and further treatment may require returning to one's home country.
When considering international health insurance, it is essential to review the specific coverage details, as plans can vary. Understanding your insurance options and choosing the right plan ensures that you are adequately protected and can access the necessary healthcare services while living or travelling abroad.
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How long does international health insurance last?
International health insurance is designed for those who are living and working outside of their home country for a year or longer. It is an annual agreement that is often renewable annually or until a specified termination date. The duration of cover depends on the insurer and the type of plan chosen, with some plans offering long-term cover of 12 months or more, and others providing short-term cover of six months or less.
Long-term international health insurance is ideal for expatriates, students, and foreign nationals who need comprehensive medical coverage for pre-existing conditions, long-term care needs, and other health-related costs and issues. It is often a requirement for those who are studying or working abroad long-term, as they may not be covered by either public or private health plans in their home country, and may not have access to the national health insurance program in their destination country.
Short-term international health insurance, or travel insurance, is designed for people visiting another country on holiday or for a short break. It typically covers emergency medical treatment and travel-related issues such as flight cancellations, trip delays, and protection against loss of personal items. Travel insurance is ideal for short-term trips of a few months or less and can be purchased as little as 24 hours before travel departure.
It is important to carefully consider the duration of cover required when choosing an international health insurance plan, as well as the specific benefits and coverage limits offered by each plan.
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How much does international health insurance cost?
The cost of international health insurance varies significantly, with basic cover starting from as little as $500 per year and comprehensive cover costing upwards of $10,000 annually. The average cost of a global health insurance plan is $5,200 per year, but this can vary depending on several factors.
One of the most significant factors influencing the cost of international health insurance is location. Private healthcare costs vary between countries and regions, with the United States being the most expensive country for expat health insurance premiums. Other countries with high healthcare costs include Singapore and the United Kingdom. On the other hand, Thailand and several European countries, such as Germany, Sweden, and Iceland, are known for having more affordable healthcare.
Age is another critical factor that affects the cost of international health insurance. As individuals get older, they tend to require more medical care, resulting in higher premiums. Younger clients typically pay less for their coverage, while premiums increase dramatically with age.
An individual's medical history can also impact the cost of their insurance. While medical underwriting is required by international healthcare companies, pre-existing medical conditions may not be covered by private insurance plans. In some cases, individuals may need to pay an additional premium to obtain coverage for pre-existing conditions.
Optional extras, such as dental care, outpatient treatment, or maternity cover, can further increase the cost of international health insurance. Additionally, the level of cover required, such as student, family, or individual plans, will also influence the premium.
It is worth noting that the cost of medical care is rising globally, which is contributing to an increase in insurance premiums. However, working with a broker can help individuals navigate the various options and find a plan that suits their needs and budget without incurring additional costs.
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Frequently asked questions
International medical insurance is a type of insurance that covers individuals who are living, working, or travelling outside of their home country. It provides coverage for emergency and routine healthcare, depending on the plan.
International medical insurance is typically needed by expatriates, students, or individuals who spend a significant amount of time abroad. If you are travelling for a short period, you may only need travel insurance.
International medical insurance plans can cover a range of services, including hospital stays, routine check-ups, pre-existing and chronic conditions, maternity care, dental care, mental healthcare, and more. Some plans also offer additional benefits such as evacuation services, lost luggage, and travel delays.
When choosing an international medical insurance plan, consider the duration of your trip, the level of coverage you need, and your specific health requirements. Compare different plans and choose one that suits your needs and budget.
You can purchase international medical insurance from various insurance providers. Compare the plans and prices offered by different companies and choose a reputable insurer that meets your specific needs.
