Are you looking for an international health insurance plan that suits your requirements and budget and can protect your healthcare needs abroad?
With many different options to choose from, it can be challenging to know where to start when it comes to comparing plans. You could consider using a broker to support you with this, who will guide you through the process and help you navigate the health insurance market.
Continue reading for some useful tips that can assist you in choosing an international health insurance plan that is right for you.
International medical insurance is designed to cover you against the cost of medical treatment when you’re living working, studying or travelling abroad, and can be a pre-requisite when applying for a visa for some countries.
It can provide fast access to eligible medical care in leading private medical facilities around the world, giving you reassurance that you’re able to seek medical treatment if you need it.
Additionally, international private medical insurance (IPMI) can offer you a large amount of flexibility. For example, you might have the freedom to choose who provides you with medical care as well as where you have your treatment.
If you’re currently in the process of moving abroad, check out our blog for detailed information about how you can prepare for this big life moment.
There are lots of different factors to consider when purchasing a health insurance plan, including your budget, the level of cover you need and the geographical area of cover. Let’s take a look at some of these in more detail.
One of the many benefits of international medical insurance is that it can be tailored to your individual needs, so having a good understanding of what you want included can be beneficial when comparing plans.
Create a list of your top requirements and keep this with you when you’re researching different plans or discussing your requirements with a medical insurance broker. Some factors to think about include:
Ensure you read all information provided carefully to find out what is and isn’t covered in the plan, as there could be some exclusions.
For example, pre-existing medical conditions are usually excluded, as well as cosmetic treatments, assistance with reproductive treatments and alternative medicine.
Maternity care isn’t generally covered either, though some providers may cover you for complications relating to the pregnancy. If you do want this as part of the plan, there will normally be a waiting period before you can become insured for it.
Cost is another crucial factor to consider during the process. This can vary based on a number of factors, including the type of cover you choose, your age, and where you’re relocating to. If you have a broker, discuss your budget with them and check what options are available to reduce the cost of cover.
There could also be extra costs involved, like if you have an excess or if the plan includes out-of-pocket payments (this could apply when cover for certain services isn’t available or if benefit limits have been reached).
Having an excess in your plan is something to consider if you want to reduce the cost of your premium. This is agreed upon amount with your provider and can work in a couple of different ways:
The country you’re moving to could impact the premium amount, as the cost of medical care can vary significantly between different countries.
However, many insurance providers offer cover by geographical area, so look out for this when you’re comparing plans. If you have a broker, make sure you let them know about your specific requirements, and they will be able to find a plan that best fits your cover needs.
Including multiple regions in your plan can be beneficial if you travel a lot, while opting for cover in one particular region can help lower the cost of your premium.
Take your time when it comes to choosing a health insurance provider, as it is important you feel comfortable with your decision and confident that they meet your individual needs. Below are some tips that can support you with this.
The standard of customer experience is an important consideration. For example, check how easily they can be contacted, as many providers will offer 24/7 accessibility, and what communication methods they utilise.
Quick and efficient processes could be a priority for you, so it’s worth finding out how long it would take you to receive reimbursement for medical costs if you needed to use the health insurance.
Looking at customer reviews is another way you can assess what their service offering is like and how quickly they resolve issues. If you enlist the support of a broker, they often have good relationships with providers in the industry, which helps them to obtain a good price for customers.
Using a broker to purchase a health insurance plan can have many benefits. For example, they offer convenience by researching different options on the market so you don’t have to, and can even save you money by getting insurers to price match and secure you the best deal.
They can provide you with personalised support throughout the journey, using their specialist knowledge to help you navigate the complexities of the market and explain any terms that are difficult to understand.
Find out more about how a medical insurance broker can assist you in selecting health insurance here.
