What is International Health Insurance?
What many travelers do not know is that their current health insurance may not cover injuries or illnesses manifesting while abroad. International health insurance, also known as travel medical insurance, is designed to cover major medical expenses you may incur as a result of an unforeseen accident or sickness while you are traveling outside your Home Country. International health insurance helps protect you and your wallet while traveling abroad.
International health insurance is ideal for:
- Individuals and/or families vacationing abroad
- College students or scholars studying abroad
- Individuals and/or groups serving as missionaries
- Individuals relocating outside their Home Country
- Employees living and working internationally
What to look for when purchasing international health insurance:
Security Matters. One of the most important things to research is whether your choice of insurer is financially sound. This can be checked using any of following rating systems: Fitch Ratings, A.M. Best Company or Standard & Poor’s. When it comes to insurance, you need a company you can trust. Your security matters and finding a financially stable insurer is key to choosing a company that can stand by you in your time of need.
Coverage. If you are seriously injured or fall ill, is your hospital stay covered under your policy? If you become ill or injured while traveling, is there any coverage for follow-up treatment once you return home? What a potential policy excludes is just as important as considering what injuries or illnesses your policy covers.
Customer Care. You may not always encounter health-related problems, which is why it is important to consider whether a potential insurer offers additional services. Emergency Travel Arrangements? Language assistance? If you lose your prescriptions, will they help you replace them? If you lose your luggage, will they help you find it?
Convenience. Some companies will only allow you to purchase the policy before your departure date. Others will issue policies the same day or even after you’ve left your home country. What is your premium? You can apply for most travel health policies through the company’s website or an agent’s website. Depending on the type of policy you are applying for, you may be eligible for immediate approval. You will need to make sure that you find an insurance policy that meets your needs, budget and schedule.
Choices. Can you choose your maximum coverage amount? How high is your deductible? Are you required to only go to providers inside a specific network? Are there any in-network discounts? Knowledge is key, so know your choices. Some insurance policies allow you to choose your deductible, maximum coverage amount, etc. while others don’t. Given these kinds of options, finding an insurance policy that meets your needs is made even easier.
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What is Short Term Health Insurance?
Short term health insurance is insurance that provides medical expense coverage on a temporary basis. Most short term health policies provide coverage for time periods of up to 6 or 11* months. These policies are designed to cover major medical expenses resulting from unforeseen accidents or sicknesses; however, they do not typically cover pre-existing conditions or preventative/wellness care.
*In some states the maximum coverage period available is 6 months.
Short term health insurance is ideal for:
- Individuals transitioning between jobs
- Senior adults waiting on Medicare coverage to begin
- Recent college graduates
- Young adults no longer covered under parents’ health policy
- Individuals recently arriving to the US
What to look for when purchasing short term health insurance:
Security Matters. One of the most important things to research is whether your choice of insurer is financially sound. This can be checked using any of following rating systems: Fitch Ratings, A.M. Best Company or Standard & Poor’s. When it comes to insurance, you need a company you can trust. Your security matters, and finding a financially stable insurer is key to choosing a company that can stand by you in your time of need.
Coverage. Short term health insurance is designed to protect you in case of an unexpected injury, accident or illness. If you’re treated for an injury at an Urgent Care Center instead of a hospital, are you still covered? What a potential policy excludes is just as important as considering what injuries or illnesses your policy covers.
Choices. Can you choose your maximum coverage amount? How high is your deductible? Are you required to only go to providers inside a specific network? Are there any in-network discounts? Knowledge is key, so know your choices. Some insurance policies allow you to choose your deductible, maximum coverage amount, etc. while others don’t. Given these kinds of options, finding an insurance policy that meets your needs is made even easier.
