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International Health
Insurance
When taking up residence in another country, a
critical piece of your financial peace of mind is international
health insurance coverage. Some expatriates can qualify for a local
government health plan. However, in smaller and less-stable nations,
government plan coverage is minimal. As well, the government plan is
not portable; that is, when you leave the country, your coverage
doesn't go with you.
Many companies offer international health insurance coverage for
expatriates. The more basic international health insurance plans
cover in-patient hospital stays, including physician fees, surgeons,
anesthesiologists, and even some prescription medication.
The more comprehensive international health insurance plans can
resemble domestic health plans. Consultations, outpatient visits,
therapists, and emergency dentistry are included. Often, specialists
such as radiologists, pathologists, and oncologists are covered, as
well as ambulance transportation charges.
There are even more extensive coverage options for international
health insurance. While the premiums are higher, so are the covered
benefits. These benefits can include childbirth, chiropractors,
organ transplants, rehabilitation, and psychiatry. As well,
diagnostic services such as x-rays, magnetic resonance imaging
scans, and other lab work can be included.
Many international health plans include emergency travel medical
coverage and evacuation coverage in the basic level. For an
additional fee, most international health plans can add
transportation to a top-notch medical facility anywhere in the
world, and then a discounted fare to return to your home country
after you've recovered from illness.
Not everyone can be covered by an international health plan. If your
occupation is classified as dangerous or hazardous, some companies
won't cover you, while others will cover you at a very high premium.
Pre-existing conditions aren't usually covered either, whether the
condition was known or not. However, some companies might cover a
pre-existing condition for an additional premium. Many international
health plans won't cover pregnancy and childbirth, while others will
cover it for an added premium. Some international health plans will
require a waiting period for up to 12 months before covering
pregnancy and childbirth, while other plans will only cover
maternity-related costs if the pregnancy occurred after the policy
comes into effect.
Comprehensive international health insurance plans usually cost
about twice of what a basic plan would cost. You can choose to have
the full 100% of your expenses covered. To save money on premiums,
you can opt to have the international health insurance plan cover up
to 80% of the expenses while you cover the rest. You can also save
money on the premium by paying a deductible. International health
insurance plan premiums can vary depending on age. On some plans,
even gender can affect premiums.
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