Becoming a digital nomad

10 reasons global nomads don’t buy international health insurance

Health insurance is very important for global nomads. However, it can be common that expats will only realize just how important it is when it becomes too late. Expat health insurance is meant for people who are living and/or working abroad for a prolonged period of time.

As a global nomad living abroad, you should be prepared for emergency medical situations and you should also ensure that you have access to good quality healthcare. What if you have a medical emergency abroad and you don’t have insurance? What will you do then? In this article, we will describe why some global nomads don’t become insured nomads.

Ten reasons why global nomads don’t buy health insurance

In this article, we provide a list of 10 reasons why global nomads don’t buy health insurance.

1- Costs involved

A big reason why global nomads decide not to buy health insurance abroad is that they do not understand the costs that are involved in buying it. A lot of people will unknowingly think that is too expensive to purchase health insurance.

However, the potential cost you could incur if you don’t have insurance and something goes wrong could be a whole lot of money that you might not have available to you. In reality, buying health insurance is usually not as expensive as you would think. Most global nomad plans will offer at least three levels of coverage – such as silver, gold and platinum. One provider we work with has a very basic plan that will just cover you in your expat destination and back home – which allows them the reduce the costs substantially.

Nowadays, most major global health companies will offer some form of basic coverage plan to help expats to save money. If you’d like to find out more information, please read our previous article on saving money on your international health insurance. This includes increasing your deductible and taking a lower level of coverage.

2- Misconception that health insurance isn’t needed

There is a common misconception that health insurance just isn’t necessary for global nomads living abroad. Young people might just think they are young and fit enough and might not consider a health insurance plan to be needed. But we have seen a lot of people who were healthy who didn’t buy global medical care experience an accident or chronic condition and the resulting financial ruin that follows. You are only as healthy as you are now and until you are not.

However, by having a health insurance plan, you should then have a plan that will cover you if a medical emergency occur, but also a chronic condition that can impact your health. If you are planning to have children abroad, make sure you get a policy that covers maternity after the traditional 12 month waiting period. We often get calls from global nomads who didn’t health coverage and are now pregnant.

There are also many benefits of having a plan. To find out more, please read this article to find out why is expat health insurance worth it.

3- Not understanding the benefits

Another reason why expats might not want to do it is because they don’t understand the benefits that come with having health insurance. You will be provided with a breakdown of what is included in your health insurance plan by your provider.

Usually, your plan will include:

• The ability to choose which hospital or medical facility you visit

• Access to 24-hour emergency support

• Emergency evacuation support

• Prescription benefits

Increase in Expat Insurance Premiums

4- Relying on employee cover

Sometimes people will use the excuse that because there isn’t an immediate gain, there’s no point in getting health insurance. Some people will also think the level of cover provided by their employer will be enough.

But for most expats, an employee benefits package won’t be sufficient enough cover for your healthcare. For example, if you decide to change job, you may be left without insurance.

5- Thinking you won’t be covered because of a pre-exiting condition

Even if the insurance provider excludes a pre-existing condition, that doesn’t mean you shouldn’t proceed with buying it. Many global health insurance plans can offer cover for some pre-existing medical conditions or they will provide a premium loading or exclusion They will usually let you know in advice what is covered. You can also ask your MD to provide additional information that may allow the underwriters to cover the condition. There is no harm in applying and seeing what they come back with.

So it is always best to check in advance what can be covered before you make a decision on whether or not to buy international health insurance.

6- Put off by the paperwork involved

There’s no denying that buying health insurance can be a complex process and the level of coverage you need will depend on your circumstances. Some people might be put off by the idea of the paperwork involved. But in reality, most of it is done online these days. You get a  quote online via our webpage from one of the reputable insurers we work with at no extra cost or complete the quote questionnaire. You can even call us to discuss your requirements.

So you won’t be stuck filling in endless amounts of forms as the online process can be quick and easy.

Benin Expat Insurance

7- Thinking travel insurance is enough

People may also mistakenly think that travel insurance is more than enough when moving abroad.. This can be a common misconception from expats who may just want to use travel insurance instead of paying for health insurance.

Sure if you are just going abroad for a short time period, say a few months, and keeping your health plan in place back home, travel medical insurance is often recommended. It is inexpensive for a reason and only mean to cover you abroad for emergencies only, which is definitely not ideal for global nomads.

Remember that travel insurance plans are only for a set period of time, and this is normally for 12 months or less. You can find out more about the differences between travel insurance and health insurance by reading this helpful article.

8- Relying only on local insurance

Some people might also think that because they have local insurance, they won’t need to get insurance specifically for expats. But it is worth it and it is also good to remember that there are many countries in the world that to not provide health coverage to expatriates.

Another thing to remember is that you might not be able to get medical treatment in your home country by just using a local insurance plan.

International Medical Insurance

9- Not wanting to prepare for emergencies

Another reason why people might not want to do it is because they think an emergency won’t happen to them. But medical emergencies aren’t something that can be planned in advance, emergencies are something that can happen at anytime in your life.

That’s why it is vital to be prepared for anything, even the worst medical emergency.

10- Believing you are healthy and won’t need it

This is one of the most common reasons why not. Some people, often young people, will mistakingly think they are fit and unhealthy and therefore it is an unnecessary expense.

The best thing to do is buy global health coverage before you become unhealthy. We’d strongly recommend doing it that way so you should get global health insurance from Expat Financial.

Expat Financial – An Expat Health Insurance Resource for Global Citizens

Expat Financial offers international health insurance plans for individual expats as well as those who would like cover for their entire family. Expat Financial offers health plans from leading expat health insurance providers, such as Allianz and Cigna.

Please get in touch to discuss your global health insurance needs or get a quote online.