Expatriates who are moving overseas will often opt into purchasing a local health plan from the government or a private insurer. Some countries, regardless of your own coverage, may require you to purchase the local coverage care. And it can be inadequate for your needs. Most local plans will be inexpensive and some can potentially be quite good.
If you are going abroad for a year, it is highly likely that you will be giving up your domestic health coverage, which may not cover you abroad. Thus it is important to obtain a global health policy that will cover you and your family while living and travelling abroad AND also back home.
You have the option to purchase an emergency travel medical insurance plan, which would be less expensive, but it will only cover emergencies and only while abroad – you will want to keep your domestic cover in place. Travel medical insurance plans are often best suited for short and medium term trips abroad.
A comprehensive global health insurance policy would generally be your best option. You can often choose from basic to comprehensive plans with small or large deductibles. Most plans offer you customisable options, beginning at basic hospital coverage with the option to add options as you need:
Note that when you obtain a quote, you will need to tell the insurer what the main country of residence will be – meaning where you plan to spend the majority of your time as the rates are determined by where you will be living. Most plans are able to be quoted and purchase online to facilitate the process.
At Expat Financial, we can help facilitate the process, as well as answer any questions along the way that may arise. We specialise in obtaining international health insurance, life, travel and disability insurance for individuals, as well as dependent family members while living abroad. We are a leading source of international health insurance plans with best global health insurance coverage from various insurers that offer the best international health insurance.
It has been recently reported that the Thai government is in the process of mandating mandatory medical health insurance for expatriates living in Thailand. The requirement is targeted for expatriates that are living in Thailand on a one-year non-immigrant visa, with an emphasis on those living in Thailand over the age of 60—many of whom choose to retire in Thailand for its welcoming culture and affordability.
When talking about cost-of-living overseas for expatriate employees, it is not just exchange rates of currency, cost of food or groceries, but also housing costs. According to a recent Forbes survey result, the five most expensive real estate markets are Hong Kong, Mumbai, Beijing, Shanghai, and London. In this article, we will discuss the five most costly cities for expats living abroad.
The opportunity to live a life as a global citizen is one that is appealing to many people. It involves a life of adventure and new experiences. If deciding to become a global citizen, it is important to understand what it takes to successfully take on the opportunity in which you are given and facilitate the transition period. Let’s dive into what it means to be a global citizen.
There are numerous reasons for someone to relocate to a new country and become an expatriate. It can be an inbound decision of wanting a new life of adventure or job relocation. Regardless of the reason, there is an abundant amount of benefits for making a move. The term expatriate is often misinterpreted. In this article, we will help you understand what it means to be an expatriate. We will also explore how to prepare for your new life. Here are the fundamentals of becoming an expatriate.
Before you go abroad, it is essential to learn what medical services your health insurance will cover overseas. If an emergency does happen, will your health insurance plan cover medical emergency evacuation overseas? Are you familiar with the payment method overseas in your destination country? Does your insurance cover preventive health checkups while you are working and living overseas? You don’t want to be making phone calls at the last minute to locate medical services if get hurt or sick abroad. In this article, we will discuss the importance of obtaining international health insurance, and how to use your insurance while abroad. Read more
Many people can’t resist the appeal that China has to offer – the beautiful and diverse scenery, the local culture and is one of the main economic hubs of the world. There are so many fantastic career opportunities for expatriates in China where the economy is still growing at a fantastic rate. As an expatriate, it is not easy to resist the temptation to relocate to China – whether it be Hong Kong, Shanghai, Beijing or other major cities within.
So, you’ve decided to go abroad! Now what?
You’ve decided to take the leap and perhaps teach abroad for a couple of years, or to travel for a few months, or to retire internationally… Whatever the reason is, your big decision to travel abroad needs to be accompanied by this list of 4 essential (but easy) steps to follow before going abroad to make your new journey as exciting as possible!
Paying expat employees is increasingly more common as companies expand their businesses into global markets. There is not one straightforward way to ensure you’re paying your expat employees given that laws are different in every jurisdiction. We have created a list of international payroll tips for expat employers to try and facilitate the process of global payroll.
