How to Build Your International Health Insurance Plan

Moving abroad for one year or more, you can consider yourself an expatriate, global citizen or global nomad. If you work remotely abroad, most will call you a digital nomad. What binds all these people abroad is the requirement to buy international healthcare coverage, as local plans are often not available, not sufficient and not suited for global citizens. Having comprehensive health coverage is crucial to protect yourself from unexpected medical expenses while living or working abroad. This is why you need to learn how to build your own international health insurance plan.

We have compiled a comprehensive international health insurance guide that you can download for free, but let’s walk you through the steps to create a tailored international health insurance plan that suits your unique requirements.

Here are a Few Steps to Build Your International Health Insurance Plan:

Step 1: Assess Your Global Health Needs and Expat Situation

There is always one initial step towards securing your global health insurance policy. It starts with evaluating your health needs and expat habits. Let’s think about the following questions:

Have you thought about where you plan to live abroad? Most expats need to determine the countries or regions they will spend the most time in, as coverage may vary depending on the location.
Does that country have universal healthcare?
Does the country have adequate health facilities or do you need a policy that will cover you globally?
What type of global medical coverage do you need? Check and consider whether you need coverage for inpatient and outpatient care, pregnancy and childbirth care, mental health services, medication, and any specific medical conditions or treatments.
Are you planning to start a family in the next few years? If your answer is yes, an expat couple or family should ensure that maternity coverage is included in the plan and remember that all individual policies have a 12-month waiting period if they have coverage for pregnancy at all. Group expat plans will often not have a waiting period as they are purchased by your expat employer, and the risk is shared amongst many people.
How long do you need coverage for? Just one year? If a number of years, make sure your plan renews as long as you live abroad, regardless of your health and claims.
Do you engage in high-risk activities or sports? If you participate in adventurous activities, make sure they are covered under the plan. Most expat plans have some exclusions for some hazardous sports.
What is your global health premium budget? Make sure you think about how much you can afford to spend on health insurance premiums and out-of-pocket expenses. Do you want a big deductible to save on premiums or do you want little or no coinsurance or deductibles?
Do you need international healthcare for life? That is generally a yes if you are a retired expat.
Should I get a plan that also covers me back in my country of citizenship?
Is global health insurance a requirement of my long-term residency and visa? This is a requirement for many countries, such as Thailand, Italy and Spain.
Do you need a global health plan to cover you back in your home country for up to the customary 180 days?
Do you need an international policy that includes treatment in the USA? Many Americans will want this, but not all. Adding USA health coverage will increase your premium.
Do you have any pre-existing medical ailments that will make it difficult or impossible to cover you as an individual expatriate? Note that individual plans require medical underwriting and some people simply can’t be covered because of their medical history. You need to provide honest and complete details of your previous medical history. Ensure you provide as many details as possible as insurance underwriters often assume the worst if you don’t provide full information.

Step 2: Research International Health Insurance Providers

The next step for future insured nomads is to research different international health insurance providers that offer coverage in the countries you plan to visit or reside in. Look for insurers with a strong reputation, a wide network of medical facilities and healthcare professionals, and excellent customer service. You can also read reviews and seeking recommendations from other expats can be helpful in assessing the reliability of an insurance provider.

Step 3: Obtain a Quote via an Expatriate Insurance Expert Brokerage

Yes, you can go direct to the different insurers yourself, but going through an expert to provide you unbiased, experienced and qualified information and assessing your needs costs you nothing and the premiums that you pay directly to the insurance company under this arrangement are not higher.

Another reason to quote and buy international healthcare via an independent source such as Expat Financial, which is part of TFG Global Insurance Solutions Ltd, is that they can do the following for you:

Guide the underwriting process and request discounts
You gain access to a resource that has a large block of clients with several insurers, which gives insured nomads leverage.
Expat Financial can assist you at renewal in assessing your needs which may have changed since the purchase
A brokerage can also advocate on your behalf in the event of a claims or service issue with the insurer as they will have higher level contacts and knowledge
You will be helped to buy the right coverage and at the right price

Step 4: Compare Plans and Coverage Options

OK, you have examined your needs, done some general research and you have Expat Financial involved. You will then have a list of potential insurance providers where you will compare the plans and coverage options they offer. Pay close attention to the following factors:

Coverage Area: Ensure that the insurance plan covers the countries you plan to live or travel to. Some plans may have regional restrictions, while others offer worldwide coverage, excluding or including the home country. If you include the USA for treatment, expect a higher premium. If you live near the USA, such as the Bahamas, then you might want to choose USA coverage as local facilities might not be able to treat more serious medical conditions.
Medical Coverage: Check that the plan includes comprehensive coverage for inpatient and outpatient care, emergency services, prescription drugs, specialist consultations, and mental health, if applicable.
Renewability and Portability: Expats often move from one country to the next, so please check if the plan is renewable and if it allows for seamless transitions when moving to different countries or changing residence.
Emergency Evacuation & Repatriation: If you are in a country that has undeveloped medical systems, you should get a policy that provides coverage for emergency medical evacuation to the nearest suitable medical facility and repatriation to your home country if necessary.
Maternity Coverage: If you plan to start a family, ensure that the plan covers prenatal care, childbirth, and postnatal care.
Exclusions and Limitations: Carefully read the policy’s exclusions and limitations to understand what is not covered. Some policies may exclude certain activities or sports, certain medical conditions, or waiting periods for specific treatments.
Mental Health Coverage: By some estimates, up to 26% of people suffer from a mental disorder in any given year. Mental health support is essential, so make sure the plan includes coverage for mental health services, therapy, and counselling.
Dental and Vision Coverage: Some expat plans may offer optional add-ons for vision and dental coverage. This can be great for those who require such services in the future, but many ex-pats self-insured dental and vision care.
Policy Maximum and Deductible: Review the policy’s maximum coverage limit and the deductible (the amount you must pay out of pocket before the insurance kicks in). We find that most insured nomads will choose a plan with reasonable limits and deductibles that suit their budget. The bigger the maximum, the higher the premium. Consider a higher maximum if you are in a high medical-cost country, such as the USA or in China.
Customer Service and Support: Yes, this is also important, especially when dealing with medical emergencies. Look for a global health insurance provider with a reputation for excellent customer support and a 24/7 helpline. Also note that client support and service from your expat insurance broker is also vital – you get this for free when you purchase international healthcare via our website and firm.
Make sure they have an extensive medical network: Some expat insurers will have much larger global medical networks where you can show your card and receive treatment without having to pay out of pocket unless you have a deductible. If you have to be admitted to a hospital, you will probably have to request a guarantee of payment (GOP) by contacting the insurer, which can also help make sure you are getting the right treatment in the right hospital.

Step 4: Customizing Your Global Heal Plan

Based on the above steps and your own research and needs assessment, it is then time to customize your international health insurance plan. Expat Financial finds that some insurance providers offer modular plans, allowing you to select the specific coverage options you require. Work with the insurer or an insurance agent to build a plan that aligns with your needs and budget.

It will be wise to consider the following customization options:

Expat Coverage Levels: Many global nomad insurance providers offer different coverage levels, such as basic, mid-level, and premium. Global nomads can then choose the level that best suits their requirements.
Deductibles and Co-insurance: Adjusting the deductible and copayment amount to balance your premium costs and out-of-pocket expenses is a great way to reduce your premiums.
In-Patient Only Coverage: Some ex-pats we talk to buy hospital-only coverage to save on premiums and self-insure out-patient care as it may be low cost in their expat destination.
Optional Add-ons: Depending on your needs, you may opt for additional coverage for dental, vision, wellness programs, and of course, medical evacuation.
Coverage Period: Determine the length of coverage you need, whether it’s a short-term plan for a few months or an annual policy that can be renewed. Get a plan that is renewable if you move abroad for more than a year. Note that travel medical insurance for expats just won’t cut it.
Medical Network of Healthcare Providers: Check if the insurer has a network of hospitals and healthcare professionals in your preferred locations. A strong network can make it easier to access medical services and may offer direct billing options.
Expat Support Services: Some expat insurers provide additional expat support services, such as language assistance and help with navigating foreign healthcare systems.

Step 5: Review the Policy Wording

Before finalizing your plan and paying your premium, you should carefully review the policy wording and terms. Ensure you understand the coverage, exclusions, limitations, and claim procedures. If there are any unclear points, seek clarification from the insurance provider or an insurance expert such as Expat Financial via email so you have something in writing.

Step 6: Obtain an Alternate Quote Via Expat Financial if Required

It’s essential to obtain multiple quotes from different insurance providers offering the coverage you need. Comparing quotes allows you to find the most competitive premium for the coverage you require. You can get several quotes from this website, but note that comparing plans is not easy as they all have different coverage levels and designs. Sometimes an email or call with our experts can steer you in the right direction instead and save you a lot of time and effort.

Step 7: Purchase the Insurance Health Plan

Once you’ve selected the best-suited plan for your needs and budget, it’s time to purchase the insurance. Complete the application process and make sure you provide accurate and up-to-date information.

You can get a quote online via our website, as noted on the side of this page. Choose the best policy for your needs and budget. Our most popular global health plan is the Cigna Global Health Options plan. After you get a quote online, our associates there will contact you and offer a discount & assist in answering any questions and getting the coverage in place.

Step 8: Stay Informed and Update as Needed

After purchasing your international health insurance plan, stay informed about any updates or changes to your coverage. The insurer will often send you updates and you can also join our newsletter. If your expat plans change or you relocate to a different country, inform the expat insurance provider to ensure continuous coverage.

Also, update your credit card payment with the insurance company and ensure it is in good standing, as your plan will probably cancel if you don’t pay the premium within their grace period, which is often 30 days. Also, remember to update your email with the insurance company and use their claims and service portal to submit claims and assess the medical network in your region.

Some Final Thoughts on Building a Global Medical Plan

Insurance can be confusing and mind-numbing, as building your international health insurance plan involves understanding your health needs, researching reputable insurance providers, comparing coverage options, customizing the plan to fit your requirements, and reviewing policy details.

We find that taking some extra time to assess your needs and select the right coverage can provide peace of mind and protection against unforeseen medical expenses as you embark on your expat journey. The critical thing is to remember you get what you pay for and to buy the best possible coverage for your budget and needs.

Don’t forget to download our International Health Insurance guide for free!

Yes, there is no cost to downloading our guide or getting a quote online via our website. This is the definitive global medical insurance guide for future and current insured nomads, and it should be your expat insurance manual!