Is expat health insurance worth it?
A lot of people moving abroad often ask if global healthcare is worth getting. There are a lot of people who are deciding to become expats and global nomads by moving to different countries for work, retirement and extended travel abroad. There are lots of different reasons why people decide to move abroad and become an expat.
Many young people choose the inspiration of other cultures to spur on their experiences after they finish their studies and before they start in the workplace. Some might decide to do it in retirement to and move to a different country. Some people might be working in a field which requires them to spend time living abroad for certain periods of time.
When you are moving abroad, there will be a lot of things you’ll need to prepare for. There’s a bit more to do than just packing your bags and getting on a plane.
One question that often will arise for expats is health insurance and deciding whether or not getting expat health insurance is worth it. International health insurance is meant for people who are living and/or working abroad for a prolonged period of time – usually a year or more.
Most expats will want to get some form of health insurance and it is very much recommended to do so.
5 reasons why you need expat health insurance
In this article, we’ll share five reasons why expat health insurance is worth it.
1- You get access to great facilities
One of the best benefits that comes with buying expat health insurance is that you’ll then be able to get access to medical facilities and doctors as a private patient. Your health insurer will allow you access to facilities through their medical network, but most plans will also allow free choice of hospital care. If the medical facility is outside the expat insurer provider’s network, you can often request a guarantee of payment via their 24/7 emergency line or pay the bill and get reimbursed for an eligible expense.
This can often mean that you will receive access to world-class treatment options. You don’t want to become sick in a foreign country and not have any insurance to deal with it.
2- It provides coverage for paying out-of-pocket payments
Another benefit that comes with having an international health insurance plan is that you won’t be left with any unexpected bills for medical costs, which in many countries can be quite substantial. As I’m sure you probably already know, the cost of receiving medical treatment can be really expensive for expats, who will often not be eligible in their destination country and their medical coverage back home may end when they move abroad.
The good news is that your health insurer will step in here to help. They will cover the costs as part of your plan. This can be really helpful as you won’t be left spending a large amount of money on any bills.
You might even end up getting to select a doctor or hospital that best suits your needs. In some places, you might also be given the option to select treatment by a doctor that speaks the same language as you do and this can be a big help.
3- Cover in case of a medical emergency
When you decide to move abroad and become an expat, you will most certainly want to be protected in case of any medical emergencies. You don’t want to be left without any health insurance cover. Most medical emergencies will involve admission or treatment at a hospital.
By having expat health insurance, your policy should provide coverage should a medical emergency happen, and your health insurer can help you to receive the treatment you need.
4- Cover for visa requirements
Since the covid pandemic, a lot more countries are enforcing very strict rules for who can enter the country and some of the rules make it mandatory you will need to have ex-pat health insurance. This means that you will have to have health insurance if you want to move to a country. Many nations do this because they do not want foreign nationals to be a burden on the local health system so they will ask you to get a global health plan or sign up for a local medical policy.
It is now mandatory to have expat health insurance in countries such as Qatar, France, Spain and the UAE. It is best to check in advance what the rules are in the country you are planning to move to.
5- Peace of mind for your retirement & work life abroad
Another good thing about it is that having expat health insurance can give you peace of mind.
You won’t want to have any additional worries when you start your new life abroad as an expat. So having health insurance will be really helpful.
Think about it, you’ll have a long list of things to do before you move. You’ll have to arrange your expat via, accommodation and many other things. So by having an expat health insurance plan in place, you’ll be covered. Think about it like this, it’ll give you one less thing to worry about.
To help you make your decision on which health insurance company to go with, we’ve got these offers for expats:
Cigna is a leader in the market at providing health insurance for expats. They have a vast medical network of over 1.65 million hospital and healthcare providers. Cigna plans offer you the option of selecting an area of cover for your expat health insurance plan which is either including or excluding the USA. Learn more here.
Allianz can provide health insurance plans for expats. The plans they offer are flexible and you can purchase them living in Europe, Africa or Asia. Allianz also offers the Allianz MyCare app that allows you to access your policy documents easily and on the go.
If you are an American citizen and you are considering moving abroad, GeoBlue is an American provider of international health insurance if you are living abroad.
Bottom Line – YES – Expat Health Insurance is Worth It! Especiall via Expat Financial:
At Expat Financial, we offer international health insurance plans that include both inpatient and outpatient health coverage. You can also buy dental and medical evacuation options. We can provide plans for individual expats as well as those who would like cover for their entire family.
Expat Financial offers health plans from a number of leading expat health insurance providers and a representative from the parnet company can assist you in your decision at no cost – the price of the coverage is not impacted by our involvement.
Please get in touch to discuss your global health insurance needs or obtain a quote online.