Overseas Health Insurance: Choosing the Right Plan

Have you made the decision to retire, work or move to another country? Expats tell us that moving abroad is an exciting journey, whether it’s for work, retirement, or a lifestyle change. But while you’re packing bags and finalising documents, there’s one essential piece many overlook: overseas health insurance.

As you know, healthcare systems vary from country to country. What works at home may not apply overseas. That’s why investing in the right overseas health insurance isn’t just a good idea, it’s crucial to you and your family’s success as a global citizen abroad.

At Expat Financial, a division of TFG Global Insurance Solutions, we specialize in helping global citizens find tailored, reliable international medical coverage. There is no perfect coverage or premiums, but we can help you secure global healthcare that can help cover emergency and non-emergency medical needs abroad. As we are often asked about choosing the proper overseas healthcare, let’s guide you through everything you need to know to make an informed decision.

What Is Overseas Health Insurance?

Overseas health insurance is a type of international medical policy that covers your healthcare needs while living, working, or travelling abroad for extended periods. These global medical plans are not suitable for those taking a short trip abroad for a few weeks, months, or less than a year, as most people will purchase travel medical insurance.

Unlike travel insurance, which focuses on short-term trips and emergencies, overseas health coverage is designed for:

Expats relocating for work
People retiring abroad for a year or more
International students
Global nomads
Embassy workers
Global Citizens
Digital nomads and remote workers
Long-term travellers and global professionals

Global plans generally offer more extensive and long-term protection than most basic travel emergency policies. While buying a travel insurance plan for expat life abroad may seem like the right decision, it has too many shortfalls for most people we work with.

Why Do You Need Overseas Healthcare?

This is not as easy an answer as it may seem. Many expats assume their local or employer coverage will suffice overseas, but that’s often not the case. For example, your Medicare back in the USA won’t cover expenses abroad. Here’s why overseas health insurance is essential:

Your home-country insurance likely won’t cover international medical costs.
Some countries require proof of private insurance for visa approval.
Access to private hospitals with English-speaking staff is smoother when the right policy is in place.
It can provide financial protection against expensive treatments or emergency evacuation, depending on your coverage level.
Healthcare in your destination country may be of substandard quality.
You want to be able to get treatment and see your MD back in your home country.
If you can get on a local plan abroad, it probably won’t cover you outside the country and especially if you move to another country.
Greater peace of mind during health crises—by reducing the risk of unexpected medical expenses.

If you are fortunate enough to have a global benefits plan that covers you abroad, you will likely not need an individual expat health plan. Group expat plans will often fully cover pre-existing conditions. In contrast, a plan you buy on your own will have medical underwriting or it has no underwriting at sign-up, so it doesn’t cover pre-existing conditions at all.

What Does It Typically Cover?

No plan will cover everything and they all have fine print and exclusions, such as cosmetic or experimental care. A higher quality overseas health insurance plan from a trusted provider like Expat Financial often includes:

Doctor visits (inpatient and outpatient)
Emergency care and hospital stays
Preventive checkups and screenings
Maternity and newborn care (advanced plans)
Mental health support and therapy
Medical evacuation and repatriation
Optional add-ons include dental, vision, and wellness coverage.
Some plans also include highly popular virtual healthcare, otherwise known as telehealth.

Coverage varies, so it’s essential to compare plans carefully. We find that most expats want to secure coverage with one of our premier global insurance companies, such as the Cigna plan we offer online.

What Should You Look for in a Plan?

Well, you have taken the first and best step by visiting our website, but before you choose a plan, here are key factors to consider:

Geographic coverage: Do you need global or region-specific protection?
Cover the USA or not: If you are living in the USA, you will need the USA covered. Some American expats will want a plan that will cover them back in the USA for treatment, but also citizens living near the USA who may need to travel there for medical care.
Network access: Can you visit any doctor, or do you need referrals? Some expat providers have extensive healthcare networks. If you need urgent medical care, you can often request a guarantee of payment (GOP) from the insurer.
Claim process: Is it digital, quick, and multilingual?
Deductibles and co-pays: What’s your share of the cost?
Coverage for pre-existing conditions: Not all plans include this.
Direct billing: Can hospitals bill the insurer directly?

Different Types of Plans Available

Every expat’s lifestyle is different, so the insurance should be too. Common types include:

Individual plans – ideal for solo professionals or students.
Family plans include spouse and children.
Short-term vs. long-term plans based on how long you’ll be abroad.
Group coverage – Offered by employers or international organizations.
Specialized plans for retirees, students, and digital nomads. If you are planning to retire abroad, make sure you get a plan that can cover you for life.

How Much Does It Cost?

The cost may vary depending on:

Your age and medical history
Country of residence
Coverage level and extras
Length of coverage

Whether it’s individual or family coverage, your premium will vary as there are just too many options available, especially if you have a deductible. Note that global healthcare premiums go up with age, as the older you are, the more likely you are to claim. Another consideration is that healthcare inflation is very high, so you must factor in nearly 10% or more in health cost inflation per year.

Some Expat Money-Saving Tips:

Opt for higher deductibles to lower your premium
Pay annually for a 10% premium savings
Contact us for the best deals and tips

Check out our article for more details on how to save money on expat healthcare.

Common Mistakes to Avoid

Buying any type of healthcare or insurance can be challenging, so it’s best to take your time and make an informed decision. This is especially true if you buy cheap expat healthcare and develop a medical condition, as it will be difficult or impossible to get that condition covered by a new insurance provider. Here are some more costly missteps:

Relying solely on basic travel insurance instead of comprehensive overseas health insurance.
Not declaring pre-existing conditions
Buying based solely on price
Ignoring the claims and support system
Skipping the fine print

How to Buy the Right Plan?

A reliable way to secure overseas health insurance that suits your needs:

Consult with an expert broker like Expat Financial
Assess your needs and destination
Compare multiple plans
Customize coverage
Apply and ensure your coverage is in place before departure.
Download the Expat Financial Global Healthcare Guide!

Some Final Thoughts for Overseas Citizens

Your health, whether at home or abroad, should never be an afterthought. Living in a different country can come with numerous healthcare and medical challenges. For example, you might live in a developing country with limited access to medical care or face complex diseases and viruses, such as malaria. With the right overseas health insurance, you can live abroad confidently, knowing you’re protected for a wide range of medical situations, based on the plan you choose.

At Expat Financial, we help expats and international citizens worldwide find tailored insurance solutions that match their lifestyle and budget. Reach out to us at 1-604-628-0426 for a free consultation or quote, and let us help make your international move a secure and healthy one.