Recent Non-Renewal Notices are a Cautionary Tale for Expats
We have been receiving calls from clients worldwide whose global health insurance plans are not being renewed or are being told that COVID-19 related claims will not be covered or their insurance providers are getting out of the market. This is a big concern for people already living abroad. When searching for a global health plan, expats need to make sure that they purchase coverage from a capable global health provider with a large medical network around the world that can handle complex claims via their medical network. Here’s what you need to know about expat health plans during the pandemic.
Avoid Expat Health Plans That Require Medical Underiting to Renew
A Canadian expat provider offers a plan that requires clients re-apply each year medically – this is a big deal because what if you become ill or develop a pre-existing condition after securing coverage. The plans offered are inexpensive and can be OK for some expats. But let’s say you develop skin cancer after being a global healthcare client – you want to make sure you have a plan that will renew as long as you are living abroad without the requirement that your renewal is subject to medical underwriting. This is why our firm offers renewable plans each year without medical questions and even some that are renewable for life as long as you are an expatriate.
What if Your Plan Doesn’t Cover COVID-19?
If the international health plan you have now doesn’t cover COVID-19 or related pandemics, you can check with your existing provider to see if they have provided an exception. If you are concerned about catching COVID-19 and incurring some significant medical expenses, and you should, then you can contact our firm to discuss some of the plans we offer. Note that you should be careful switching from one plan to another, especially if your current plan is covering any pre-existing conditions as new plans have medical underwriting.
What Can Clients Do if They Receive a Cancellation Notice?
Don’t despair if you receive a cancellation notice because your provider is going out of business, getting out of the market, or a notice of coverage exclusion for COVID-19. Yes, it is a huge concern, but there are options available and we are more than happy to help. We work with a large number of international healthcare providers who can cover most expats in many countries. However, note that any new plan that you move to will require medical underwriting. It comes in the form of medical questions when you apply online or offline. There is no guarantee that the new insurer will cover you. Hence, it would help if you were very careful switching from one plan or insurer to another. We can provide some advice and support and the rates are the same regardless of our involvement.
What Can Expat Health Plans Cover COVID-19?
We have been selling many expat health plans during this pandemic. Ensure you are not purchasing when you’re sick. Here are just two of the best plans that treat COVID-19 like any other illness:
Allianz Global – The Allianz Global plan that we offer to expatriates living overseas and is administered from Ireland. This plan has excellent coverage, service and global claims capabilities. It also has no COVID-19 exclusion as long as you don’t have it at the time of application. You can view the plan details and even get a quote online.
Cigna Global Health Options – We highly recommend this plan for expatriates – it offers excellent coverage, support, service and is renewable for life as long as you are going to remain outside your country of residence for at least 6 months or more. It doesn’t have a COVID-19 exclusion as long as you are not infected when you apply.
Further Conclusions on Expat Health Plans
Both plans can be quoted and even purchase online with a credit card. Final coverage and rates are subject to the insurer’s medical underwriting approval. So you may be covered, declined, or they may issue an exclusion on the pre-existing condition. You may also receive a premium loading based on your medical history.
Furthermore, you can pay monthly or annually and there are numerous deductible and coverage options to choose from. You can also contact us to discuss your current requirements and coverage. We can make a recommendation for one of the above policies or another provider we work with. The bottom line is to be careful about which plan you choose. Do not buy the cheapest expat healthcare you can find. It is definitely a case of- you get what you pay for.