If you are considering purchasing an International Health Insurance, it probably means that you need it. The list of things to do before moving to another country is long. However, health insurance is a crucial item on the list. There are so many things to consider when shopping for the most suitable International Health Insurance. I have listed a few below that might be helpful:
Knowing the needs of yourself and your family
Does your company provide an International Health Insurance plan? Some companies do provide it as part of their employee benefits. Even it’s provided by your company, it’s always beneficial to look into having add-ons. For eg. a more comprehensive hospitalisation and surgery coverage.
Besides a plan for yourself, these are some considerations for your family:
- Does or would your wife need maternal health care?
- Does she need to add on for women’s health coverage?
- Do your kids require insurance coverage for younger children? Some coverages might include routine health check-ups and vaccinations for example. And these may be useful to have in some countries
- Do your teens require add-ons as they’re getting older, esp for girls?
- If you have older children, do they need a different health insurance at the university/college?
- If you have parents or parents in law moving with you, you will need to look into purchasing them
- International health insurance benefits for the elderly
Some elderlies might require alternative medical treatment such as Traditional Chinese Medicine, soa coverage that includes such would be very helpful
- It is pertinent to know the medical and insurance laws of the country. This would certainly affect your decision in purchasing the types of insurance. For example, in New Zealand, if you have a certain work visa, your children under the age of 14, can receive free medical treatment at most clinics.
Knowing the health care laws in the country
Understand the reimbursement policies. Due to the fact that it’s an International Health Insurance, reimbursement policies and time frame for reimbursement will most likely differ from those of local insurance that you are familiar with.
Do a comparison between international and local health insurance. A few things that stand out are:
- Language difference or barrier dealing with local insurance agents/brokers
- Comprehending reimbursement policies for local insurances
- Building up a new relationship with your local insurance broker such as Insurance Market in Singapore. A broker can become very important in our lives and the relationship is built over time. It could be much more convenient to handle any reimbursement matters for example, through a familiar and professional and trusted broker.
For frequent travellers, a more comprehensive coverage is certainly wiser. Health insurance benefits from employers are usually rather basic. If we need serious medical care while overseas, like surgery, costs would certainly be high
For International students, health insurance is usually covered as part of the school fees or as a foreign student package. Again, coverage is most likely basic. Hospitalisation and surgeries can be very costly especially if you’re a foreigner. Having a more comprehensive coverage would be a piece of mind for parents as well. It is hard enough having a child living in another country.
For me personally, another crucial coverage to have for International Health Insurance is repatriation. If you or a family member, ever need to return to your home country for medical treatment, this coverage would be Godsend.
There are a lot more benefits to research on. With the assistance of the Insurance Market platform, I’m sure that you will be able to find a plan that will suit you and your family most. Having a health insurance all sorted out before you move, will be one less stress to deal with. Compare different International Health Insurance plans instantly.
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