International Health Insurance

Global citizens are usually financially independent but often have little time to review their insurance statuses. Tax planning, citizenship and residence planning, real estate, investment counseling and the like all sound much more  interesting and important than health insurance, which is frequently forgotten about, until one falls ill or is involved in an accident.

A low cover health insurance plan often has a similar marketing premium to a high coverage plan; however, the two options offer vastly different protection. Furthermore, differences will also be noted with respect to service experience when making a claim, and the responsiveness to client queries. In fact, in the long run, a low coverage plan tends to be more expensive, as there will be a notable gap between the cover offered and the service a client receives from the insurance provider. That is why it is important to remember that there is much more to consider than premium costs when evaluating health insurance coverage. Indeed, the cost of premiums is only the tip of the iceberg.

Reputable international health insurance coverage may even be the difference between life and death, especially in an emergency that requires rapid intervention and an experienced team. Even more so when you are abroad, and you do not know where to go and where to find a doctor of trust. Having this protection allows you also to seek medical counsel from the best specialists and hospitals, no matter where you are in the world.

Additionally, certain treatments are only possible in particular countries and sometimes only via the arrangement of a specialized insurer. International health insurance offers global solutions. In this regard, it is important to understand your coverage rights and being advised by an independent broker/specialist, especially when it comes to worldwide treatments and free choice of doctor and hospital. This is even more relevant as the rise of medical tourism is giving fuel to the trend of clients selecting cheaper country/clinic options that respectively do not have state of the art equipment, education and treatment. Whoever has experienced illness knows very well that it is of uttermost importance to be advised and diagnosed by a specialist in the field of that particular illness, and not by a generalist. Getting the wrong diagnosis or treatment can cost you a lot of money, time, effort and might even worsen one’s health situation. There are other variables to consider when selecting an international health plan, including online claims experience, coverage exclusions and limits, and risk factors for younger or older people. For younger clients, it is advisable to confirm a comprehensive policy as soon as possible, as the later you join the more likely an insurer will refuse coverage or include restrictive exclusions within the plan. Younger clients should also note that while heart disease and cancer diagnosis are more common for senior citizens, young clients are more likely to be afflicted with respiratory issues, digestive disorders, back and muscle pains, and mental disorders, and should ensure sufficient coverage for these.

Often clients prefer to select a less expensive international health insurance option because they may have another health insurance plan in their home country. However, as a global citizen, opting for a low international premium, and thus low coverage, is not advisable. Two low-cover health insurance plans cannot replace one good plan: it is best to opt for a reputable international cover instead of relying on a local plan. When in doubt, it is worthwhile to seek further opinions and advice so that you obtain the best solution for your needs. In such instances, an experienced international health insurance broker such as Swiss Insurance Partners can play an important, even lifesaving role.