Medical insurance is very important for students living away from home, especially international students. The reason being your medical emergencies, which would be taken care of by your medical insurance. Therefore, you must consider the subject of international student?s insurance before leaving your country for academic purpose.
The insurance company would not pay your bills right away. You will be required to pay a certain amount of money towards your medical bill in order to be eligible for claiming cover from the medical insurance for international students company against the rest of the bill. This sum of money, which you are required to pay, is known as deductible.
Once the deductible is met, the insurance company pays a percentage of the expenses, this is called Coinsurance. Typically comprehensive international insurance plans cover 80% of the first $5000 of the expenses, and 100% thereafter.
The range of deductibles start from $0 and goes up to $250.Usually, the lower the premium the higher is the deductible, and vice-versa. Insurance companies evade claims relatively trivial in nature with the help of deductibles. Inclusion of deductibles also encourages people not to frivolously engage in medical treatment.
Consider a situation where you have purchased insurance for international students with a deductible worth $100. So, if you meet with a medical emergency then you will first have to pay $100 towards your medical bill. Only after doing so will you be eligible to claim payment of the rest of the bill from the insurance company.
Usually, student?s insurance companies waive deductible if the policyholder seeks the initial treatment from the Student?s Health Centre of his/her academic institution. However, some international student insurance doesn?t waive the deductible but reduces the deductible to as much as half the amount of deductible if treatment is received from the Student?s Health Centre.
Typically, deductibles are of two kinds. One is applied based on per sickness or per injury, while the other is applied on a yearly basis. In case of the first type, every time the insurance holder encounters a new kind of injury or sickness, he/she will have to pay the amount of deductible. For the other type, the policyholder will be required to pay his medical bills as long as the insurance holder does not pay the full amount of deductible.
Very low or even zero deductibles is also offered by some international student?s insurance, but at higher costs. Read all the policy details carefully before deciding the international student insurance deductible.
The insurance company would not pay your bills right away. You will be required to pay a certain amount of money towards your medical bill in order to be eligible for claiming cover from the medical insurance for international students company against the rest of the bill. This sum of money, which you are required to pay, is known as deductible.
Once the deductible is met, the insurance company pays a percentage of the expenses, this is called Coinsurance. Typically comprehensive international insurance plans cover 80% of the first $5000 of the expenses, and 100% thereafter.
The range of deductibles start from $0 and goes up to $250.Usually, the lower the premium the higher is the deductible, and vice-versa. Insurance companies evade claims relatively trivial in nature with the help of deductibles. Inclusion of deductibles also encourages people not to frivolously engage in medical treatment.
Consider a situation where you have purchased insurance for international students with a deductible worth $100. So, if you meet with a medical emergency then you will first have to pay $100 towards your medical bill. Only after doing so will you be eligible to claim payment of the rest of the bill from the insurance company.
Usually, student?s insurance companies waive deductible if the policyholder seeks the initial treatment from the Student?s Health Centre of his/her academic institution. However, some international student insurance doesn?t waive the deductible but reduces the deductible to as much as half the amount of deductible if treatment is received from the Student?s Health Centre.
Typically, deductibles are of two kinds. One is applied based on per sickness or per injury, while the other is applied on a yearly basis. In case of the first type, every time the insurance holder encounters a new kind of injury or sickness, he/she will have to pay the amount of deductible. For the other type, the policyholder will be required to pay his medical bills as long as the insurance holder does not pay the full amount of deductible.
Very low or even zero deductibles is also offered by some international student?s insurance, but at higher costs. Read all the policy details carefully before deciding the international student insurance deductible.
No comments:
Post a Comment