Today?s growing global business has made international health insurance a necessity. When employees fly overseas on work assignments they are traveling with a good degree of risk. International travel introduces a higher degree of risk for illnesses, accidents, and injuries in a foreign land. International Insurance can protect against these risks in foreign countries.
The typical health insurance coverage generally availed by American citizens does not cover the individuals while they travel outside the US. HMO plans offer good benefits in the local area but become less beneficial and carry a lot of restrictions outside the prescribed geographical limits. PPO coverage plans place lesser restrictions but the coverage is typically limited to within the US PPO network. Medicare insurance plans for individuals above 64 years do not cover any medical expenses which are incurred outside the native land.
In the event of an overseas life threatening situation, foreign medical airlifting might cost as much as $90,000. Most international insurance plans can cover these expenses under its medical evacuation benefits. This feature of international insurance provides travelers the peace of mind and financial security that they seek.
There are two options for choosing international travel medical insurance from the wide choices of international insurance providers available in the market. Long term International Health Insurance covers the travelers worldwide and also in the home country. Short term International Medical Insurance covers outside the native land up to a period of 3 years and offers limited coverage options inside the home country for incidental trips.
While choosing an international health insurance plan, there are various factors to be considered. One of the most important considerations would be the financial strength of the company. You can rely on the rating information provided by the AM Best Company.
AM Best Company is an independent organization which focuses on the rating of various insurance companies and other insurance underwriters. The ratings can vary from A++ to D grades. A good rating given by AM Best assures that the financial strength of this company is quite good.
Larger International Health insurance companies partner with major hospital in big cities of the world and have direct billing agreements thereby reducing the inconvenience of payment procedures of the insured. The insurance company directly pays the bill to the hospital.
International health insurance industry has several players and all of them compete to offer plans that meet the needs of international travelers and overseas employees. While some companies focus exclusively on the international segments there are other companies that are beginning to look beyond the local domestic US market. Make sure you compare the various possibilities on the internet before enrolling on an health insurance for international travel plan.
The typical health insurance coverage generally availed by American citizens does not cover the individuals while they travel outside the US. HMO plans offer good benefits in the local area but become less beneficial and carry a lot of restrictions outside the prescribed geographical limits. PPO coverage plans place lesser restrictions but the coverage is typically limited to within the US PPO network. Medicare insurance plans for individuals above 64 years do not cover any medical expenses which are incurred outside the native land.
In the event of an overseas life threatening situation, foreign medical airlifting might cost as much as $90,000. Most international insurance plans can cover these expenses under its medical evacuation benefits. This feature of international insurance provides travelers the peace of mind and financial security that they seek.
There are two options for choosing international travel medical insurance from the wide choices of international insurance providers available in the market. Long term International Health Insurance covers the travelers worldwide and also in the home country. Short term International Medical Insurance covers outside the native land up to a period of 3 years and offers limited coverage options inside the home country for incidental trips.
While choosing an international health insurance plan, there are various factors to be considered. One of the most important considerations would be the financial strength of the company. You can rely on the rating information provided by the AM Best Company.
AM Best Company is an independent organization which focuses on the rating of various insurance companies and other insurance underwriters. The ratings can vary from A++ to D grades. A good rating given by AM Best assures that the financial strength of this company is quite good.
Larger International Health insurance companies partner with major hospital in big cities of the world and have direct billing agreements thereby reducing the inconvenience of payment procedures of the insured. The insurance company directly pays the bill to the hospital.
International health insurance industry has several players and all of them compete to offer plans that meet the needs of international travelers and overseas employees. While some companies focus exclusively on the international segments there are other companies that are beginning to look beyond the local domestic US market. Make sure you compare the various possibilities on the internet before enrolling on an health insurance for international travel plan.
About the Author:
Ray Sondeo often writes about health and travel insurance.
No comments:
Post a Comment