Expatriate Health Insurance

Basic Facts on Expatriate Health Insurance

If you are going to be traveling or living outside of the U.S. for an extended period of time, then it's critical to be prepared for whatever health emergencies or needs might arise. Corporations with overseas workers know that workers must receive good care and coverage under expatriate health insurance plans or employees will simply refuse these assignments. Since international expansion is key to the success of many companies, corporations are paying $6,000 to $7,000 in benefits per employee. Thus, individuals can ensure their own health care coverage under expatriate health insurance plans.

Types of Expatriate Health Insurance Plans

It boils down to three options for expatriate health insurance:

1.Sign up with the host country

2.Sign up with the home country

3.Sign up for a specialized plan.

A quick snapshot on those three options: Signing up for host country coverage might seem logical but it is often impractical. Many countries have national health plans and since some U.S. citizens are not paying into taxes then they do not have access to full services while abroad. If you sign up for a home plan and it's an HMO, then where do you go when your break a leg in Spain? The system of reimbursement and fees can be so complicated that it would be next to impossible to file the health insurance claim. For these reasons, employers or corporations use options such as directly reimbursing employees for expenses or enlisting the use of international medical care services.

What Are Risks for Individuals in Expatriate Health Insurance

First, know your level of risk and consider how long you will be living or working abroad. You may be able to obtain a low cost premium expatriate health insurance plan with some bargaining or good internet research. Just be sure you don't trade low rates for poor coverage. And be sure to factor in the possible need for evacuation if your host country does not have adquate care facilities. Living the expatriate life can be exciting but don't let lack of adequate care and coverage make it expensive.

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