Comprehensive Health Insurance Guide for Foreign Residents
As an expat working in a foreign country, comprehensive health insurance is crucial for various reasons, the most significant one is to have access to the healthcare services and benefits that may be provided to citizens for free or at a low cost.
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Are you wondering why you need health insurance? Or are you looking to learn more about securing health insurance? In this health insurance guide for foreign residents, we will go through everything you need to know about the importance of health insurance and how to choose the best plan for your needs.
Importance of Health Insurance When Living Abroad
As a foreign resident there may be a number of healthcare services that are provided to citizens at low cost or completely free of charge that you will not have access to. As such, it is important to secure a health insurance plan that covers your medical needs and requirements during your stay.
Another reason health insurance is important is because more and more countries now have mandatory health insurances. Expats who want to apply for a visa for countries like the UAE, are required to be covered by a health insurance plan.
International Health Insurance vs Travel Insurance
Whilst an international health insurance and a travel insurance will both cover you in a foreign country, for expats and frequent fliers, an international health insurance, though more expensive, is recommended over a travel insurance as they provide you with better medical coverage during your stay.
International health insurance generally covers you for a year or longer before they expire. For expats this is much more preferable than a travel insurance which is designed for short leisure trips abroad. Travel insurance typically covers you for up to 90 days.
The medical coverage in an international health insurance plan is more comprehensive than that of a travel insurance. On the other hand, travel insurance, in addition to basic medical coverage, will also cover things that may occur during your travel such as trip delay/cancellation coverage.
For expats, it is recommended to secure an international health insurance policy over a travel insurance policy as international health insurance provides better protection for expats working in a foreign country.
How to Choose the Health Insurance for You
When choosing a health insurance plan, the first thing you need to do is evaluate your own medical needs and requirements. By determining the treatments you want or need, you will be able to filter out plans that don’t suit your needs.
There are other factors you should consider outside of the plan’s benefits when choosing a health insurance plan. It is important to look for a reputable insurer and check the list of network health services, especially if you have a preferred hospital or doctor!
Cost and Budgeting
A factor that you don’t want to overlook is the cost and your budget. An expensive health insurance plan may cover everything you need and more but if you can’t afford to stay insured, you are opening yourself to unnecessary risks.
Be sure to check for any deductible or copayment options when selecting a plan to effectively manage your premium costs.
Exclusions
Health insurance plans often come with a list of exclusions, these are things that your insurer won’t cover. Pre-existing chronic conditions are common exclusions in health insurance plans.
Other common exclusions include:
- Conditions developed due to misuse of drugs or alcohol
- Experimental or unproven Care
- Fertility treatment or testing
- Plastic and cosmetic surgery
- Treatment of psychological conditions
- Termination of pregnancy unless medically prescribed
- AIDS or HIV related diseases.
- Contraception, including sterilization
- Epidemics that are under the direction of the authorities
- Obesity treatments
- Sexual dysfunction
- Injuries inflicted whilst committing a terrorist act
Finding the right insurance plan can be a daunting task, that is why there are insurance brokers like Pacific Prime, who can help do the research for you and present you with filtered plan options based on your criterias.
Insurance Brokers vs Agents
When securing a health insurance plan, you have two options, buying from an insurance broker or from an insurance agent. Both options ultimately lead to you securing an insurance plan but working with a broker like Pacific Prime can seriously cut down on the time and effort it takes to find the right plan for you.
When working with a broker, you can rely on the expertise of their insurance experts to help you find a plan, from the multiple insurers that they work with, to satisfy your medical needs and requirements.
On the other hand, working with an agent isn’t necessarily bad but the plans you are presented with will be from the one insurer that they are working for, limiting your options.
Frequently Asked Questions
How do I find in-network doctors and healthcare facilities?
You will be able to find doctors, clinics, hospitals, and other in-network healthcare facilities on your insurer’s website and on your insurer’s mobile apps if available. You can also call your insurer’s customer service number to ask a representative.
What is considered a pre-existing medical condition?
A pre-existing condition is an illness, injury, or other medical problems that you have developed before your health insurance coverage is in effect. You are required to disclose these conditions when securing health insurance.
Can I use my insurance if I travel to another country?
If you have an international health insurance plan or a travel insurance plan, you may be covered in another country. It is vital to refer back to your plan details before you travel to see if you will be covered at your destination.
Conclusion
Getting the right insurance plan is vital for an expat working in a foreign country. It is crucial that you assess your medical needs and requirements and conduct research on different insurance plans from different insurers to find one that caters to your needs and requirements.
Securing the right insurance as an expat provides you with peace of mind that your medical needs will be covered in the case of emergencies, allowing you to fully enjoy your expat experience but finding the right insurance plan can be a daunting task. This is where Pacific Prime can help!
As a global insurance broker with over 20 years of experience in the industry, Pacific Prime’s team of experts can help you sort through countless plans from different insurers to help you find the best insurance plans.
Contact us today for a free plan comparison and an obligation-free quote!
Born and raised in the cultural melting pot that is Hong Kong, and having studied at an international school, Vista has developed a multicultural perspective that he uses in his writing and strives to connect to people of different backgrounds.
In his free time, Vista enjoys immersing himself in different worlds, from video games to light novels and movies. His hobbies help him expand his writing style by putting himself in the point-of-view of different people and characters.
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