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International Health Insurance for Expats in Monaco
Expats and travelers visiting Monaco will be able to purchase international health insurance plans from renowned insurance providers. French and Italian citizens are entitled to the country's public healthcare if they provide proof of contribution to their home country’s healthcare scheme.
Recommended International Health Insurance Plans for Expatriates Living in Monaco
The Healthcare System in Monaco
The Monegasque public healthcare system is a state-funded healthcare system called the Caisses Sociales de Monaco, or CSM for short. In Monaco, all citizens and long-term residents are required to contribute to CSM for access to public healthcare facilities.
French and Italian citizens are also entitled to public health facilities in Monaco provided they have evidence of regular contribution to their home country’s state healthcare scheme.
Foreign visitors can receive health treatment at all public hospitals and clinics. However, without state insurance contributions, travelers and expatriates will be forced to pay for all healthcare expenses accrued from treatment.
Medical costs in Monaco can be very expensive, foreign nationals should have full comprehensive health coverage. It is also recommended for expats to include cover for repatriation in case of extreme medical circumstances and the need to be medically evacuated to the home nation for further treatment.
European citizens should take note that Monaco is not a member of the European Union and therefore, EU reciprocal medical arrangements with its neighboring countries do not apply. The European Health Insurance Card (EHIC) will not provide health coverage in Monaco.
Securing private health insurance is recommended for residents and travelers in the country to protect them from unforeseen expenses.
Employee and Employer Contributions in Monaco
It is the responsibility of employers to register new employees with the CSM scheme when they first start working in Monaco. Dependents (family members) are covered through the CSM contributions paid by employed persons in the family.
Vulnerable groups who cannot afford to make healthcare contributions (elderly pensioners, the unemployed, those with a long-term illness, or women on maternity leave) can still access the state’s health facilities. Every contributor is reimbursed for the majority (80 and 100%) of their medical costs.
Public Hospitals in Monaco
Princess Grace Hospital is the only public hospital in the Principality of Monaco. The hospital operates as the state’s largest general hospital and is fully equipped with state-of-the-art medical equipment and a 24-hour emergency department.
The Monegasque government places a high priority on the quality of care provided at its state-run healthcare facilities. This state-funded healthcare system provides coverage for:
- Inpatient and outpatient hospitalization
- Prescribed medicines
- Treatment by specialists
- Pregnancy and Childbirth
- Rehabilitation
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Private Healthcare Services in Monaco
Private healthcare options are available in Monaco, provided by independent office-based doctors and specialists who cater to international clients as well as locals.
These facilities, equipment, and staff are all funded by the doctors themselves and through private insurance contributions. Individuals who want the added coverage are advised to secure private health insurance to cover the medical services and fees not paid for by the public state system.
Private Hospitals in Monaco
There are several private hospitals in Monaco that are suitable for expats including the Cardiothoracic Center of Monaco, the Rainier III Centre for Clinical Gerontology, and the Monaco Institute for Sports Medicine and Surgery.
- Cardiothoracic Center of Monaco: The Cardiothoracic Center of Monaco is a renowned private hospital in Monaco specializing in cardiac and thoracic surgery.
- Rainier III Centre for Clinical Gerontology: Located in the heart of Monaco, the Rainier III Centre for Clinical Gerontology specializes in the care of elders. Retirees relocating to Monaco will find the services will not fall short of world standards.
- Monaco Institute for Sports Medicine and Surgery: The Monaco Institute for Sports Medicine and Surgery is known for its cutting-edge treatments and rehabilitation services for athletes and those with sports injuries.
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Health and Safety Tips for Travelers to Monaco
Whether you are an expat or a tourist, there are a few tips you should be aware of such as being vigilant against pickpocketing, sun protection, and securing insurance.
Expats and travelers should be aware of the emergency numbers when in Monaco. The general emergency number in Monaco is 112.
- Vaccinations: When traveling or moving to Monaco, The following vaccinations below may be worth considering when discussing with the doctor: Hepatitis A, Hepatitis B, Rabies, Measles, Tetanus, and Diphtheria.
- Health and Travel Insurance: It is important for expats and travelers to have coverage for medical emergencies as well as medical evacuation. Expats will want to look for a plan with comprehensive medical coverage while travelers should consider a travel insurance plan to insure their visit.
Private Health Insurance for Expats in Monaco
Foreign nationals immigrating to Monaco without employment may want to consider securing private health insurance. Proof of cover will be needed to have a residence permit granted by the Monegasque authorities.
In addition, the CSM may fall short in providing adequate coverage, which is why it is best to supplement public health care coverage with private health insurance.
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Best Private Insurance Providers for Expats in Monaco
April International, AXA, Allianz, and IMG are among the top insurance companies in Monaco for expats in Monaco. These insurers offer a selection of comprehensive international health insurance plans with different tiers to suit different medical needs and requirements.
April International
With over 30 years of experience in the international health insurance market, April International is a great option for expats in Monaco. April International’s international health insurance plans are available in five tiers, Emergency Plan, Formule Basic, Essential, Comfort, and Premium Plan.
AXA International
When it comes to international health insurance for expats, AXA is an expert. Their core five international health insurance plans give expats in Monaco a variety of coverage and benefit limit options. The five core options include: Foundation, Standard, Comprehensive, Prestige, and Prestige Plus
Allianz Care
Expats in Monaco who are interested in an Allianz plan will find three core plans: Allianz Care, Allianz Care Plus, and the Allianz Care Pro. As one of the world's leading health insurance providers for expats, each one of Allianz’s plans offers comprehensive coverage suitable for expats in Monaco.
IMG
IMG offers expats in Monaco worldwide and customizable coverage with their international health insurance plans. Expats can choose between four different tiers including Bronze, Silver, Gold, and Platinum.
Facts to Consider When Picking Insurance in Monaco
When picking an insurance plan in Monaco, it is important that expats and travelers consider these key factors: personal requirements, premiums and payment options, plan customization, and exclusions.
- Personal Requirements: The first step to picking the right insurance is to first determine what your medical needs and requirements are. This will help you define what sort of coverage and benefits you need to look for when securing an insurance plan.
- Premiums and Payment Options: Premiums are an important factor you need to consider when finding the right plan for you in Monaco. Choosing a plan with flexible payment options such as deductibles and copayments will give you a compromise between coverage and premiums.
- Plan Customization: Customization is another important factor to consider when picking an insurance plan for Monaco. The ability to add or drop benefits from a plan will allow you to tailor a plan that covers you the way you need it to.
- Exclusions: While it is important to look at benefits, it is also equally important that you look at a plan’s exclusions when picking insurance in Monaco. This is particularly important for those with chronic conditions and pre-existing conditions.
Looking for the right insurance plan can be hard and requires a lot of research. To simplify this process, expats and travelers to Monaco can consider employing the help of insurance brokers such as Pacific Prime.
Recommended International Health Insurance Plans for Expatriates Living in Monaco
Frequently Asked Questions
How safe is Monaco for foreigners?
Monaco is generally considered a safe destination for foreigners. The principality has a low crime rate compared to many other countries, and its police force is known for maintaining a secure environment.
What are the primary languages spoken in Monaco?
The official language of Monaco is French. It is widely spoken in everyday life, government, and business interactions. Due to its international community and tourism industry, English and Italian are also commonly spoken and understood in Monaco.
How is the healthcare system in Monaco for expats?
Monaco has a high-quality healthcare system that is accessible to expatriates and residents alike. The healthcare facilities in Monaco are modern and well-equipped, offering a range of medical services.
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Whether you’re an expat moving to Monaco or you’re planning to visit the principality as a tourist, it is important to ensure that your visit and stay are insured. Monaco is generally considered safe for foreigners but it is important to insure yourself against accidents.
The best way to protect yourself in the unfortunate events of an accident is to secure an insurance plan that covers your needs and requirements. This is where Pacific Prime can help you.
With over 20 years of experience, Pacific Prime provides a wide selection of health insurance plans and travel insurance policies with benefit package options for inpatient, outpatient, maternity, dental, and specialist consultations.
Contact our expert advisors today to receive a free quote.
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