What type of health insurance plan will I need when I move overseas
Pacific Prime can offer a range of expat health insurance plans for individuals and families moving overseas. Pacific Prime works with over 55 global health insurance companies, some of which include the top leaders worldwide in providing international medical insurance coverage.
Expatriates are generally offered the choice of two types of health insurance plans: local health insurance and international health insurance. A local health insurance plan and an international health insurance plan will typically include a range of hospital and outpatient benefits, plus the option to add on other benefits such as dental or maternity. While both plans offer a range of inpatient and outpatient treatment coverage, the overall level of benefits will vary greatly.
An international health insurance plan will typically include worldwide coverage, entitling you to treatment and benefits in any country worldwide. Whereas a local health insurance plan will normally entitle treatment within their residential country and offer a limited level of medical benefits when traveling abroad. For example, a local health insurance plan will normally put a limit of up to 90 days (emergency treatment only) when traveling overseas.
In addition, an international health insurance plan will usually include medical evacuation and repatriation benefits, which will entitle the policyholder to air transportation overseas (if a high level of medical care is not available in a local hospital). International health insurance plans will normally offer other benefits such as guarantee renewal. This benefit will guarantee the renewal of a health insurance policy, regardless of age or a chronic health condition that has been acquired since the policy holders' last renewal. While international health insurance plans guarantee renewal of health insurance at the end of every policy year, local health insurance plans will typically be unable to offer this benefit.
Another consideration is global portability. An international health insurance plan will normally allow the policy holder to carry their health insurance membership overseas if they decide to relocate or return to their home country. There will also be no interruption to waiting periods that have been completed by the policy holder. Whereas local health insurance plans will normally be unable to offer global portability. So if the policy holder moves abroad, they will need to apply for a health insurance plan, which may be difficult if a chronic health condition has been acquired.
Together, these are some of the main reasons why expatriates tend to sway towards the selection of an international health insurance plan, over the selection of a local health insurance plan. With an international health insurance plan, policy holders are assured they will have worldwide access to quality health care, for the rest of their life.
For more information on the Expatriate Health Insurance Plans or to receive a free global health insurance quote, please contact one of our dedicated advisers today.
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