Sometimes it is great to mull over the idea of living in another country. For example, living close to the equator, a serene location where tropical breezes lull you into a state of tranquility and ease your mind and soul in a way that you cannot find in any other latitude in the entire world.
Equally, a low cost of living can still be inviting, especially if you are reaching your golden age and ready to retire. The best thing to note is that there are exclusive numbers of countries that can bring this possibility even closer to you and your family.
But, whether you are preparing to make a life-changing move to a new country of your dream, or taking a trip abroad, it is essential to select the best health insurance coverage that will cover your entire medical and health needs perfectly.
There is an overabundance of expat health insurance programs as well as policies abroad. Sometimes, knowing the best to choose can be a daunting task, especially considering that some expat health insurance policies don’t cover people after a given age. Some have strict restrictions.
To make it easy for you to secure expat health insurance while abroad, in this article, we will delve into different types of health insurance policies and fundamental points to consider. We will also give an overall about the health insurance in Vietnam for expats and advices to find a personalized health insurance program here in Vietnam. But, let’s see why you may require an expat health insurance in the first place.
Why Expats Expat Health Insurance Is A Must?
One of the primary reasons why, as an expat, you need an expat health insurance cover is because it is a legal requirement in some countries. It is not the case right now in Vietnam, but countries like Thailand just updated the law recently and retired people must own a health coverage if they want to apply for the retirement visa in Thailand. In those cases, the office of immigration, which grants you a visa, may occasionally request you to submit proof of health insurance that covers your medical needs or health.
Another crucial reason is that health insurance covers any medical costs that may ensue while living in a foreign country. At some point, the health care costs may be expensive, particularly when you are diagnosed with a severe health condition or when you need emergency health care or treatment of an acute health condition, for example, some cancer types.
What you should know about Expat Health Insurance?
An expat health insurance, or also referred to as international health insurance cover, is a type of medical insurance that covers all the health expenses or costs of people living or traveling abroad or to a foreign country.
In most cases, the countries that you will be traveling to will possibly have an entirely different or unique health care structure as compared to your country of origin. In this regard, you may possibly, like it is common with many expats abroad, consider receiving your health care services in a private hospital, which mostly charges an arm and a leg – at a premium.
Expat health insurance programs cover most of your medical costs, for example, hospital emergencies, as mentioned before, especially those that need hospitalization. This includes expenses associated with preventive as well as out-patient health care, for example, General Practitioner (GP) visits. These types of insurance plans are particularly tailored. On the same note, they include insurance limits, policy benefits, as well as coverage levels that can be tailored to fit your medical needs and financial situation or ability.
Factors to consider when choosing the Best Expat Health Insurance Plan
Before you start selecting the best health insurance that will cover all your medical needs while living in a foreign country, you need to factor in several crucial factors. Frequently, every expat will ask some questions before resulting in a final decision. Renowned and experienced attorneys in expat health insurance matters recommend the following pointers:
Know all your medical needs
Even though you are planning to live entirely abroad or whether you are expecting to stay in a foreign country for a while, you must put into consideration a set of medical coverage that you may require during your stay abroad. Will you require only out-patient health care services only, or will you, at some point, require inpatient emergency care? Do you need optical or dental care while abroad? Those questions will help you to evaluate what may be the costs of having an expat health insurance in Vietnam.
If you are expecting a baby: do you still require maternity insurance cover while abroad? At this point, establishing your insurance policy benefits is exceptionally essential, especially when it comes to selecting the best health insurance coverage.
Learn about the geographic coverage
It is essential to know the kind of medical care type that you will need while living abroad. Equally, it is essential to know where you are expecting to be covered by your health insurance program. This information will help you to select the best health insurance plan for your specific health needs, counting on where you will reside while abroad.
If you are still not familiar with expat health insurance, it is essential to note that the cost of your insurance plan will greatly be pegged on exactly where you will reside abroad. If you desire to be covered regionally or globally (including or not including the U.S.), it’s up to you.
Factor in the policy limits
It is as well crucial to ensure that the insurance plan you will select will include the right policy limits. This entails the sum of the claims that can be made per year. This will help you to ensure that you are correctly and fully covered.
While enjoying every bit of your life in a foreign country, you must ensure that your expat health insurance coverage does not deplete halfway through your high-priced medical treatment. For you to establish the much the insurance policy that you will require, you can check how much distinctive health care procedures can cost in the country that you are traveling to, or simply speak with your legal expat health insurance advisor for more on the right policy limits.
Expat Health Insurance for Family
If you cherish traveling abroad with your entire family, then you need to consider expat health insurance for your family. This is certainly the best decision you can make that goes a long way to protecting the health needs of your family members. This is also a great idea that will ensure that your family gets access to the best health care facilities even when abroad, without leaving you worried about medical bills.
Having a baby in Vietnam as an Expat
This concern is even more true when you consider being pregnant in Vietnam and get a baby.
Just like individual health insurance plans, family health insurance plans are as well extremely tailored. It allows you to select the best health benefits and coverage levels effortlessly.
Important Attributes of Family Health Insurance Plans
As a loving family person, you must keep tabs with the following factors, especially when looking for the best expat health plans. The following pointers are also essential when it comes to weighing against a thorny list of expat health insurance plans available to you:
- Many health insurance plans are usually renewable yearly, counting on the specific health insurance provider.
- Family health insurance plans can be personalized to meet expat family needs, especially globetrotters.
Expat Health Insurance Considerations for Pre-Existing Health Conditions
Many people often have pre-existing medical or health conditions that may require proper and the right health insurance coverage. In this case, note that health insurance providers will always request your medical history so that they can understand any of your pre-existing medical conditions and how they can be well included in the health insurance plan while abroad.
But in the first place, you must understand what it means by a pre-existing health condition. This information will help you when selecting the best health insurance provider abroad. Mostly, every health insurance provider has a distinctive definition of pre-existing health conditions. Moreover, usually, a pre-existing health condition can mean any of the following four health aspects:
- An unknown existing health condition that you don’t know anything about, such as a tumor or lump in any part of your body;
- A health condition/illness or bodily injury notwithstanding when or where it took place, which you possibly have recovered from, for example, a fracture of the leg or arm that you acquired while playing football back in high school;
- Continuing treatment that you are still receiving, from a health care setting, particularly, for existing health illness, for example, blood transfusion or therapy and;
- Health-related symptoms that are still not diagnosed by a professional health care provider, and therefore, need treatment and care, for example, bleeding or aches.
Living or traveling abroad comes with a raft of benefits, including achieving maximum comfort with our lives. This may be a precious chance for you and your family to reflect on the cultures and values of your home country and that of your host country. This priceless time of reflection is what makes expats arrive at a divine definition of who they are in reference to other people. This includes keeping pace with new developments in different countries and appreciating them as well.
Despite all the blissful benefits that come with living in a new country, your health and that of your family comes first in mind. Sometimes, finding the right expat health insurance provider in a foreign world can be a legwork. A reasonable attorney with extensive experience dealing with expat health insurance issues can be the right fit.
Grab this opportunity and get personalized expat health insurance solutions without frittering away your time or money. Health is your most enormous wealth, and it doesn’t break a bone to put your health above everything else while living or traveling abroad.