The last decade has brought changes to many aspects of business. We’ve witnessed the effects of globalisation, disruptive innovations in various business industries, the rise of a changed working environment, increased mobilisation of the workforce, and new ,improved, ways to do business.
The changes that we’ve just mentioned has also affected global based companies, especially over the last 10 years. Due to various improvements in the telecommunications area and the expansion of Internet services worldwide, the availability of private healthcare insurance to expats has never been more appropriate.
When we look at number’s , the expat health insurance market is growing at about 10 percent annually, on a global basis, with more and more available options and plans. However, statistics show that of the 30-40 million estimated expats that are living or working globally, it is estimated that under half do not have valid healthcare insurance plans.
A very undesirable situation but what are the reasons for this ? A lot has to do with the fact that companies are now sending their employees to work abroad more than ever before. Usually the insurance is usually covered under the company’s health insurance plan. However, in some cases, expats are not covered by their company’s policy and have to negotiate an insurance clause into their contract. So what is vital to understand is the type of insurance that is offered by your employer, as it makes the biggest difference.
There are many pitfalls when choosing both individual and corporate expat health insurance plans. Committing the biggest schoolboy error of all is being naive and assuming that you and your family are young and healthy and not actually obtaining the health insurance available. This is is sadly omnipresent amongst mobile workers and has led to dire situations and very hefty bills to pay. Another mistake that expats tend to do is choosing a plan that is based on price alone. Let us put it this way: if one plan is a lot cheaper than other plans in the market, there’s always a good reason for it. Quality when taking care of your health should come first!!
There are many insurance providers out there but but one of the most popular choices when it comes to expat insurance is Aetna International. Hugely popular amongst the expat community and for good reason .The company has gone to every length to make sure it provides universal care especially for those who work abroad.It has a solid background in providing an umbrella of insurance products, including health, Medicaid, dental, pharmacy, group life and disability insurance. It is also one of the leading providers of health insurance for the mobile
worker and where it is very strong and why so many mobile workers choose them is that it been recognised by having an outstanding customer service experience. This is something very high on the list of expats and for obvious reasons.Last thing you want is when your in a foreign country and possibly not speaking the language and you don’t have the professional backup to deal with hospital and medical emergencies.
One of the many reasons why Aetna’s health insurance is so popular is the fact that there are so many different options to choose from, as the company offers its customers a wide range of individual, family, Medicare and employer health insurance products. It also offers long-term care insurance and employee benefits, primarily through employer-paid (either fully or partly) insurance and benefit programs, and through Medicare. Aetna has even gone so far as to collaborate and develop world-class health systems for governments, corporations and providers all around the world.
When it comes to choosing a plan it is important to choose a plan that can cover a pre-existing medical condition. It seems people somehow tend to oversee this, as most insurers usually exclude pre-existing medical conditions or charge an additional premium to approve the application. That’s why finding the right company with proper insurance plans is of utmost importance.
People also tend to not obtain maternity, evacuation coverage or a plan that covers treatment in the USA. Moreover, if you are an expat with prescribed drugs or under chronic medical conditions, obtaining prescription drug coverage is no less than vital.
And of course when choosing an expat health insurance policy, it is always worth looking over the fine print with a tooth comb, as it is the fine details can be the difference of what is covered and what is not . Sadly some providers deliberately obfuscate the small print which is why it should never be overlooked.
Choosing the right health care coverage has always been a difficult decision, and it strongly depends on where you are going and under what conditions. Some countries provide free state healthcare, while others don’t. But in the end, international expat healthcare insurance is all about being able to sleep peacefully at night, knowing that you are covered in case of emergencies or the peace of mind so that a very expensive medical bill is not lurking around the corner.