Archive for the ‘Travel Insurance’ tag
Will Someone You Know or Employ Be Traveling Abroad — What Happens to Health Coverage?
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Free and Non-Binding Unless User Actually Makes Application
Most people are not aware that the vast majority of health care coverage (i.e., health insurance policies, employee sponsored plans, Medicare, etc.) actually stops at the U.S. border. Many people are virtually “bare” (i.e., without insurance) during their stay overseas – although admittedly, most think otherwise. In some cases, there is minimal emergency or medevac coverage via a domestic plan. However, when substantial services are required immediately in a foreign country often the result is significant out-of-pocket costs. The suprise is often daunting to the traveler, family and/or friends.
There are many different categories of persons abroad, from the tourist, to the short-term business traveler, to the long-term expatriate. Within those categories there are often specialized needs for diffent groups depending on their length of stay and purpose abroad. For a broader discussion of the different sub-groups click here.
For an employer with personnel deployed abroad and promising extended health coverage, the cost of using a domestic employer sponsored health plan to pay the costs incurred in a foreign country rarely is the most cost-effective method of providing coverage for those individuals. [Note: for employers with 3 or more persons deployed abroad and 50 or more active employees in the U.S., BBCG has another portfolio of long-term and short-term international healthcare products provided by CIGNA International. We have found that those products may have more appeal to the corporate purchaser.]
For tourists, there is often a false sense of protection perceived in the typical travel insurance provided via their travel/tour operator. Rarely are the limits high enough to offset a major medical event. They are designed for emergency care with limits that rarely reach $50,000. An emergency heart by-pass procedure in Rome is going to cost a lot more than that!
IMG Global, as the managing general underwriter for Sirius International Insurance Group, has developed a uniquely high level of specialized expertise in meeting the needs of different types of travelers abroad. Please click on the graphic above for detailed information on international insurance designed for various travelers. You can also make application directly from that link for most products.
If you have additional questions, please click here for a direct email link to BBCG.
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