Cheap Health Plans?
Too often, a potential customer or new client will look to lowest
price or premium cost comparisons before really considering the
specific benefits and area of coverage they may actually need. The
ex-patriot client should carefully review benefits of cover
offered, check out any limits to the coverage and any exclusions
made by the insurer. Typically plans are cheaper for a
reason.
Often they include large voluntary deductibles on any claim you
might make in future, and may severely cap the benefits received
under the plan. Cover limits can vary from $50,000 USD to as much
as $5,000,000 USD total coverage. Any major operation in the USA or
perhaps an organ transplant will soon use up a "capped coverage"
plan.
Exclusions to the policy should also be read carefully and advice
taken from an independent advisor. Clients need to define their
needs first, particularly the area of coverage they need, then
their annual healthcare insurance budget. Only then should they
look to premium comparisons, last of all.
Many new entrant expatriate insurers are taking a much easier line
on HIV and AIDS issues as well as offering chronic conditions
coverage, if such conditions develop during the plan lifetime. Post
September 11th 2001, many expatriates are now considering the
purchase of income replacement insurance, term life and kidnap
insurance, or travel insurance, in addition to their health
insurance plans.