Travelling has become much more commonplace nowadays, whether it is for pleasure or business.Competitive airfares are a big reason for this. However, travelling abroad still has its hassles – mainly when it’s to do with medical emergencies. An appropriate travel insurance policy which also offers health and personal accident cover is an essential requirement. Many do not consider their medical history or carry enough money to meet simple medical issues on a trip. Also, few countries allow only prescribed medications to be carried alongwith. Many countries might not allow tourists carrying ayurvedic or homeopathic medicines too.
Invariably,in many situations, you will need to depend on the local medical facilities and infrastructure. This is also true in case of major accidents where you can require hospitalization or emergency care.These situations cancost you thousands in local currency, especially in the U.S and Europe. To stay protected against such potentialexpenses,going for a travel insurance policy is a good idea.It is always recommended to go for a travel insurance policy during overseas trips so that you and your family are fully covered during these contingencies.These days, many Insurance Companies are offering the travel insurance which includes health insurance at an affordable price too.Find out how a good travel insurance policy can help you avoid high medical bills:
How Insurance Saves Medical Bills
A one-night stay in a US hospital can cost you around $5,000 and a fractured arm treatment can cost upwards of $70,000. By all means, one would not want to shell such heavy medical bills from his own pocket. Travel Insurance policies can cover all of these expenses along with those pertaining to pre-existing medical conditions. Travel insurance with medical cover provides coverage of medical bills, Medicare and pre and post hospitalization costs. It also provides cover for permanent or temporary disability in a foreign land.
Taking a well-rounded and customized medical travel insurance plan is the best way to avoid medical bills. Let us look at the various ways of saving high medical bills while travelling aboard –
Ensure Your Travel Insurance has a Medical Cover – Most travel insurancepolicies will have a designated medical coverage depending upon your age and the country to which you are travelling. However,remember to get a customizedinsurance cover to suit your needs.
Medical Insurance– A travel medical plan will be focused on emergency medical and costs of evacuation if required. Sudden illness, dental treatment emergency, transportation (air lifting services, ambulances etc.) are also covered under these plans.
Emergency Medical Services– These are larger services that might include pulling you out of remote areas where you might be stuck during a trip, and providing transportation so that you can get proper medical attention. Also, this will cover costs related to death and transportationto your home country in such an event. Look this up especially if you are going for an adventurous trip. Always take along the toll-free numbers of your insurer (both domestic and international numbers) so that the insurer is accessible.
Coverage for All Family members – It makes sense to buy a group policy for medical emergencies if all of you are travelling together. This will give you a saving on premium as well.
Various Coverage – One should lookout for various coverage options in medical insurance while travelling abroad.
- Reimbursement for unexpected medical costs is one of them along with dental costs. This policy should also help you to pay medical facilities in advance so that you can quickly access emergency medical transport.
- The plan should cover coordinating and organizingof emergency medical evacuation services which will give temporary relief till you reach a proper hospital.
- Various travel accident benefits along with AD&D should be part of the plan.
- Also, emergency travel assistance services should be part of the plan to help you locate the nearest medical facility
All of these interim services are expensive, though quite efficient and can make a large difference between death, life and permanent fatal injury.
Various Types of Travel Medical Insurance Plans
Depending on your travelfrequency, you can consider a comprehensive cover that will help you minimize your premium costs.
Single Trip Premium Plan–This is the most commonly purchased plan and covers a tripup to six months in a single premium. It covers the entire duration and is paid up-front.
Multi-trip Travel Medical Insurance – If you are a frequentbusiness traveler, you can cover multiple trips in batches of 3, 6, or 12-month versions.
Major Medical Long Term Coverage– These are again for frequenttravelers but with major medical conditions which can be life threatening.This is a comprehensive medical cover and can be paid up on a monthly basis.
Specifics of the Insured
Another way to save on high medical bills is to ensure that the insured has a clean bill of health. Various insurance parameters are checked for this – medical history, age, general health, smoking status, weight, and pre-existingconditionsthat can affect the premium.
A customized medical insurance plan will be beneficial for people with serious issues or taking a long multi-country trip.
Thus, after comparing various plans and quotes, you can make the best decision dependingon the trip and your specific requirements.Making travel plans is easy but it is equally important to carry a travel insurance policy along which gives you health insurance. This way, you won’t end up paying hefty medical bills.