Playing it safe

Take care while abroad

Finding the right medical healthcare insurance is the first step to taking care of yourself and - if applicable - your family abroad. But as with many things in life there are always a million and one external factors likely to affect the level of treatment you receive if anything does go wrong. There are some revealing statistics out there. The US, unsurprisingly, has the highest healthcare expenditure on the globe as a percentage of GDP, followed in second place by Nicaragua, then Germany, with Switzerland and Argentina in fourth and fifth position. France and Israel both appear in the top ten, with the UAE at number 25 and the UK is nowhere to be seen.

For those with upcoming postings to Bermuda, Mozambique or Oman, the bad news is that that these countries spend the least on the planet, as a proportion of GDP, on healthcare.

But the fact is, in each and every country, a good health insurance provider will understand the nature of what's on offer and make sure this knowledge works for you. You can never assume anything it seems. Take Bermuda, which has an air of sophistication, the second highest GDP in the world and happens to proportionately spend very little on its healthcare.

Health insurers should be your guides through this maze. But choosing that provider is not as straightforward as it may initially appear. Last year was apparently an extremely strong year for the international health insurance market, witnessing the introduction of new players into the market, effectively increasing competition and so choice for the consumer.

As such, many more people are turning to brokers like Medibroker.com or Independent Healthcare Consultancy for guidance through the policy maze. But if you're on your own, what to look for? Policies are increasingly expensive year on year so value for money is at the top of anyhow can you ensure you are getting value for money?

Many people will opt for a household name or larger provider because that in itself offers a sense of security. The insurer should also be financially solvent and in a position to offer you the broadest range of benefits giving you the level of coverage you need without quibbling over the settlement details in the event of an emergency.

Single providers like Bupa International or Interglobal, which concentrate purely on health insurance, have the advantage of specialisation. But may also have less of a financial cushion than those providers with ther strings to their bows in other sectors like investments to provide ballast when times get tough for health insurers. PMI Checklist

Choice of Hospitals and Clinics

Does the policy allow you and your doctor freedom to choose the hospital or clinic in which you are to be treated? Some policies operate a restricted list of hospitals and clinics, limiting the choice you and your doctor have.

Direct payment

Does the policy offer automatic direct payment to Hospitals and Clinics in full settlement of all your eligible in-patient treatment claims, regardless of location (provided of course you are covered)? If not, you could be out of pocket while your claim is being processed.

Pre-existing medical conditions

Does the policy cover pre-existing medical conditions or exclude them? Some policies exclude pre-existing medical conditions permanently from cover. Some policies postpone cover for five years and some postpone only for two years. After these periods of postponement (moratoriums), the pre-existing medical conditions may become eligible for cover - provided the medical conditions have not recurred in the interim.

Emergency Evacuation and Repatriation

Some policies only cover travel costs - not accommodation costs. Does the policy cover both outward evacuation costs as well as the return costs? Some policies only cover you one way. Does the policy cover travel and accommodation costs of family members or a business colleague to accompany you?

Out-Patient Medical Treatment Cover

Do consider a policy that covers out-patient medical treatment - unless you have a specific reason for excluding it. Some policies will restrict the level of benefit, others will provide full cover.

Doctors' charges

From the wording contained in the various product brochures, it is easy to assume that Doctors' / GPs' charges are included and covered only to discover - usually after the event - that not all policies will cover you. Others place a limit on the amount payable.

Out-patient claims: delays

Does the policy give any undertaking to limit delays? Some policies contain guarantees of maximum turnaround time on claims. Some will even pay you a penalty if they exceed their guaranteed turnaround time. Going for settlement guarantees makes sense.

Dental treatment

In the event of an accident in which a person's natural teeth are damaged, the actual cost of dental treatment could be significant. It is advisable to consider a policy which provides full cover or at least a high level of benefit.

Compassionate emergency travel home

In the event of death or critical medical condition of a close family member of yours in your home country, will the policy cover you for the cost of a return airfare to travel to and from your home country? It might be well worth selecting a policy that includes this benefit.

Home country cover

What happens if you return to your home country? Will the policy cover you while you are in your home country? Some do, some don't. Select a policy that covers you in your home country.

Legal expenses and personal legal liability cover Inclusion of these two benefits in a policy can provide you with a distinct enhancement. Were you to suffer accidental bodily injury caused by a third party, your policy will not only cover your medical expenses, but will also indemnify your legal costs in pursuit of a claim against any third party responsible.

Voluntary deductible (excess)

If you consider yourself particularly healthy and the likelihood of your claiming for medical treatment is low, then it could be worth your while taking a closer look at policies which offer you a reduction in premium if you are prepared to accept a voluntary excess.

No Claims Bonus

If you consider yourself particularly healthy, do have a look at those policies which offer you some benefit for the years your policy may remain claims-free.

Cancellation

Does the policy allow you a "cooling off period" in which you may cancel the policy if, for whatever reason, you feel it does not meet your precise. And if so, will the premium be returned in full?

International Helpline

Does the policy provide around the clock personal service? Does it give you access to a multi-lingual international helpline 24 hours a day, 7 days a week? Make sure it does