Travel medical insurance can be a wise investment for students
studying overseas and for travelers whose regular health coverage
does not cover them beyond their home country. However, before choosing
a travel medical insurance policy, travelers need to be aware of
what their policy should include.
Travel Medical Insurance Policy Benefits
When choosing a travel medical insurance policy, students and travelers
need to know what they will be getting for their money. There are
a wide array of policies available, and they are not all created
equal. One difference is the length of the policy. Policies can
cover individuals for as little as one month to as long as several
years. Travelers should, therefore, choose a policy which will fit
his or her travel plans best.
Another difference is what some of the plans cover. For example,
some travel medical insurance policies cover prescription drug costs
while others do not. Another example is repatriation. If a policy
holder dies while overseas and his or her policy covers repatriation,
then the remains will be returned to the home country and the costs
will be covered by the policy.
Travel Medical Insurance Basics
In addition to understanding the specifics of travel medical insurance,
it's important for travelers to know the basics of all insurance
policies so they can compare policies effectively. After all, the
lowest premium does not always provide the best health care.
Travelers should compare the plans' deductibles. The deductible
is the amount of money the policy holder must spend out-of-pocket
on heath care before the plan will "kick in" and begin covering
the bills. A lower deductible usually translates into a higher premium,
but travelers need to decide whether the extra money may be worth
the savings if an emergency does occur.
Another aspect of the plans to compare is co-insurance. Co-insurance
refers to how much of the bill is paid by the policy and how much
is the responsibility of the policy holder. For example, the policy
may state that 90% of hospitalization costs are covered by insurance.
That means if the policy holder incurs a $10,000 hospital bill,
then $9,000 of that bill will be paid by the policy while he or
she is responsible for the remaining $1,000.
More Information on Travel Medical Insurance
To learn more about travel medical insurance, read "International
Medical Insurance." Additional information about travel medical
policies is available at Westwood
College's web site and at the International
Student Organization's web site. Travel
Nursing is a related topic.
