International health insurers take many factors into consideration when assessing the cost of your insurance. These include:
This is a question we are often asked. The answer, depends on the answers to several questions including:
- What kind of cover you need?
- How long you require cover for?
- The add-ons or cover for pre-existing conditions needed.
What influences the cost of my insurance?
Geographic location
The cost of health care in the country you are moving to will have an impact on the cost of your insurance. For example, if you are moving to the United States where healthcare is more expensive your premium is likely to be higher than if you are moving to Europe. To mitigate these costs for the consumer many health care providers offer insurance by geographic location. Allianz Care offer expat health insurance that excludes medical cover in the US at a reduced premium when compared to worldwide cover.
Payment method
How you choose to pay for international health insurance can impact the overall cost. Many insurers put a percentage charge for paying in quarterly or monthly instalments, even the card you use to pay can have an impact. To save money, pay annually by bank transfer or using a debit card.
Your age
Many providers take your personal circumstances into account when quoting for international health insurance and your age plays a part in this. In general, the older you are the more healthcare you are likely to require so your premium may be more. In this regard we always recommend looking for a plan that is right for your stage of life.
Extras required
The extras you require are going to vary depending on your needs. Some options include:
- Maternity cover
- Extended outpatient cover
- Dental cover
There are ways to reduce the cost of your health insurance. We have included many of them in this useful article.
Sample costs for International Health Insurance
Sample costs for International Health Insurance
To give you an idea of how much international health insurance may cost we have developed a few sample scenarios. None of these are based on actual customers, any resemblance is purely accidental:
The Sorensen Family
Nationality: Swedish
Ages: Bjorn, 41 Eva, 36 and Ana 3
Living in: The Cayman Islands
Although they were not planning on living abroad Bjorn received a job opportunity in the Cayman Islands that was too good to miss. Planning to stay at least two years, international health insurance is a must. The Sorensen’s believe it is likely that they will add to their family while they are abroad so they have opted for maternity cover. Having a small child, outpatient cover is also essential.
Cover in USA: No
In-hospital cover: Yes
Maternity cover: Yes
Out-patient cover: Yes
Dental cover: No
Repatriation plan: Yes
Total cost of cover: €7,104
Patrick Boyle
Nationality: Irish
Age: 35
Living in: Singapore
Patrick is moving abroad for the first time. Although he is rarely sick if he became ill he wants to be able to see a doctor straight away and he occasionally has problems with his teeth so he has opted for out-patient and a dental plan. To reduce his premium by 5% he is accepting a €450 deductible on in-patient costs. A deductible is an amount which is payable by the member and which will be deducted from the eligible reimbursable sum. Patrick is in a position to pay on an annual basis by bank transfer.
Cover in USA: No
In-hospital cover: Yes
Out-patient cover: Yes
Dental cover: Yes
Repatriation plan: Yes
Total cost of cover: €3,912
Joanne Turner
Nationality: English
Age: 33
Living in: South Korea
Joanne has been teaching English in South Korea for the last 2 years. She loves life out there and is well established in Seoul and through work has found a great GP and Dentist. She requires hospital cover, and should the worst happen while she is away, she wants repatriation costs to be covered. She also travels to the USA for training with her language school so she does need cover while she is there. Joanne is able to accept a €750 deductible to reduce her premium by 10%.
Cover in USA: Yes
In-hospital cover: Yes
Out-patient cover: No
Dental cover: No
Repatriation plan: Yes
Total cost of cover: €3,816
As you can see from these examples, we can tailor an international health insurance plan to suit your needs and budget. If you are not sure which option is right for you, please get in touch, our multilingual team of experts are happy to help.
