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Why Is Expat Insurance Important?

If you are moving abroad to work on a permanent basis, one factor to consider is expat health insurance. Expat health insurance is for those who live and work overseas, because the type of health insurance you receive at home may not be valid in other countries. Furthermore, there may be an increased need for health insurance coverage, depending on the country to which you are moving.

  1. Increased Need

    • Some areas of the world have higher risk of personal injuries. This may be a result of poorer quality roads, less stringent safety regulations and higher levels of pollution. In addition, some areas have a higher incidence of infectious diseases, such as malaria, cholera, typhoid and hepatitis. Such diseases may not be as prevalent in your home country, and thus having health insurance while abroad may be more important.

    Quality and Costs

    • The quality and cost of health care differs around the world. Some countries have relatively cheap health care; however, the quality may be either low or high. The decision to buy expat health insurance should revolve around both of these factors. Consider the worst case scenario, and conduct research on the health care sector present in the country to which you are moving. Both high costs and low quality are good reasons for purchasing expat health insurance.

    Legal Requirements

    • Some countries require expat workers to take out health insurance. This may be for two reasons. The country may offer a subsidized health care system that provides health care for free or at a reduced cost for its citizens. However, such health care is usually paid for by taxation, from which some expats are exempt. Thus, expats must pay for additional insurance coverage for health care in such countries. The other reason is that some countries may operate a health care system in which all citizens are required to have health insurance if they are to benefit from health care.

    Purchasing Expat Insurance

    • When purchasing expat health insurance, it is important to find a company that has a considerable amount of expertise in offering insurance packages to international clients. That company should be familiar with your specific region and the costs and risks associated with it. Insurance providers that operate offices in your overseas region may have better knowledge of the health care system in that country.

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