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Is A High Deductible Major Medical Policy Right For You?

April 7, 2013 By Catherine Burdine

how to prepare for your international health careMany people planning to retire abroad start saving for self insurance plans.  Although it’s good to have a reserve on hand, major medical expenses can run to such high totals that self-insurance isn’t a reasonable option even for the wealthy.   A high deductible major medical policy can be a good compromise.

Benefits of a Major Medical Policy

With typical, domestic health care policies, medical insurance pays a portion of medical bills, helping to make routine medical care more affordable.   HMO policy plans focus on paying all but the smallest amount of every procedure.

A major medical policy reverses the typical health care policy and pays for the excess expense of high priced procedures but covers little of the costs of routine visits and other inexpensive medical treatments.

The payout for a major medical policy begins when the chosen deductible amount has been met.   High deductible policies have deductibles in the thousands of dollars, meaning they pay for only the most expensive medical treatments. In exchange, the higher the deductible on a policy, the lower the premium payments.

Plan For Both

Combining an international, high deductible major medical policy with a health savings account is a great option for expats.   If you choose a $10,000.00 deductible, set that amount aside in an account specifically ear marked for health care and contribute what you can each month.   Although HSA’s are only available with domestic, US health plans, setting aside your deductible will offer you piece of mind during a medical crisis.

Filed Under: Expatriate Life, Major Medical Information Tagged With: high deductible major medical policy, major medical policy, retire abroad

International Major Medical Health Insurance

Are you living abroad full or part time and concerned about critical illness or accident coverage? If you spend six months a year or more outside your home country, you qualify for international major medical insurance.  The six months do not have to be consecutive and you do not have to report your comings or goings.  In the event of a claim, your stamped passport is proof of your travels should the claim … Find Out More

Medical Travel Insurance

American Insurance for Expats offers Medical Travel Insurance. Coverage is per day or per month.  Choose your length of time, your policy limits and your deductible. No medical underwriting, coverage starts as soon as the next day. Click Here to Apply Now! You have enough to worry about when you're traveling. Don't let your medical coverage be an uncertainty. Our international travel insurance offers excellent … Find Out More

Vacation Travel Insurance

Protect Your Hard Earned Money  Our Vacation Travel Insurance is designed to provide essential coverage for trip cancellation, travel and baggage delays as well as emergency medical treatment. Vacation travel insurance is perfect for U.S. residents taking international or domestic vacations. Even the best laid plans have to be changed sometimes due to circumstances beyond our control.   Vacation Travel insurance … Find Out More

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