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In the uncertainty of the current economic times, many expatriates are looking to make savings wherever they can. Though premiums continue to rise, international health insurance is one area where there are savings to be made.
Do Your Homework
Don’t sign up for the first health insurance policy you find that covers you overseas; invest the time to compare providers, policies and prices to make sure you get the insurance cover you need for you and your family at the right price. With ExpatFinder.com’s quote and comparison service, you are one step closer to saving money on your international health policy.
Be aware that in some countries you must purchase local health insurance, or the company providing international health insurance must be authorized within the country. Check the local requirements before you throw money away purchasing a policy that is not valid in your host country.
It is also wise to talk to your employer if you are moving overseas for work purposes. In some countries, an employer is obliged to arrange health cover insurance for its employees so you may not need to take any further action.
Pay Only for What You Need
It sounds obvious but don’t pay for features you will never need. Do not opt for comprehensive cover with every option ticked just to be on the safe side. Carefully read the levels of cover and determine which is appropriate for your needs.
A good example is opting out of health insurance coverage for the United States (and Canada). Insurance cover for health care costs in the U.S. tends to be about three times more expensive than cover for the rest of the world, so exempting cover for this region saves on your policy costs if you are sure you are not visiting the U.S.
You should also check thoroughly what your regular medical insurance policy covers so that you do not pay for duplicate cover. You may find that your existing medical cover already provides some level of insurance for international trips.
If you pay your premiums on an annual basis instead of monthly, you will most likely save money on the total bill. Talk to your insurance provider and see how much you can save.