Healthcare insurance plans for expatriated employees

1. EXPATS CLUB
Expat insurance - Don’t go without it
Presented by Ferenc Truglya, Accident & Health Underwriter
AIG Europe Limited Branch Office in Hungary
17th February 2015

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EXPATS CLUB
What we will cover today
1. Why the insurance market deals with expatriates at all?
2. What do you as an expat have to think about?
3. Who can buy an expat insurance?
4. What are the typical benefit options of an expat health insurance?
5. Further general features
6. How much does it cost?
7. Conclusion
8. Questions

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EXPATS CLUB
Why the insurance market deals with expatriates at all?
 Due to globalization businesses are expanding their operations worldwide
 Employees and often their families move with the company abroad
 International business generates frequent executive travel and long-term
assignments between foreign locations and clients
 Companies need quality solution to insure their most valuable assets - their
employees
 Global business creates the demand for a specific international health insurance that
meets the needs of the expat lifestyle
Causes behind expat insurance
E
X
P
A
T
S

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EXPATS CLUB
What do you as an expat have to think about?
 Not all countries around the world operate a national health system
 Where healthcare system exists, foreigners often have to pay to access healthcare
services
 Where there is free healthcare available to foreigners (based on governmental treaties) there
is no guarantee that the care you receive will be to the standards you are used to in your
home country
 There could be a long waiting list before you can be treated
 The medical treatment you need may not be available in that country
 Cultural differences can make receiving medical treatment stressful
 Language barriers may cause difficulties (state-run vs. private -> poor language
knowledge vs. specialized in foreign patients)
Factors to consider regarding health care
MRI 3-6 months
CT 2-5 weeks
Ultrasound 1-4 weeks

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EXPATS CLUB
What do you as an expat have to think about?
Accessibility of European healthcare - Ranking of health systems - Talking numbers
Euro Health Consumer
Index 2014
(from 37 countries)
Top 10 Rank
Netherlands 1
Switzerland 2
Norway 3
Finland 4
Denmark 5
Belgium 6
Iceland 7
Luxemburg 8
Germany 9
Austria 10
Source: www.healthpowerhouse.com
Hungary & surrounding
countries
Rank
Czech Rep. 15
Slovenia 20
Slovakia 21
Croatia 24
Hungary 26
Romania 36
Bosnia Herz. 37
Factors
 Patient rights
 Waiting times
 Outcomes of treatments
 Range of services
 Prevention
 Pharmaceuticals deployment

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EXPATS CLUB
What do you as an expat have to think about?
 Medical costs are on the rise around the world
 Unexpected illness, accidents can often end up costing a lot of money
 Towers Watson Global Medical Trends Survey, completed every year by 173
leading medical insurers in 58 countries, found that the cost of employee health cares
are increasing rapidly
Cost of health services - You should have deep pockets without an insurance
Global Medical Trends
Year 2012 2013 2014
Global 7.7% 7.9% 8.3%
Americas (excl.US) 9.1% 9.1% 9.7%
Asia Pacific 8.4% 8.8% 9.3%
Europe 5.3% 5.2% 5.4%
Middle East/Africa 8.8% 9.8% 10.0%
Source: www.towerswatson.com

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EXPATS CLUB
Routine physician visit
$10
$11
$25
$30
$30
$38
$95
Argentina
Spain
South Africa
France
Canada
Chile
USA
Hospital cost per day
$429
$476
$665
$731
$853
$964
$979
$1 472
$4 287
Argentina
Spain
South Africa
Netherlands
France
Chile
New Zealand
Australia
USA
Appendectomy
$953
$2 245
$3 381
$3 408
$4 221
$4 498
$4 463
$4 782
$5 392
$5 467 $13 851
Argentina
Spain
South Africa
UK
Chile
Netherlands
France
Switzerland
New Zealand
Australia
USA
Normal delivery
$1 188
$2 035
$2 265
$2 386
$2 669
$2 641
$2 992
$3 541
$4 039
$6 846
$9 775
Argentina
South Africa
Spain
New Zealand
Netherlands
UK
Chile
France
Switzerland
Australia
USA
Average medical service prices from public & private sectors
Source: Comparative Price Report by International Federation of Health Plans, www.ifhp.com (Prices in 2012)

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EXPATS CLUB
Who can buy an expat insurance?
Target expat groups
Corporate employees
International Students &
Schools
Governments (diplomats,
employees of embassies)
Individual expatriates
FOR
NGOs & Non-Profit
organisations
Special areas (overseas
retired, intern. athletes &
actors, high risk areas)

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EXPATS CLUB
What are the typical benefit options of an expat health insurance?
Core Plan & Optionals
Optionals
Pers. accident
Dental & Vision
Pers. property
Leisure travel
In-patient Hospital
cash
Out-patient Emergency
medical
transport
Private
nursing
Maternity &
Childbirth
Cancer
treatment
Organ
transplant
Mental
disorders
AIDS/HIV Emergency
dental
Emergency
vision
Assistance
over phone
Political
evacuation
Third party
liability
Legal
assistance
Core
Benefits

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EXPATS CLUB
In-patient & Out-patient benefits
Wide range of covered services
Out-patient
In-patient
 Physician and specialist consultations
 Physiotherapy costs
 Prescribed medicines and medical aids
 Medical imaging, diagnostic and laboratory tests
 Preventive care and examinations
 Complementary medicine: physiotherapist, chiropractor,
acupuncturist, bonesetter, osteopath, homoeopath or Chinese
medicine practitioner
 Private room including nursing care
 Parental accommodation
 Intensive care
 All medical imaging, diagnostic and laboratory tests
 All physician fees, including anesthetist, surgeon, radiologist,
physiotherapist and pathologist

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EXPATS CLUB
Further general features
There are more inside the box
24/7 phone
assistance
Multi-lingual phone assistance
Internet
services
Manage personal details, Send claim request online, Search for
medical provider per county, per city and per specialist
Network of
medical
providers
Wordwide network of contracted medical providers
Option to choose not contracted medical provider as well
Cashless
settlement
Cashless settlement (direct billing/reimbursement – insurer pays the
medical bills directly to the provider)
Pre-ex medical
conditions
Pre-existing medical conditions can be covered as well
No medical
questions
In most cases there are no medical questions for enrolments

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EXPATS CLUB
How much does it cost?
It depends. Always value for money
On average
1000-2500 USD/
insured/year

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EXPATS CLUB
Conclusion
Why pay for an international health insurance? It’s all about certainty.
1. Reduce financial risk
 No more out of pocket medical
expenses
 Good insurance literally saves you
from bankruptcy
2. Receive world class treatment
 Having an international health
insurance policy provides you
access to the best medical
services
3. Worry less
 If the worst happens, you will have
the peace of mind knowing that
your and your family health is
covered
4. Be healthier
 Regular health checks are a
common feature of international
health policies. Prevention!

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EXPATS CLUB
Ferenc Truglya
Mail: ferenc.truglya@aig.com
Mobile: +36 30 445 5772
Expert
in
expat
insurance
Questions