Am I covered by my health insurance if I’m traveling overseas? Do I need extra health insurance as an American traveling abroad? What happens if I have a medical emergency while I’m traveling?
If you’re planning a trip abroad this summer, you may have asked yourself these questions. Medical travel insurance may be the solution to these worries; however, it’s not the ideal choice for everyone, depending on your travel plans and any pre-existing conditions. Here are our Do’s and Don’ts of medical travel insurance from a CERTIFIED FINANCIAL PLANNER® professional.
Do: Disclose Pre-Existing Conditions
When applying for medical travel insurance, it’s important to be up front about any pre-existing conditions. While it may be tempting to leave out certain diagnoses to reduce your premium, doing so can result in a denied claim, particularly if your condition is linked to the reason for seeking care while abroad.
Some insurance providers offer waivers for pre-existing conditions if you purchase your policy within a certain window after booking your trip. If you have a chronic condition or have recently experienced a medical event, it’s worth exploring plans that include this option.
Don’t: Assume Your U.S. Health Insurance Covers International Care
Many Americans are surprised to learn that their domestic health insurance doesn’t provide coverage outside the United States – or offers only limited benefits. Medicare, for example, typically doesn’t cover health services received abroad.
Medical travel insurance can help fill in these coverage gaps by covering emergency medical care, hospital stays, and sometimes even follow-up visits. If you’re unsure what your current plan covers, reach out to your provider or work with an advisor to review your options.
Do: Look for Emergency Medical Evacuation Coverage
If you’re visiting a remote destination or an area with limited medical infrastructure, consider a plan that includes emergency medical evacuation. This benefit can cover the cost of transporting you to the nearest qualified facility or even back to the U.S. if medically necessary.
Evacuation services can cost tens of thousands of dollars out of pocket, so this type of coverage is a critical consideration if you’re traveling to less-developed areas or have a particularly adventurous itinerary.
Don’t: Overlook Policy Limits
Before purchasing a plan, carefully review its coverage limits. A lower-cost policy might seem like a good deal at first glance, but it may not provide adequate protection in the event of a serious illness or injury. Look at the maximum coverage for medical expenses, hospital stays, prescriptions, and repatriation.
Do: Choose Coverage That Matches Your Itinerary
No two trips are the same, and your insurance coverage should reflect that. Are you planning a relaxing stay at a resort or are you embarking on an adventure-focused itinerary that includes skiing, scuba diving, or hiking in remote regions? Some insurance plans exclude high-risk activities, so it’s important to choose a policy that reflects your travel style and destination.
Additionally, review the list of countries your plan covers – some providers exclude certain regions due to travel advisories or political unrest.
Don’t: Leave Without Your Policy Details
Be sure to carry a copy of your policy information with you while traveling, including contact numbers for the insurance provider and instructions for filing a claim. Having both a printed copy and a digital version stored on your phone or email can help ensure you’re prepared in an emergency.
It can also be wise to leave a copy of your policy with a friend or family member at home who can assist in coordinating care if needed.
Do: Understand the Claims Process in Advance
If you do need to use your coverage, understanding the claims process can help reduce stress during an already difficult time. Most providers will require supporting documents such as receipts, discharge notes, or physician statements to process your claim.
Before your trip, review your policy’s claims procedure so you know what to expect and don’t forget to keep documentation of any care you receive while abroad.
Medical travel insurance can be a useful tool to help you achieve peace of mind while you explore the world. Whether you’re managing a pre-existing condition, visiting a country with limited access to care, or simply want to be prepared for the unexpected, having the right policy in place can allow you to travel with greater confidence. If you’re unsure what kind of coverage is right for your trip, a financial planner or travel specialist can help you evaluate your options.
