Archive for the ‘Expatriate Insurance Terminology’ Category
Tuesday, April 3rd, 2012
When searching for an international health insurance plan it is important to know what you will be expected to pay for after you have already paid your premium. One obvious way to get familiar with your insurance plan is to review the benefits of the plan to see what is included in your coverage. Another way to gain great insight into what a plan has to offer is by looking over any exclusions to see what won’t be covered. From the benefits and exclusions you will be able to get a good idea on whether the plan in consideration includes everything you are looking for.
After you have found a plan that has the type of coverage you are searching for, you will want to research the out of pocket expenses that will be expected of you. Plans often have a deductible or coinsurance that you will be responsible for if you utilize the insurance.
For those wondering what exactly a deductible and coinsurance are, here is some insight that might help you out:
Deductible: The deductible is the amount you are required to pay out of pocket before your insurance company will pay on any eligible expenses. Some plans have a deductible that is already established while other plans allow you to choose your deductible. Depending on the plan, certain benefits might be exempt from a deductible.
Coinsurance: The coinsurance is what you pay along with the insurance company and can vary greatly from plan to plan. The coinsurance is broken down by percentage such as 20/80 meaning you would be responsible for 20 percent of the eligible expenses while the insurance company would be responsible for 80 percent. The coinsurance will continue to a pre-determined cap, and then usually the insurance company will cover the remaining expenses up to the policy maximum. Depending on the plan, benefit and circumstance of usage, the coinsurance is sometimes waived.
In order to know what you can expect regarding out of pocket expenses, it is important to know your international health insurance plan’s deductible and coinsurance. If you would like assistance in finding a plan that has a deductible and coinsurance that fit your needs feel free to contact one of our agents today.
Tags: deductible and coinsurance, International Health Insurance
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Tuesday, February 7th, 2012
Repatriation of remains coverage is an important benefit to have in an insurance plan and it is often a required benefit. Many individuals might not quite understand what the term repatriation of remains means as it is not a term used in everyday conversation.
So what exactly does repatriation of remains mean to someone who is shopping for an international health insurance plan and why is it important?
Although no one likes to think of the worst possible scenario when planning for a trip, it is often necessary in order to be prepared. In the event of an accident or even a death, medical bills and other expenses should be the least of worries for the individuals involved.
With that being said, repatriation of remains is coverage for the worst case scenario. It is a benefit that provides coverage for the transportation of the covered individual’s bodily remains back to their area of principle residence, in the event of a covered illness or injury that results in death.
For individuals who are traveling for a minimum of 5 days up to 3 years, the Atlas Travel plan provides coverage for repatriation of remains along with its other benefits. This benefit will provide coverage up to the overall maximum limit of the plan.
Individuals who will need coverage for repatriation of remains for a longer period of time might be interested in exploring the Global Medical plan. Those with the platinum level Global Medical plan will have the return of mortal remains benefit along with many other benefits such as hospital room and board, out-patient care, maternity coverage and emergency room illness and accident coverage. This benefit is up to $50,000 lifetime maximum per insured and is not subject to a deductible or coinsurance.
For more information on these plans contact one of our licensed agents today.
Tags: Repatriation of remains
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Tuesday, December 20th, 2011
With today’s travel guidelines restricting certain items such as liquids, and having luggage weight and size limitations it is obvious why travelers have limited what they bring on a trip to only the necessary items. Although having only a few items is sufficient enough to get you through a trip that goes according to plan, what about the trip to the destination of your choice, that doesn’t run as smooth as planned? What happens when you run into the unexpected and need more than what you brought?
You might be thinking what sort of tank top or toothbrush emergency could I possibly get in on my trip? However, imagine this, you are taking your ‘Sound of Music’ tour through Salzburg, Austria that you have been planning for months when all of a sudden you trip down the stairs of the church where Maria and the Captain got married. Your fall lands you in the hospital. Since you brought child size toiletries in order to meet airline regulations and had budgeted in the free hotel toiletries the rest of your trip, you might be in for a shock if the hospital you are staying at does not offer these free amenities like your hotel.
However, under the Atlas Travel plan there is a hospital indemnity benefit. Hospital indemnity will provide $100 for each night you spend in the hospital as an inpatient when receiving treatment for a covered illness or injury. Hospital indemnity benefits are not subject to a deductible or coinsurance and are in addition to the payments for other covered expenses. If you need to purchase toothpaste, meals or soap because the hospital does not supply these items free of charge this benefit will allow you to do so without tapping into your travel budget.
For more information on international travel medical insurance and hospital indemnity through the Atlas Travel plan please feel free to contact one of our licensed agents today.
Tags: Hospital Indemnity, international travel medical insurance
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Wednesday, November 30th, 2011
When traveling there are certain factors that are out of our control. Of course the obvious come to mind such as flight delays and lost luggage, however there are also things that pose a more serious threat such as an act of terrorism. Since September 11, 2001 terrorism has become more of a reality than a distant topic and individuals have found that one way to battle it is by being prepared through purchasing insurance including act of terrorism coverage.
Purchasing International Travel Medical Insurance through the Atlas Travel plan provides $50,000 lifetime maximum medical coverage for injuries and illnesses resulting from an act of terrorism. However, there are certain conditions that need to be met for benefits to be provided from insurance including act of terrorism coverage:
1. The Injury or illness does not result from chemical, nuclear or biological weapons or events.
2. You have no direct or indirect involvement in the act of terrorism.
3. The act of terrorism is not in a country or location where the United States government has issued a travel advisory that has been in effect within the 6 months prior to your date of arrival.
4. You have not unreasonably failed or refused to depart a country or location following the date an advisory to leave that country or location is issued by the United States government.
Of course some use the term terrorism a bit differently than others. The man sitting next to you on the airplane clipping his toe nails is not considered an act of terrorism. The rental car company not giving you a free upgrade is not considered an act of terrorism. Just to clarify, for insurance including act of terrorism coverage through the Atlas Travel plan, an act of terrorism is defined as follows:
An act, including but not limited to, the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s) committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.
Tags: insurance including act of terrorism coverage
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Thursday, November 10th, 2011
Usual, Reasonable and Customary; most everyone knows the meaning of these three words when each is used by itself. However, string them together, pair it with the word “charges” and it raises some eyebrows. Usual, Reasonable and Customary coverage (URC) refers to a fee typically charged for a specific procedure for a specific geographic area.
This term is used when referring to insurance coverage; however the concept of this term is also used by many citizens in the United States on a daily basis, perhaps without them even noticing. Someone who lives in one area of the United States does not always pay the same price for the same goods and services as someone who lives across the country, or even across the state.
For example, Sally might normally pay an average price of $2.50 for a cup of coffee throughout New York City. However, one day she stops in at a new coffee shop that is charging $5.00 for a cup of coffee. This $5.00 is not the Usual, Reasonable and Customary charge to what other shops in New York City are charging for the same product.
Of course this is not an example of Usual, Reasonable and Customary charges within your insurance plan; however it does make the concept more understandable. Whether Sally pays the additional price for a cup of coffee is up to her. However, when regarding insurance only the Usual, Reasonable and Customary charge is coverage when URC is the benefit. Medical providers charging an amount that is not URC for a certain procedure in a certain area may not be fully covered when a plan has Usual, Reasonable and Customary coverage. URC is used to describe the maximum amount an insurance company will pay for eligible medical expenses. There is plenty of insurance terminology. Now you can be a little bit more familiar with at least one of the terms.
Tags: URC definition, URC terminology, Usual Reasonable and Customary
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Friday, September 16th, 2011
As you decide to take the big step of moving overseas, you may not want to put life on hold. In fact, many people who relocate overseas continue to think about family planning and decide to start a family abroad. In cases like these, it is important to make sure that you have an international maternity insurance that will cover you and your family internationally.
Some parents prefer to give birth overseas, while others prefer to return home for delivery. There are pros and cons to both, but you’ll need to make the decision for your family. Regardless of your preference, it is important to make sure that your international maternity insurance will cover you where you’d like to deliver. These considerations include:
- Ability to hold dual citizenships
- Military service
- Cost of delivery
- Quality of facilities and care
- Maternity and paternity leave after birth
International Citizens offers many different options for maternity coverage. Many plans have a waiting period on maternity, so it is important to know your plan including what is covered, where you are covered, and if there are any waiting periods.
Here is an overview of our international maternity insurance plans for comparison:
- Citizen Secure plan – Our Citizen Secure plan is a popular option for international travelers. You will receive worldwide coverage with the option to include or exclude coverage in the US and Canada. If you are a US citizen, you will have coverage in the US a maximum of 6 months out of every year. The plan includes maternity standard on the plan, however there is a one year waiting period before inception can occur for pre-natal, delivery and post-natal to be covered.
- Global Medical plan – Our Global Medical plan also provides worldwide coverage with the option to include or exclude coverage in the US and Canada. Like the Citizen Secure plan, US citizens must be located outside the US 6 months out of every year. This plan is available in four levels: Silver, Gold, Gold Plus and Platinum. Maternity is covered on the Silver, Gold and Gold Plus level as long as you add the optional rider when you initially apply for the plan. All three of these levels have a 12 month waiting period before any pregnancy is covered (however inception can occur before the 12 month waiting period). Births in the 11th or 12th months receive 50% of the stated benefits for maternity. The Platinum level, however, has a 10 month waiting period before coverage for maternity begins.
- Global Citizen plan – Our Global Citizen plan allows you to upgrade your plan after one year of coverage to add a maternity rider at renewal. While you cannot be pregnant when you upgrade, this will give you coverage around the world with the option to include or exclude coverage in the US.
- IHHP – Our IHHP provides worldwide coverage once the plan is in effect. Since this is a modular based plan, the most comprehensive maternity coverage on the plan would be if you include Module I. The waiting period is 12 months for pregnancy and child birth.
Tags: International Maternity Insurance
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Friday, August 19th, 2011
As you look for a health or travel insurance overseas, one of the important questions you will be asking yourself is, “how much do I need to pay out of pocket?” Remember, just because you have insurance, it does not mean that everything will be covered at 100%. Health and travel insurance plans usually have three different types of out of pocket expenses:
- Deductible - A deductible is how much you will pay to the doctor or hospital for your eligible expenses (unless otherwise stated in the plan benefits). This is usually per person and it is typically a per period year amount. This means that if you pay the deductible, you will not need to pay it again until you renew the plan. Some plans have a family maximum deductible which will cap your out of pocket expenses if there are multiple family members covered under one plan. On many of the plans offered by International Citizens, you will have the choice to choose what deductible you’d like on your plan. As you increase your deductible, the price of the plan will decrease since you will pay more out-of-pocket when you need to use the plan.
- Copay - For US citizens, you may already be familiar with this term. Copay is usually a smaller amount that you pay to the doctor or other specified service that is paid upon treatment. This is also paid to your provider and is usually in place of the deductible. There is usually no limit on the number of copays.
- Coinsurance - Many international plans have a coinsurance component, in addition to the deductible. The coinsurance is a cost sharing measure where both the insured and insurance company pays a percentage of the cost. In many cases, you will find that this applies after the deductible and will most likely be 80% coverage up to a capped amount. Once you exceed this capped amount, the plan typically covers 100% up to the policy maximum. Check your particular plan to see if there is a cost sharing provision.
By understanding your plan, you will avoid any hidden surprises. While you pay the premium to have an insurance plan, most plans also have some additional out of pocket expenses should you need to use your plan. If you have questions on our plans and how the out-of-pocket expenses work, please do not hesitate to contact us.
Tags: Insurance Out of Pocket Expenses, out of pocket expenses
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Friday, August 12th, 2011
Most international insurance plans include repatriation benefits in case you need to be transported to another facility in case of an emergency or death. The most common evacuation benefit is emergency medical evacuation and repatriation of remains:
- Emergency medical evacuation is typically included as a benefit in an international travel and health insurance plan. Emergency medical evacuation is designed to transport you to another facility in case you cannot seek emergency treatment locally. For example, your doctor may say that it is medically necessary for you to be transported to a neighboring country – or in severe cases, your home country – where they have the equipment and know-how to treat your condition. Most plans cover you to the nearest facility to handle care which is typically based on the doctor’s recommendations.
- Repatriation of remains is used only in the case of death where the body is transported back to the member’s home country. While each policy will specifically define what is covered, typically this benefits covers preparation of remains to be transported, including air and/or ground transportation back to the principal residence.
Many governments that require you to purchase insurance upon arrival typically specify that both repatriation of remains and emergency medical evacuation must be included in the covered benefits. This is generally because, if necessary, these benefits can be expensive as emergency air or ground transportation can add up to thousands of dollars. By having an insurance plan that covers this, you can rest assured that you have the coverage you need!
To do this, there are different types of insurance plans that you can purchase that include these benefits. We offer stand-alone policies which cover emergency medical evacuation and repatriation of remains. This is well suited for those individuals who already have medical coverage in place but may not have these benefits already included in the plan.
If there is no policy currently in place, you can buy an international travel insurance plan that includes comprehensive coverage with emergency medical evacuation and repatriation of remains. This is well designed for individuals seeking short-term coverage of three years or less outside your home country. If you are looking for a comprehensive international health insurance plan that can be annually renewed, you will find that every plan includes this standard or as an option within the policy.
If you have additional questions about these benefits, we have licensed insurance agents ready to answer any questions you have.
Tags: Emergency medical evacuation, Evacuation, Repatriation of remains
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Thursday, July 28th, 2011
Insurance can be a difficult topic to understand. Trying to decipher the jargon and what it means for your health can sometimes be a difficult challenge. That is why we are going to begin our discussion on insurance terminology. This will be a series of blog posts that will help keep you informed about insurance terms which you can view under our Expatriate Insurance Terminology category.
So, let’s get started!
Coverage Maximum is the first benefit that we are going to discuss. Most international insurance plans have a lifetime maximum, condition maximum, or annual maximum that will be listed under your plan benefits. Here is a breakdown on how each maximum works:
- Lifetime maximum – This is the maximum amount a plan will cover for each insured over the lifetime of the policy. Once the lifetime maximum has been paid, there are no more benefits covered under the policy. So, to give you an example, let’s say your plan has a $5 million lifetime maximum. In the first year, if you have $1 million in paid claims. In this case, the policy will only pay $4 million for eligible expenses for the remaining life of the policy. Once you meet the lifetime maximum, no further expenses are covered and you may need to seek a new insurance plan.
- Condition maximum – Sometimes referred to as a “per injury or illness maximum”, the condition maximum is the total amount the plan will pay per condition. As an example, let’s say you have a $100,000 per injury or illness coverage maximum on your plan. If you have an injury which requires hospitalization, physical therapy, and regular doctor follow-ups, the maximum amount the plan will cover for all of these related expenses is $100,000. If you have a new unrelated illness or injury, you would be entitled to coverage up to $100,000 for that condition.
- Annual maximum – Some policies have a maximum coverage that resets ever year at renewal. To give you an example, let’s say you have a medical emergency that costs $2 million but your plan has a $1.5 million annual maximum. The plan will only cover $1.5 million for that certificate period year. If the $2 million is incurred in the same policy year, then you will pay the remaining $500,000. At the renewal of your plan at the end of the year, the plan will again offer $1.5 million in coverage.
Why is this important? Every insurance plan works differently – a difference in terms can determine how much will be covered for your claims. Sometimes, when dealing with coverage maximums, you will notice that your plan may have a lifetime maximum and a condition maximum. This means that each condition will be covered up until a capped amount, but all conditions will be covered up to the lifetime maximum.
If you have any questions on how the coverage maximum works, or if you have an example that you need clarification on, please let us know as we are more than happy to help!
Tags: Annual maximum, Condition maximum, Coverage Maximum, Lifetime maximum, per injury or illness maximum
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