Citizens who are from countries where individuals do not typically have health insurance or do not usually shop for their own private coverage might wonder what is health insurance when they relocate to a country where health insurance is needed.
Health insurance can be thought of as a safety net. Just as most individuals have a savings account or rainy day fund for life emergencies, a health insurance plan is a harness for your health. Medical expenses around the world can vary greatly, if visiting or relocating to a country where health care costs are high, health insurance can keep an individual from being drowned in debt.
However, not every health insurance plan is created equal. When shopping for health insurance you will want to review the benefits of each plan that is under consideration as well as the exclusions. This will give you good insight into what type of coverage the plan consists of. Do you want a plan that will cover mainly illness and injury or do you want one that also includes wellness? Decide on the benefits you want and make sure they are included in the plan you choose.
Also, a key consideration when it comes to purchasing health insurance is timing. If an individual waits until a condition that needs treatment occurs, they might not be able to find a plan that will provide them with the coverage they need or want. Insurance plans will often call these conditions “pre-existing conditions.” Although some plans exclude pre-existing conditions from being covered, there are also some that will still allow the individual to have coverage right away for that condition or after a waiting period. It is just as important to find out when to purchase health insurance as it is to discover what is health insurance.
If you would like more information on what is health insurance and how to find the best plan to meet your needs, please contact one of our licensed agents today.
*Medical Insurance photo courtesy of Shutterstock