Keeping a lid on international private medical insurance costs
Sponsored by APRIL International UK
15 July, 2013
Surveys regularly show a stubbornly high percentage of expatriates go abroad to live and work without taking any international private health insurance cover with them. APRIL International UK's own data in this area suggest around 48% of UK expatriates living and working overseas might not have suitable cover either for themselves or their families. Insurance companies are therefore constantly under pressure to find new ways to limit price rises or add extra cover at no cost to help hard pressed expats out. One recent example of this approach is APRIL International UK's decision to add extra value in the areas of maternity and new-born care, removing all co-insurance costs.
For a 30 year old male moving to work in the Middle or Far East, a good quality international private health policy offering protection in areas such as ambulance services, hospital cover and evacuation, a typical premium could be nearly £1300. APRIL International UK offers an excess or co-insurances option, allowing customers to buy cover with up to 50% off the cost of premiums. In practice this means a 30 year old man can reduce his premium by nearly £300, if he decides a £1000 excess is right, for those who are confident about their health and happy to take on more risk, by agreeing to pay the first £5000 of any claim, the premium falls to £830. By mixing and matching and choosing an excess that suits their own lifestyle and circumstances, expatriates can still secure protection against potentially high cost claims such as long term illness, evacuations, major operations, complications etc., but from a day to day perspective in areas such as GP or dental costs, the policy holder is effectively self-insuring to save on costs.
APRIL International UK believes this gives clients the best of both worlds, managing director Debbie Purser said, "We are constantly looking at ways to keep costs down for clients, whilst at the same time retaining top quality options on cover, should the need arise. Our voluntary excess structure can give policyholders up to 50% discount on their premiums, which in real terms can bring the cost of a typical policy for a 30 year old single male to £638, if the maximum excess is chosen, with cover still included for major events such as inpatient stays, cancer treatment costs and medical evacuation."
Highlighting other opportunities to save on international healthcare insurance costs, Purser adds, "It may seem obvious, but single men living and working abroad will not need maternity cover. As complex births can be very costly in medical terms, this offers a real opportunity to save money by choosing a cover that excluded this benefit, for example our International Plus plan."
Young, healthy clients can also look to exploit their advantages in other ways, adds Purser, with many unlikely to need outpatient cover, or prepared to pay simple outpatient bills themselves. Most basic plans will offer good coverage for the emergencies, such as inpatient costs, daycare procedures and major diagnostic tests like MRIs and CT Scans and cancer treatment.
APRIL International UK offers four different levels of cover across two geographical options, worldwide and worldwide excluding the USA, Canada and the Caribbean. Polices cover a wide range of potential complaints from GP and dentistry visits through to emergency hospital care and evacuation for the most serious cases. APRIL International UK is well known as one of the few insurers whose policies cover in full the cost of chronic care treatment. The company also covers workers in some of the world's more difficult areas such as warzones and post conflict reconstruction areas.
For details of APRIL International UK's International health insurance plans visit http://en.april-international.com/united-kingdom
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