In my last post, I discussed the importance of obtaining additional medical insurance while travelling abroad. In Ontario, we are not adequately covered for our medical expenses incurred while in the U.S. or other countries. OHIP only covers the first $400.00 of medical expenses, and that does not include ambulance, prescriptions or auxiliary expenses.
Here are the key points to think about when getting medical insurance for outside of Canada.
- Where to find a policy: you should call an insurance specialist to guide you toward the best policy to match your needs.
- What to look for in a policy: Unlike car insurance, private health insurance can vary widely in both costs and policy specifics.
- Deductible: A typical deductible can range from $100.00 to $500.00. Avoid policies with “per claim” deductibles, which would charge you every time you visit a doctor. Instead opt out for a “per policy” deductible.
- Amount of Coverage: Most policies are available in a variety of coverage amounts; $1-Million, $3-Million and $5-Million, however differences in premiums can be relatively small.
- Single Trip or Annual Coverage: If you travel a lot, you might want to consider Annual Coverage.
- Exclusions of Pre-Existing Conditions: This is the tricky part. Since many snowbirds are likely older, they may have pre-existing conditions for which the insurer will not pay. Most private policies exclude undisclosed pre-existing medical conditions, or require a pre-existing condition to be stable. Remember – being honest with your insurer will result in the best coverage.
- High Risk Activities: If you are the active adventurous type, you will need to know exactly what type of activities you can and cannot do, that might affect your policy coverage.
All those terrible stories about the cost of health care in the U.S. or other countries are TRUE – protect yourself and your family with the proper Medical Health Insurance coverage while travelling out of country.
If you require medical insurance while travelling abroad – call me – I can help.