The most common reason for bankruptcy is excess medical costs. This is how international travel medical insurance could protect you from financial ruin.
You’re packing for your big trip away with everything laid neatly on the bed, ready to pack. How exciting that you are finally having that well needed holiday!
Let’s quickly run through the checklist:
- Clothes: check!
- Sunscreen: check!
- Sunglasses: check!
- Flip-flops: check!
- Passports, tickets, travel itinerary: Check! Check! Check!
Did you know that most health insurance plans will not cover you outside your home country?
You may think you have considered all the possibilities. But, there is always the chance that something could go wrong and your health may be at risk.
Medical treatment in a foreign country can be costly and complex for travellers. While some countries do have reciprocating health agreements, that isn’t always the case. Even when they do exist, quality of care is an issue. So finding the right facility is vital and may incur extra cost.
For example, daily hospital costs in France can charge around €750-€2500 ( $850-$2825).
In India, the cost of a minor operation, such as an appendectomy, can land around $1250.
In South America, costs are significantly cheaper than countries in the USA, EU, or Australia. However, 24-hour hospital care in Argentina starts at about $500 per day.
That is for standard care. For medical evacuation, you could realistically see a bill for upwards of $10K-$50K. Some air evac services charge up to $1000 per mile!
With so many variables affecting potentially life-saving medical care, it’s unwise to take the risk that your average domestic health insurance will not be valid while abroad. Always check with your insurance advisor to see exactly what in your policy includes.
If your plan doesn’t include comprehensive international medical coverage, shop our options here.