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International Medical Insurance Systems Around The World
It is a well-known fact that healthcare systems vary across the world. It’s a good idea for a traveler going abroad to know how international health insurance works at the destination. This information is especially useful for short-term visitors who plan to reside at the destination for more than a month.
If you fall ill abroad, you will probably have to pay first, and then get reimbursed by your travel health insurance company. Check whether your company has cashless billing at the destination-it might. Most countries have a combined public-private system, although a few have a totally private system.
The U.S. healthcare system is mostly private-apart from two programs-Medicare and Medicaid. If you are visiting the United States, you must purchase international health insurance. The country’s healthcare system is a matter of passionate debate, because 16% of the GDP is spent on healthcare, and people feel the system is inadequate.
In contrast, the U.K. healthcare system is almost entirely funded by public insurance, with a few people (11% of the population) opting for extra private insurance for better coverage. Most people receive medical treatment for free, barring a few conditions-eye and dental treatment, for instance. international health insurance is a must for all international visitors.
The system of health insurance followed by France is social health insurance, and covers all residents. The system derives its funds from compulsory contributions by residents. Many residents buy additional private insurance. If you are planning to visit France, check whether you need a Schengen visa, and also whether your international health insurance policy meets prescribed standards.
The Singaporean dual healthcare system seems to be the toast of the world. While the country spends just 3.8% of its GDP on healthcare, it is one of the healthiest countries to live in. Because of the dual system, check what your international travel health insurance covers, and how to file a valid claim. In Singapore, most primary care is private and most hospital care is public.
Keep in mind that other countries might have their own systems that are different from, or a combination of, these. If you’re traveling to India, you’ll notice that public healthcare is free or heavily subsidized. However, the quality may not be adequate. Remember to understand the destination, and what your international health insurance policy covers and does not before departure.
For coverage abroad, there are a range of short-term and long-term international health insurance plans, underwritten by renowned companies such as Lloyd’s, Nationwide, and AIG.
Ray Sondeo often writes about international insurance.
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