Medical costs around the world are skyrocketing, due mostly to the advances in specialized equipment and the cost of advanced medicines and training specialists in various fields. An international traveler, expatriate or businessman needs to be very careful about the medical costs that he may be faced with.
There are international medical insurance schemes available with a range of costs and benefits, and with different conditions available through many insurance companies. The technique is to first assess the requirements, the risks involved, the costs and various options available, and then make a happy compromise. This obviously involves taking some risks, but people who are willing to do this are rewarded quite handsomely, as the cost of insurance also becomes cheaper.
There are group insurance plans that are relatively cheap, and if you are with a tourist group or a visiting business delegation you would save money with group medical insurance. Excluding a medical condition that is pre-existing can lower your insurance costs. But you must be sure that the condition will not worsen and cost you heavily.
Another way of lowering costs is to agree to pay a small initial medical cost and make a claim from the insurance company only when the amount exceeds that amount. For example, you may agree to pay the first 200 dollars of medical expenses and make a claim only when the cost of treatment goes above that amount.
Most international insurance companies cost less than American companies, because their overhead is low and the cost of health care is much lower in other countries than in United States. Schemes like ‘Inbound USA’ meet American visa requirements for temporary visits to the USA at an affordable cost.
Whatever compromise you choose to make between risks and costs, shop around not only for cheap insurance plans, but also for a reputed company that gives you total information, has transparent functioning and does not evade your questions.