‘Global’, ‘worldwide’, and ‘expatriate’ are just three of the terms you might see used in conjunction with health insurance. But what do they mean in practice? Knowing where to begin can be unclear to anyone starting on their journey to find a suitable policy, especially with so many differently-named services. Here, we’ll provide the lowdown on global health insurance and cut through the confusion so you can shop for a deal confidently.
● What is the Meaning of Global Coverage in Health Insurance?
● Do I Need Global Health Insurance?
● What Does Global Health Insurance Cover?
What is the Meaning of Global Coverage in Health Insurance?
‘Global coverage’ is usually intended for those working abroad for a specified period. It means you’ll be covered for all health costs should you fall ill whilst overseas. It’s important to note that – whilst you’ll likely be covered worldwide – expenses may differ from country to country.
You’ll usually see upper limits on healthcare claims within in the US and Canada. In comparison to claim limits made elsewhere. This is down to the high prices of healthcare in these countries. Many suppliers of such a policy will omit the ‘global’ part from their service title – even though the coverage is worldwide.
Do I Need Global Health Insurance?
Whether you need a global health policy will depend wholly on your personal circumstances.
To give an example, Person A works in their home country and will only travel once a year for a fortnight’s holiday. They’ll likely need to consider a basic health insurance policy if they’re young, fit, and healthy. With an additional travel policy for whilst they’re away. And if they live in one of the 72 countries offering statutory healthcare, they may be able to do without a health-related policy entirely.
Compare this to Person B, who spends eight months of the year in their home country and four months working away in various international destinations. A global policy would greatly benefit them should they fall ill, no matter where they are.
Our health insurance policies at GasanMamo don’t carry the ‘global’ moniker, but they are truly global in practice. Our most basic health insurance policy is called the Vital Plan, offering limited healthcare cover for both in-patient and day-patient treatment in all international destinations except the US and Canada. Treatment in the US is so expensive that nearly 9% of Americans didn’t visit a doctor in 2021 because of the cost. This is reflected in the coverage limits available in North America.
However, those working in either of those two countries can benefit from our International Health Insurance Plan. This includes US and Canadian coverage up to a maximum of €50,000 and even covers repatriation costs back to Malta.
What Does Global Health Insurance Cover?
Global health insurance coverage levels will differ from one provider to the next. But if you’re shopping around at present, such a policy will likely include some or all of the following:
● Sufficient coverage for unanticipated health issues.
● Repatriation to your home country if required.
● Prescription costs for any pre-existing conditions.
● Potential to cover a partner, dependents, and relatives.
Given that no two lives are exactly the same, ensuring your policy covers your specific needs is vital. If there’s anything you’re unsure of within the small print, ask a representative to explain. And don’t agree to anything until you’re well aware of your rights.
For a more in-depth look at levels of coverage, read our article on What Does Health Insurance Cover?
What Is Expatriate Health Insurance?
‘Expatriate health insurance’ is generally intended for those working abroad for a set time. Its name may be used interchangeably with other policies. Some providers may offer a package called global health insurance or even health insurance. The health care cover may be the same or similar to the ‘expatriate’ kind, even though the names differ.
Does Health Insurance Cover You While You’re Overseas?
This all depends on which provider you agree to a deal with, but health insurance will generally cover you overseas. You’ll need to check the finer points of any insurance deal to check which countries are covered and the level of compensation you’re entitled to.
Do You Need Travel Insurance For Working Abroad?
Although policies differ, travel insurance generally covers your health whilst you’re away. This is as well as flight cancellations and theft of personal belongings. In short, it’s designed for those going on holiday for a week or two rather than those contracted abroad for a lengthy period. Anyone working abroad will likely be able to meet their needs through a health insurance package, many of which include global coverage.
It’s easy to get confused when shopping for the best deal With so many different names in the health insurance world. Global health insurance may be alternately named as ‘international’, ‘expatriate’, or ‘worldwide’. Or alternatively, even just plain old ‘health insurance’, you may find very similar services underneath the moniker.
Take a thorough look through the details rather than the names themselves, and you’ll be sure to find the right deal for your own particular circumstances.
Begin your own search for the right plan by looking through our clear and transparent benefits on our health insurance page.
GasanMamo Insurance is authorised under the Insurance Business Act and regulated by the MFSA.