Expats have a gaping black hole in private medical cover offered by employers that only comes to light if they have to give up their assignment.
Comprehensive private health insurance is a perk offered by most overseas employers as a benefit to lure the best expat workers.
The policies come with promises of the best health care – but only a check of the small print reveals that the cover only lasts while the expat remains an employee.
As soon as the assignment ends, so does the employer’s responsibility to offer medical insurance.
For someone contracting a serious illness or involved in an accident that leaves the unable to work for the long-term, this can be a disaster.
Top up to avoid financial disaster
That’s why many expats pay extra to top-up their private medical cover.
If an expat cannot work, they cannot earn and can end up in serious financial trouble.
For instance, in some countries, expats are forbidden to leave for home until their debts are settled – including credit cards and other borrowings.
They may also require expensive follow-up care or out-patient treatment that is unaffordable once income stops flowing in.
Employer private health care policies may only offer in-country cover and the medical facilities available in some African or Asian countries may leave a lot to be desired for coping with some illnesses and conditions.
In these cases, it is not unusual for repatriation to the UK or for medical evacuation to better hospitals in neighbouring countries.
What to watch for
Medivac is expensive with patients often racking up bills of tens of thousands of pounds.
Private health costs vary according to personal medical history and the country where an expat lives.
The most expensive cover is in the US and Canada and is often cheaper the further an expat moves east and south.
Shop around and compare policies. Many brokers ‘badge’ policies offered by other companies and going direct can be cheaper.
Check out terms and conditions about cover triggers, exceptions and exclusions, age limits, costs and charges, where they apply if you are a constant traveller and how long they last.
Often, expats only realise they have inadequate private medical cover when they come to make a claim.
