Is health insurance or travel insurance better for working in another country for one year?

By Casey Pratt On Jul 13, 2019

If you are planning to travel abroad, you might be thinking whether a travel insurance or health insurance can suit your needs. Here, you will come to know about the advantages and differences of the coverage that both these kinds of schemes offer. Certain benefits of travel insurance are the same as health insurance. However, the benefits are not the same and you need to get the plan customized according to your needs.

A health insurance will cover the cost of emergency medical treatment, regular medical care and other expenses related to medicine. The reputed insurance companies have a good network of hospitals. However, when you are traveling abroad, you are susceptible to dangers that a medical insurance policy cannot cover. In these cases, you need international travel insurance coverage. In case you are willing to buy one of these policies, get across to a reputed insurer and buy a package that comes within your budget.

Choosing between a health insurance and travel insurance

The difference between travel insurance and health insurance often confuses travelers. Both these schemes are developed for people traveling abroad. However, the coverage you enjoy with each plan is also different. It is important for you to know the differences, as failure to understand the difference may leave you in a bad situation.

International health insurance schemes are designed, so that people traveling abroad get a comprehensive coverage for their health-related issues. However, you should remember that during an international tour, you may face various other unexpected expenditures, other than health. Considering these threats, most travelers opt for travel insurance that covers certain health-related aspects as well. If you are planning to spend some time abroad, it is recommended to buy a travel insurance policy, rather than simply going for a health insurance coverage.

What does a travel insurance cover?

Have a look at the expenses that you can get covered by a travel insurance. These policies are designed to cover trips for a limited duration. For people going for short-term trips and holidays abroad, a travel insurance coverage is highly recommended. These schemes offer coverages for the following:

Loss of luggage
Hotel, flight and train cancellations
Emergency medical treatment
Loss of personal goods
Lost or misplaced travel documents
Delay in departure
Personal liability

However, many people believe that they can enjoy an adequate coverage abroad, when they buy a standard travel insurance. You should also be aware of the limitations of these policies. Travel insurance, in terms of medical cover, is designed to provide emergency medical treatment on a short-term basis. This benefit can be availed only when you remain within the specified area. Travel insurance includes this benefit as they aim to get the person well enough, so that they can return home.

Therefore, an international travel insurance will not provide coverage for medical treatment that lasts for a long time. In case you need to undergo a long-term treatment, you should return home once you get better and seek medical facilities in your country.

What does a health insurance cover?

An international health insurance provides coverage for people working overseas for a prolonged time period. These schemes are designed to cover routine healthcare costs as well as emergency treatment. The expats can enjoy flexibility in terms of treatment facility and choice of doctors. They can avail treatment anywhere within the specified area that is covered.

Some people relocate from their countries and buy homes abroad. They can buy the international health insurance policies, that offer coverages in their home country as well as the country where they are presently residing. These schemes prove useful when you face a medical emergency in a place where you do not know the language or are not familiar with the healthcare system. Although the health insurance schemes designed by the reputed companies vary, they generally cover the following:

Routine check-ups
Hospital stays
Coverage for pre-existing conditions
Chronic conditions
Critical illnesses
Maternity care
Out-patient treatment
Repatriation

These plans are flexible and you can get them customized as per your requirements. If you are an expat, you might find it tempting to reduce the cost by relying on healthcare facilities available locally, when you are in a different country. However, in case of a medical emergency, these options may not prove to be adequate enough to meet your requirements. Besides, you may not be allowed to avail subsidized healthcare facilities, depending on your individual circumstances and the place where you move to. Therefore, you should weigh the available options and consider your budget, ensuring that you have adequate coverage to count on.

Buy a travel insurance policy

People planning an international trip for one year should buy a long-term travel insurance policy. Along with this, they should have a health insurance or mediclaim policy for domestic coverage. In case the person faces any medical emergency during travel, the travel insurance policy will cover the initial expenses. However, for long-term treatment, if needed, he or she will need the medical insurance policy. The logic is, travel insurance covers various other expenses like theft and cancellations when you travel abroad. Along with these, they offer emergency medical treatment coverage. Utilizing this coverage, the policyholder can improve his or her health by seeking treatment overseas initially, before traveling back to the home country. Now, the health insurance policy can be availed to seek the necessary treatment.

The long-term medical expenses may include the cost of prescription drugs, routine medical treatment and so on. Some companies have also come up with travel medical plans, that cover multiple trips, individual trips and long-term travel. For people who travel abroad for business trips frequently, a travel medical plan is the best option. Students and workers living abroad can also go for these policies.

If you are looking for an international travel insurance policy, get across to one of the reputed companies online. You can view the policies and get them customized, as per your needs. It is important to keep yourself financially secured against all sorts of unexpected expenses. Get adequate coverage to ensure an optimal security when you travel abroad.