By Erin Bendig
in Features
The essential item you shouldn’t leave home without is travel medical insurance, especially if you’re planning to travel this year. Whether you’re heading to one of the most affordable destinations or exploring distant lands, preparation is key. Although vacations are meant for fun and relaxation, unexpected incidents can happen at any time.
For this reason, relying on travel insurance is crucial, and specifically, travel medical insurance is something every traveler should consider.
What is Travel Medical Insurance?
Travel medical insurance is designed to assist you with emergency medical expenses that may occur during your travels. These expenses may arise from illnesses or injuries requiring hospitalization. Notably, most U.S. health insurance policies offer minimal or no coverage outside the country, and Medicare does not provide international coverage either.
Coverage Provided by Travel Medical Insurance
Travel medical insurance typically includes the following:
- Emergency medical expenses: ambulance service, doctor and hospital bills, X-rays, etc.
- Medical evacuation
- Prescription medications
- 24-hour assistance services
- Accidental death and dismemberment
However, it’s important to note that this insurance does not cover expenses related to routine medical exams, elective care, extreme sports injuries, or intoxication. Pre-existing conditions are usually not included unless you qualify for a pre-existing medical condition exclusion waiver.
Types of Travel Medical Insurance Policies
When selecting a travel medical insurance policy, you have several types to choose from:
- Single-trip coverage: Provides coverage for one specific trip, from departure to return.
- Multi-trip coverage: Also known as annual trip insurance; covers multiple trips within a calendar year, provided each does not exceed a certain duration.
- Primary coverage: The travel medical insurance pays out before any other health insurance you have.
- Secondary coverage: Claims must be filed with your existing health insurance first, and the travel insurance will cover remaining costs if domestic insurance doesn’t suffice.
When Should You Purchase Travel Medical Insurance?
Research indicates that approximately one in four travelers may encounter medical issues requiring attention while abroad. As a result, it’s wise to obtain travel medical insurance if you’re planning to travel outside the U.S., even if you’re in good health. This protection ensures you won’t be burdened with unexpected out-of-pocket medical expenses due to accidents or emergencies since most U.S. health plans lack foreign coverage.
Moreover, opting for a comprehensive health insurance policy could provide additional benefits like trip cancellation, lost luggage, and trip delay coverage, although it may come at a higher cost. Many travel rewards credit cards also offer similar benefits, making them a useful consideration for travelers.
Who Should Get Travel Medical Insurance?
United Healthcare advises that all travelers should consider travel medical insurance, particularly:
- Families with children
- Anyone visiting a country with a language barrier
- Individuals with chronic conditions
- Solo travelers
- Travelers heading to remote locations
Cost of Travel Medical Insurance
The cost of travel medical insurance varies based on multiple factors, including the destination, your age, deductible amounts, and coverage needs. Additionally, costs will differ depending on whether you need individual coverage or coverage for accompanying family members.
On average, policies range from $40 to $80, but higher coverage limits and longer durations often lead to increased costs. According to various sources, the average price for a comprehensive travel medical insurance policy can reach approximately $97.
Final Thoughts
Traveling can be an enriching experience, but it’s vital to protect yourself from unexpected medical expenses. Travel medical insurance offers peace of mind, ensuring that you are financially safeguarded during your adventures.
