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Travel medical insurance is a health care policy that covers you if you’re traveling abroad and you unexpectedly go to the hospital because of a medical condition, injury or sickness.
Money expert Clark Howard, who once owned a successful travel agency, says that if you’re going on a whirlwind vacation to another country, travel medical insurance is essential.
In this article, we’re going to cover what you need to know about travel medical insurance, including when you should buy it and what it will likely cost.
“The thing with international travel — which almost nobody knows until it’s a big problem — is that your health insurance usually doesn’t cover you outside the United States,” says Clark.
If your medical insurance does cover travel abroad, it likely comes with a sky-high deductible that makes the expenses pretty much untenable compared to other travel insurance plans.
That means that even though you may have great domestic health coverage here in the United States, you’ll need to pay extra to buy travel medical insurance so that you’ll have peace of mind if something happens internationally.
Medicare generally doesn’t cover you outside the United States, either. But there are rare instances where Medicare would cover you, according to Medicare.gov:
So that we have a clear understanding, let’s get into what’s involved with travel medical insurance:
In most cases, travel medical insurance will cover:
So to be clear, travel medical insurance covers a host of things related to emergency care. What a travel medical policy won’t generally cover are things involving routine medical care. For example:
Not all travel medical insurance plans cover a trip cancellation, a trip interruption and an emergency medical evacuation, although many of them do.
Let’s go in depth about the two things mentioned above that generally are covered by all travel medical policies:
The thing with international travel is that while you may enjoy the scenery, you can’t always count on the infrastructure that a particular place you’re visiting provides. In other words, the health care there may be substandard.
That’s why your policy should include what’s called emergency medical evacuation, or medevac.
“If you’re going to a Third World country,” Clark says, “you can use a medevac, where they’ll get you to a First World hospital.” No matter the transportation method, whether it’s via helicopter, ambulance or another EMS vehicle, it’s all covered by your travel medical insurance plan.
Your travel medical coverage may include other medical expenses as well. Say you’ve broken your ankle while hiking a mountain in the Andes. Once you’ve been taken to a hospital, some policies cover the cost of flying a loved one there to be by your side.
Many policies will also cover lost baggage and other personal effects, but this will generally be limited.
In the case of accidental death, many policies also provide assistance for the repatriation of mortal remains. Some plans also have options for rental car and flight insurance coverage as well.
How much travel medical insurance costs for you will depend on a number of factors, including the length of trip, your age, and the amount of coverage you want. According to WorldTrips, a week of coverage can cost anywhere from less than $5 to more than $100.
I looked into a seven-day trip to Ireland from the United States in the fall. The average cost I found for travel medical insurance for that trip was $65.
There are a number of companies that provide travel medical insurance. Clark recommends that travelers go to InsureMyTrip.com to compare prices and plans. The policies even come with reviews.
“The reason why I like InsureMytrip is that it’s like an aggregation service or comparison site and you can see all the different choices available,” he says.
Travel medical insurance is typically sold in the following four packages:
Before you purchase travel medical insurance coverage, familiarize yourself with any exclusions in your policy. Those could include:
Clark says that if there are exclusions, you’ll need to determine if pre-authorizations will be required for medical treatment in another country.
Now that you’re up to speed on travel medical insurance, here are five things to know about buying general travel insurance.
This post was last modified on May 17, 2022 9:45 am
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