What Travel Insurance Does and Does Not Cover

What Travel Insurance Does and Does Not Cover


So I wanted to do a quick article specifically on long-term travel health insurance for those that are digital nomads, just traveling the world for a long time or settling down in a place outside of their home country.

It's, also known as ex-pat insurance. Let's, be clear from the start. This video is pretty heavily focused on Americans since our health care system is uber, complex and probably the most expensive in terms of insurance.

If you're, not an American, I definitely think you could still get something out of this video, but I won't blame you. If you decide to turn it off. If you're completely unfamiliar with health insurance or travel insurance check out my other two videos, I cover one all about the Affordable Care Act and quitting your job to travel or you know, work outside the United States and I have another video on Specifically, travel insurance, both short term and long term, as well as multi-trip insurance, but today.

Video is going to be specifically for those who need long term insurance and when I say long term, I'm talking about traveling for six months or more or multiple years. At a time for my last video, I made this handy spreadsheet that I'm, going to open up again and you're.

Welcome to make copies for your own personal use. You can go in and copy it from Google Drive. I show you how to my last video - and there is a link to it down in the description. What people refer to as travel insurance is actually two different types of insurance.

There's, travel insurance, which covers things like lost luggage, delays, cancellations, all those sorts of things, and then there's, your medical insurance, which is like typical medical insurance. I talked more about the differences in my other videos.

So take a look at those when you're traveling, full time. Travel insurance is really not the concern it's, not as big of a deal. If you get delayed a full day, it's, not gonna ruin. Your whole trip, since you're traveling for a whole year, so you don & # 39.

T really needs recovery for a lost day and a lot of times you're only traveling once a month or maybe not at all. So having a baggage loss is not something you need to be covered, but maybe it is, and in some cases, you can get both the travel and the medical.

So we'll. Take a closer look at the spreadsheet to see what exactly would be right for you. In most cases, what you need is an ex-pat is travel medical insurance. The bad news is, this is more expensive than just regular travel, insurance for delays and baggage, and things like that.

The good news is, it does cover actual medical and dental expenses, as opposed to just emergencies, and it is less expensive than healthcare in the United States. That's right. If you're traveling abroad, you can get comparable health insurance to what we get here in the United States and it actually costs less because you're, not living here in u.

There is one catch, however, that I talked about in full detail in my healthcare video, but that is that you need to be outside the United States for at least 330 days a year or you & # 39. Ll also need health insurance here in the US.

Expat or long-term medical insurance does not cover the Affordable Care Act, so it's not considered credible coverage, and you'd, actually have to have additional insurance here in the US. But if you will be outside the United States for 330 or more days of the year, then you do not need to have ACA, credible coverage, and remember it's up to you, whether or not you want to have ACA credible coverage.

You'll just have to pay a penalty on your taxes. If you don't most of the medical insurance options that I'll show you do cover you when you come home to visit the United States. If you're just worried about having insurance, you should be all set.

If you have medical insurance, however, if you just get regular travel insurance that just covers emergencies, sometimes it doesn't cover you. If you're within a hundred miles of your home or in your home country period in my spreadsheet here, I reviewed a few different options.

Since the last video I've, divided it into three sections here at the bottom. I'm, focusing on the long-term medical tab. Basically, this is insurance. You can get for 365 days at a time and it can be renewed in some instances the plans are only paid annually and in others, you can get them for just a certain amount of months.

In order to make accurate comparisons. I tried to put all the pricing in as an annual price. The first half of this list consists of travel insurance companies that also offer a bit of medical coverage.

You can tell because, as you scroll over, you & # 39, ll see yeses under a lot of the travel options. Things like an interruption, cancellation, delays, and baggage, and sometimes also you'll, find identity, theft, or rental car coverage.

If you're relatively healthy and plan to frequently rent cars, one of these options may be, for you also keep in mind the reviews of some of these companies. For example, I have heard that making a claim with world nomads is extremely difficult and frustrating.

However, you want to look into each of them yourself if you want or need medical insurance, that's, comparable to what you've had in the United States, you'll need to scroll and look at something like geo blue Travel or Cigna global, these have benefits like regular doctor and dental visits.

Where many of the travel insurance companies, above only cover emergencies, you can hover over cells with the black marker to see notes I've made. I recommend visiting the websites linked here and calling the numbers I've, provided yourself to confirm everything you see when you see blank cells, it means I'm, not sure if they offer this benefit.

The dashed lines mean they do not offer the benefit. I tried to call most of these companies directly. However, some of the reps didn't really seem to understand their own insurance benefits. Not a great sign, and some like Triple-A I haven't had a chance to call an additional criterion.

I haven't mentioned it. Is your destination if you & # 39, ll be living or traveling in a second or third world country insurance may be more expensive or not available from some carriers. Be sure you let them know where you'll, be going before you sign up.

Personally, I've decided to go with Cigna global. Their reps are the most knowledgeable of those I've called and because there are medical insurance companies, they have an extremely large network of hospitals and doctors worldwide, many of which will bill Cigna directly.

So I won & # 39. T have to worry about claims. They've just recommended calling before any visit. If it's, not an emergency, obviously, so they can confirm if the doctor is in-network. Technically, with this insurance, you can go to any doctor, and the costs are the same in this case being in-network just means that Cigna has a relationship with the doctor and will build them directly instead of me.

Additionally, Cigna does cover you for 45 days before you leave for your trip and up to 180 days back in the United States. At any point, during the year you're gone. This video was in no way sponsored by Cigna or any other insurance company.

So all this information provided was done with my own research and without any particular bias to a particular company. You'll notice. The companies that are primarily medical insurance have quite a large rate range between the different options, and this is because you can have different deductibles different max amount covered different cost-sharing.

It works very similarly to regular medical insurance. So again it's. A lot more confusing than others, but the coverage is a lot greater. For example, evacuations Cigna will pay the entire thing in full, no matter what it's for, whereas you'll see some other coverages up to a million.

If we look at something like a lion's, travel, it's. Only up to 250,000, we're. All nomads is a bit more offensive, so it covers 300,000 or 500,000. Depending on your plan. Again, the plans and benefits from a travel insurance based company are going to be less expensive and more straightforward.

However, the medical benefits are going to be more comprehensive and allow you to make regular doctor visits have prescription coverage, and things like that, if you go with a medical insurance company.

Another thing to point out, as I mentioned in my other video, is that there are alcohol exclusions with a lot of travel insurance companies. So if the medical problem that you have is due to drinking too much or drug abuse, or something like that, you will not be covered with travel insurance.

Medical insurance doesn't have these types of exclusions. Typically, so you'll notice. If you come down here, you don't have to worry about that now, the Schengen region, if you're looking for a Schengen visa, most of these will actually allow you to get a Schengen visa.

You'll want to just make sure you get the right amount of coverage. So I put in here a little note here about what you need for Schengen visa coverage. Even if you don't require a Schengen visa which US citizens do not actually require the visa.

Some countries do still want you to have insurance coverage, so I'd, recommend making sure you have some sort of insurance coverage when you travel around Europe. If you have questions or want more details on any particular area or need clarification, first check out the other travel insurance, a video that I did, but also, please feel free to comment below, and I will get back to you as soon as I can again.

These are just some of the options you may want to look into when you're, looking at travel and medical insurance, make sure you do your research and you can start with some of the options that I listed on this spreadsheet.

If you have other options that you've looked into that, you think would be better. Please go ahead and comment in the description below and I will add them into the spreadsheet, for others to take a look at thanks for joining me.

Please comment like subscribe to the channel if you're interested in more information about travel and business lessons or following along on my journey as I travel across Europe starting in January of 2018, thanks for joining me, and stay tuned.

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