Medical Insurance

sample7An expatriate is risking their health, their savings, their job, and the stability of their life abroad, including the welfare of their family, without international private medical insurance in place

Individual expatriates hoping to fund their own private health care should be warned that an expensive claim has the potential to wipe out all of their personal savings and leave them with substantial debt.

Expatriates are in danger of risking their health if they intend to rely on local health care facilities. If local health care facilities are sub-standard, they may receive inadequate treatment with no way of evacuating to more appropriate facilities elsewhere. This could also mean that an expatriate would take longer to recover and/or that they will develop complications. The longer they are away from work, the less likely they are to be able to draw a full salary or even return to their job.

Most expatriates travel frequently, and domestic insurance is unlikely to cover them outside their country of residence. They will need to return to their country of residence for treatment, which will incur cost and time implications. Domestic policies are limited to the private health facilities within their adopted country, with no means of requesting more appropriate treatment elsewhere.

For a company, providing health insurance cover would represent only a fraction of the company’s total spend on salaries. Without cover, employers will either have to meet expensive treatment costs themselves, face losing staff for extended periods of sickness, or run the risk of employees facing real financial hardship.

A company with 30 employees could provide private health care cover for each employee for just US$2.41 a day.

By ensuring that their workforce receive fast quality medical treatment to aid successful recovery and get them back to work quickly, companies are more likely to retain the high-calibre employees that their business needs to continually thrive and succeed.

MEDICAL COSTS AROUND ASIA:

  • Leukaemia in Singapore US$90,000
  • Road accident injuries in Taiwan US$50,000
  • Dengue fever in Indonesia US$30,000
  • Heart attack in Indonesia US$24,000
  • New Born in Vietnam US$22,000
  • Skin cancer in Sri Lanka US$22,000
  • H1N1 in Vietnam US$20,000
  • Cruciate Ligament in Vietnam US$18,000
  • Lung Nodule in Vietnam US$17,000