Visitor Medical Insurance Plan Features | Insurance

By CRaj
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Visitor health insurance plans come in all shapes and sizes. There isn't a one size fits all plan that will work universally. It is important that one understands all the different components of a visitor medical insurance plan so that a fair comparison can be made between them.

These are some important features of visitor medical insurance plans that are different for each plan. Make sure you understand them before you purchase a plan.

1. Comprehensive plans and Fixed Benefit plans: There is a big difference in how the benefits are paid between both these plans. The prices also vary widely. Fixed benefit plans guarantee a certain amount for each eligible expense. This amount may not cover the actual expense. The insured will pay the difference between the amount paid by the insurance and the actual expense. Comprehensive plans have less uncertainty built into them. They provide coverage up to the maximum plan limit for covered expenses. Apart from the usual deductible and co insurance the insured will not have to pay anything extra.

2. Pre existing condition coverage: Usually visitor medical plans will not cover any pre existing conditions. It is a good idea to always find out how pre existing conditions are defined by the insurance providers. Some have very strict definitions and will routinely deny any claims arising out of conditions that they feel were present undiagnosed well before the start of the plan even if the person was never treated for the condition. Some others will only deny claims for conditions that the insured was aware of and received treatment.

3. Claims office and insurance provider location: It is advisable to purchase a plan that has a claims office in the country you are visiting. The reason is that some Doctors/hospitals may be reluctant to acknowledge overseas insurance coverage. The medical office can easily contact a local insurance company for clarification, while the same will not be true for an overseas insurance company. In the US for example medical offices will bill known American insurance companies directly. For overseas insurance companies you most probably will have to pay the bill, and then try to get the claim reimbursed from the insurance company.

4. Strength of the Underwriter: A measure of the financial strength of the Underwriter is important to gauge its ability to pay claims. Compare the A.M Best rating for each plan. Select a plan that has a rating of A or above.

5. Physicians and hospital network: Always make sure if the plan you are considering has restrictions on where you can use it. To get the most benefits you may have to visit doctors with a network. Search the network to see if your city has a wide coverage. Plans with networks have a higher chance of direct billing. If you want full freedom in selecting a physician you can purchase a plan that does not have a network or one that does not penalize you if you utilize services outside their network.

6. Co insurance: It defines the split of expenses between the insurance company and the insured. If the percentage the insured person pays is higher, the plan premium is lower. For example if the plan has a 70/30 co insurance rate, the insured pays 30% of the eligible expenses and 70% is paid by the insurance company. There can sometimes be a cap on the co-insurance. Beyond that amount eligible expenses can be covered 100%.

7. More benefits: Medical insurance may be the only benefit offered by 1 plan and another may offer a package of benefits. You must decide if you want to pay extra for the additional benefits like accidental death, evacuation, lost luggage etc. Compare plans that offer similar benefits.

Comparison of plans cannot be done based on premium alone. There are many factors that influence the price of each plan. Make sure you discuss these with your insurance professional to get the best plan.

About the Author

Author C. Nataraj is a travel insurance agent. Nataraj specializes in visitor health insurance topics and he provides free tips on visitor medical insurance.

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