{"id":12822,"date":"2025-02-18T08:00:24","date_gmt":"2025-02-18T00:00:24","guid":{"rendered":"https:\/\/www.infinitysolutions.com\/?p=12822"},"modified":"2025-02-18T08:46:04","modified_gmt":"2025-02-18T00:46:04","slug":"medical-insurance-for-expats-are-you-making-these-two-common-mistakes","status":"publish","type":"post","link":"https:\/\/www.infinitysolutions.com\/medical\/medical-insurance-for-expats-are-you-making-these-two-common-mistakes\/","title":{"rendered":"Medical insurance for expats: Are you making these two common mistakes?"},"content":{"rendered":"

With over 20 years of experience providing financial services to expatriates in Asia, we\u2019ve seen firsthand how unexpected health events can derail even the most carefully planned future. Few things are more devastating than watching a lifetime of savings disappear at lightning speed. That\u2019s why protecting your wealth with a medical insurance policy suited to your needs is just as important as building it.<\/em><\/p>\n

Expatriate medical insurance <\/strong>\u00a0<\/strong><\/h2>\n

There are several weapons in the expatriate wealth protection<\/a> armoury but in this article, we take a closer look at medical insurance.<\/p>\n

Over the years, our consultants have unfortunately witnessed lives turned upside down and families blindsided by an unforeseen accident or illness. Financial plans that seemed rock solid can be derailed frighteningly fast in the face of costly medical treatment.<\/p>\n

This can happen even if medical insurance is in place. Too many people take out policies that don\u2019t meet their needs because they have made one of these common mistakes.<\/p>\n

Opting for the cheapest policy<\/strong><\/h3>\n

There are times when compromise makes sense and times when it doesn\u2019t. When it comes to health, we believe there\u2019s no room for compromise\u2014especially regarding medical insurance for expats in Asia. Without the safety net of state-funded healthcare that some may be accustomed to in their home country, securing reliable coverage is essential.<\/p>\n

It can be tempting to save a few dollars by going for the cheapest policy you can find but all too often, it is a false economy.<\/p>\n

Take the case of James, a 32-year-old British expat living in Cambodia. Young and in good health, he never visited the doctor and assumed that he would be fine with the cheapest health insurance plan available. It covered only basic outpatient visits and had a low annual coverage limit but James felt this would be sufficient for his needs.<\/p>\n

A year after his arrival, James was involved in a motorbike accident, suffering multiple fractures and requiring surgery. His medical bills, including emergency treatment, surgery, and post-operative care, totalled $25,000. However, his low-cost insurance policy had a cap of $10,000 for inpatient care, leaving him to cover the remaining $15,000 out of pocket.<\/p>\n

Choosing a local policy over an international one<\/strong><\/h3>\n

While it is true that a local health insurance policy will almost certainly be less expensive than an international one, it\u2019s not a good choice for most expatriates for the following reasons:<\/p>\n