Travel Medical Insurance: Here’s What You Need to Know

The real "don't leave home without it" item might just be travel medical insurance if you plan on traveling sometime this year. Maybe you are finally flying abroad to one of the cheapest countries to visit — preparation is important. While vacation is supposed to be a time of fun and relaxation, accidents can occur.

For this reason, it’s better to be safe than sorry, and that means considering your options for travel insurance.

What is travel medical insurance? 

Travel medical insurance can help you pay for emergency medical expenses that arise when you’re on a trip, such as if you become ill or experience an injury and need to go to the hospital. Even if you have a U.S. health insurance plan, most provide little or no coverage abroad. Medicare does not provide coverage abroad either.  

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Here’s what travel medical insurance covers:  

• Emergency medical expenses: ambulance service, doctor and hospital bills, X-rays, etc.
• Medical evacuation
• Prescription medications
• 24-hour assistance services
• Accidental death and dismemberment

Travel medical insurance does not cover expenses incurred as a result of routine medical exams, elective care, extreme sport injuries or intoxication.

Typically, pre-existing conditions are also not covered, unless you qualify for a pre-existing medical condition exclusion waiver. 

You can choose from a number of policy types when deciding on a travel medical insurance policy. 

Single-trip coverage: As the name suggests, a single-trip insurance policy provides coverage for a single trip, from the time you leave, to the time you return.

Multi-trip coverage: Also called annual trip insurance, multi-trip coverage covers all trips in a calendar year, as long as each trip does not exceed a certain number of days.

Primary coverage: Your travel medical insurance will pay out before any other health insurance you have. 

Secondary coverage:  Claims are first filed with your existing health insurance provider. If your U.S. health plan doesn’t provide coverage overseas or cannot cover all expenses, then you will file a claim with your travel insurance company.

When should you get travel medical insurance?

Approximately one in four people have had medical issues while traveling abroad that required care, according to a survey from GeoBlue. At the same time, the study found that 76% of consumers either don't know how they would pay for medical treatment abroad or likely won't have adequate coverage, and 46% expect to use their existing domestic health insurance plan.

If you intend on traveling outside of the U.S. it’s a good idea to purchase some form of travel medical insurance, even if you're in good health. This way, you’re not stuck paying medical costs up-front in the case of an accident or emergency, since most U.S. health insurance policies don’t provide coverage abroad. 

You may also consider opting for a comprehensive health insurance policy, which also offers trip cancellation, lost luggage and trip delay coverage, but it will cost more.

Many of these benefits also come with premium travel credit cards as well. Check out our article on credit cards with travel insurance to learn more.

United Healthcare recommends travel medical insurance for all travelers, particularly:

• Families with children
• Anyone visiting a country that speaks a different language
• People with chronic conditions
• Solo travelers
• Travelers to a remote location

How much does travel medical insurance cost?

Travel medical insurance costs depend on several factors, including the country you're visiting, how old you are, deductible amounts and how much coverage you'll need. 

How much you pay also depends on whether or not you're opting for individual coverage or need coverage for family members traveling with you, such as your spouse or kids.

Policies average between $40 and $80, according to Travelers.com, but higher coverage limits and longer coverage terms typically increase the cost of the policy.

The average price for a stand-alone travel medical insurance policy is a bit higher than this estimate, at $97, according to SquareMouth Travel Insurance.

The bottom line

When planning a trip, travel medical insurance can provide valuable peace of mind, covering unexpected medical expenses that your regular health insurance may not.

Before purchasing, carefully review the policy details, including coverage limits, exclusions and whether pre-existing conditions are covered. With the right preparation, you can explore the world confidently, knowing you're protected if the unexpected happens.

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