June 2007
There are many individuals and professional sources identifying the need for people around the world to obtain quality health insurance, and in the case of expatriates, quality international health insurance.  However, while there are many resources dedicated to explaining, in great deal, the particulars of any health insurance plans, one area tends to leave many people confused and puzzled.

When obtaining an international health insurance plan, insurance companies will ask the applicant where they are currently geographically located, and what area of cover they would like.  In terms of the coverage are, there are generally only two choices; worldwide and worldwide excluding the USA.  However a question that seems to come up with increasing frequency is why, if I choose worldwide coverage, will the insurance company still ask me where I am located?  The answer is surprisingly simple.

Each country in the world will differ from every other in terms of the costs that are associated with its healthcare system and services.  So, from an insurance standpoint, it is important to know in which country a policyholder is located.  It is a reasonable assumption from the insurance company’s view that the country a policyholder lives in will be the country where they receive the majority of their treatment.

Understanding the rating that an insurer gives to various countries can help you understand why premiums for health insurance plans around the world can differ so greatly.  For example, many insurance companies will rate a country on a scale from 1 to 8.  Countries ranked 1 will have the highest cost associated with their medical services, while countries ranked 8 will be the least expensive.

It is important to understand that this ranking is not influenced by the quality of the treatment and service available in these countries, merely how expensive it is to receive the treatment.  The Netherlands, Norway, and Sweden, are all ranked 8 in terms of their medical costs.  This puts these countries in the same bracket as Angola, Eritrea, Ethiopia, and Mali, however the quality of treatment that is available in the Netherlands, for example, is much higher than the treatment available in Ethiopia. 

The most expensive medical costs in the world can be found in the United States of America, with both Hong Kong and Israel following a close second.  This is the reason why policies that have worldwide coverage will always be more expensive that plans that exclude North America or the USA, because those policies give you the option of receiving treatment anywhere.  So policyholders may potentially travel from a lost cost country to a high cost country to seek treatment.

Trying to bear the burden of the high costs of medical treatment can be stressful.  The price that a policyholder pays in terms of the insurance premium will be less, in the long run, that the price an individual pays for treatment in a country that has a high average cost associated with it’s medical services.  Admittedly, if an individual is a citizen of a country with a comprehensive national health service, then the overall cost of their medical treatment will not be expensive.  However, the world is growing smaller and people will rarely stay in the same location for an extended period of time, making the need for an international health insurance policy vital. 

Global health costs can be confusing and difficult to understand, with so many options available to expatriates around the world, it is important to know the risks that you may be taking by not having adequate protection.  Knowing what an international health insurance plan can provide you and your family is just the first step in acquiring the protection that you need, knowing where you are going and what your long term global goals are is the second. 

Looking at the average medical expenses and the rating that insurance companies associate with different countries can be surprising.  Very few countries can be found at either end of the scale while more nations will offer medical treatments and services at average costs.  As to what an average cost may be, that also differs dramatically from country to country, but will always be less expensive than the costs associated in the USA. 

If you want the freedom to travel the world without worrying about paying for medical expenses out of your own pocket, and without worrying about the costs associated with medical treatments in different countries, then an international health insurance plan with a worldwide area of cover is the best option.  That type of plan gives you the freedom and flexibility to receive treatment anywhere you may be, and anywhere you are going with out having to worry about being outside of the coverage area.  Otherwise, you will forever be looking for the least expensive healthcare system in the world.

Listed below is a selection of countries ranked by their medical costs: 

• 1: Worldwide - USA.

• 2: Hong Kong - Israel.

• 3: Bahrain - Greece - Guatemala - Honduras - Mexico.

• 4: Costa Rica - United Kingdom.

• 5: Antigua - Argentina - Bahamas - Bangladesh - Barbados - Belize - Bermuda - Bolivia - Brazil - British Virgin Islands - Cayman Islands - Chile - China - Cuba - Dominican Republic - Ecuador - El Salvador - Gibraltar - Guyana - Indonesia - Iran - Iraq - Ireland - Italy - Jamaica - Kenya - Kuwait - Lebanon - Liechtenstein - Macedonia - Monaco - Mongolia - Netherland Antilles - Nicaragua - Panama - Paraguay - Peru - Portugal - Qatar - Russian - Saudi Arabia - Singapore - Spain - St.Kitts&Nevis - St.Lucia - St.Martin - St.Vincent - Suriname - Switzerland - Syria - Trinidad&Tobago - Turks&Caicos - UAE - Uruguay - Venezuela - Yemen.

• 6: Andorra - Armenia - Australia - Austria - Belarus - Belgium - Bhutan - Bulgaria - Burkina Faso - Burundi - Canada - Central African Republic - Congo - Cyprus - East timor - Equatorial Guinea - Estonia - Fiji - Finland - France - Gabon - Georgia - Germany - Guam - Jordan - Kiribati - Korea - Kyrgyzstan - Laos - Latvia - Lesotho - Liberia - Libya - Lithuania - Macau - Malawi - Maldives - Marshall Islands - Mauritius - Micronesia - Moldova - Myanmar - Namibia - Nauru - Nepal - Niger - Nigeria - Oman - Palau - Rwanda - Samoa - San Marino - Sao Tome - Senegal - Seychelles - Sierra Leone - Solomon Islands - Somalia - South Africa - Sudan - Swaziland - Tajikistan - Tanzania - Thailand - Tonga - Tunisia - Turkey - Turkmenistan - Tuvalu - Uganda - Ukraine - Uzbekistan - Vanuatu - Vietnam - Yugoslavia - Zambia - Zimbabwe.

• 7: Afghanistan - Algeria - Azerbaijan - Benin - Bosnia - Botswana - British Virgin islands - Cambodia - Cameroon - Cape Verde - Chad - Croatia - Czech Republic - Denmark - Djibouti - Gambia - Ghana - Guinea - Guinea-Bissau - Hungary - Iceland - Ivory Coast - Japan - Kazakhstan - Luxembourg - Madagascar - Malaysia - Malta - Mauritania - Morocco - New Zealand - Pakistan Papua - Papua New Guinea - Philippines - Poland - Romania - Slovakia - Slovenia - Togo.

• 8: Angola - Comoros - Egypt - Eritrea - Ethiopia - Mali - Mozambique - Netherlands - Norway - Sri Lanka - Sweden.

Remembering that these countries are ranked for 1 to 8, with 1 being the most expensive, you can see that there is a big difference in the costs between countries.  It is important to remember however, that even in countries with the lowest average cost associated with their medical services; the highest quality treatment will still be very expensive.  So even if an individual is trying to find the cheapest medical system in the world, in many cases they may be substituting high quality for low cost.

It is always important to take care of the health of yourself and your loved ones, even if you live in a nation or area that is not expensive in terms of healthcare. Not guaranteeing yourself that you will always receive the highest quality care can be risky, and potentially dangerous.  Talk to an insurance specialist and think about getting an international health insurance plan today.

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