Europe is a top destination for expats and global nomads, especially over the past few years with many European countries such as Italy, Portugal and Greece providing some very attractive tax advantages for retirement and remote lifestyle. Living in Europe as an expatriate is definitely worth it, but you also have to prioritize your health and well-being.
It can be quite daunting navigating the complex healthcare systems in European countries and an uninsured medical claim can have serious financial and health implications. This is why having comprehensive international health insurance is vital.
Let’s explore the eight most important health insurance tips for expats in Europe, helping you make informed decisions and ensure access to quality healthcare during your stay.
1. Research local healthcare systems & visa health insurance requirements
Before settling in a European country, take the time to research and understand its healthcare system as many European countries have varied healthcare models, ranging from fully public systems to a combination of public and private options. You may have to participate in a mandatory government system, such as the NHS in the UK, but may still need to supplement it with your own private coverage.
Many European countries, such as Spain and Portugal, require long-term expats to provide proof of international health insurance coverage. You can usually apply up to 45 days prior to moving to the EU or you can apply once there. Local coverage options may not be available or desirable and these won’t cover you back in your home country, but a global health plan can.
2. Choose comprehensive coverage
When selecting international health insurance, you should try to prioritize comprehensive coverage that meets your specific needs. Most healthcare plans for expats will have a base coverage for hospitalization, but you can add optional outpatient coverage to cover specialist consultations, prescription medications, and preventive care.
Note that maternity coverage might be available, but only after a 12-month waiting period. Some expats will also buy optional vision and dental care. Most global health plans will be portable and provide coverage across multiple countries in Europe, allowing you to travel and seek treatment in different nations if necessary.
3. Buy a plan from a reputable source and advisor
Yes an international healthcare plan is not cheap and you usually get what you pay for, but getting a quote via an independent international health insurance advisor such as Expat Financial can help you decide which global health plan is best for your requirements and help refer you to a secure and capable global health insurance company that can be there when you need it, but also for the long term.
The premium is the same whether you go direct or not and if there’s a claims issue in the future, the broker can assist you at no cost. They usually also have a lot of clients and claims support teams who can advocate on your behalf before and after you buy a plan.
4. Evaluate pre-existing conditions
Most people will have at least one pre-existing medical condition and the insurers will have an online application you will have to complete. Their underwriters will evaluate the conditions and come back to you with an offer to cover them, an exclusion or in some cases decline to cover you. Make sure you are truthful and transparent and provide as much detail as possible when applying as you don’t want to leave any questions in their mind. A letter from your primary care physician detailing your condition and treatment to facilitate a smoother insurance application.
5. Buy an insurance plan that can cover you for life
If you are retiring in Europe, make sure you buy a global health plan that can cover you for life as some plans will limit care or cancel after age 75. There are some great policies that can cover you for life as long as you remain an expat and stay outside your country of citizenship at least 6 months per year. A few insurers can even cover people of any age.
6. Buy a policy with a large medical network
It often makes sense to familiarize yourself with the insurer’s network of healthcare providers and see if they have hospitals in your destination city. Network providers have agreements with expat insurers, allowing for direct payment between the two parties. This may eliminate the need for you to pay upfront and seek reimbursement later.
Most out-patient claims are paid by the insured and then reimbursed by the insurance company. If you need to visit a hospital, you may also want to advise the insurance company and ask for a guarantee of payment if that hospital is not in the network.
7. Check the fine print
Take the time to compare premiums, deductibles, and exclusions between different international health insurance plans. Look for plans that provide emergency medical evacuation, repatriation, and 24/7 customer support and reimbursement in multiple currencies. Additionally, review the policy’s exclusions to understand the limitations and potential gaps in coverage.
8. Ask how you can lower your global health premiums
Your expat insurance advisor can give you some tips on how to lower your monthly premiums. Here are a few suggestions for optimizing your insurance premiums:
- Pay annually versus monthly can lower your monthly premiums by about 10%
- Get a larger deductible, which lowers the risk to the insurer and can lower your premium
- Buy a plan that excludes the USA, especially if you have Medicare back in the US
- Buy Hospital only coverage and self-insure other costs
- Get a basic entry level policy as most insurers have several plan levels
Final thoughts for future European expats
Securing comprehensive international health insurance is essential for expats who plan on living in Europe. By researching local healthcare systems, choosing comprehensive coverage, evaluating pre-existing conditions, understanding network and direct billing, and comparing premiums and exclusions, you can make informed decisions to safeguard your health and well-being abroad.
It makes sense to prioritize your insurance needs as this will allow you to concentrate on enjoying your life in Europe. No plan can cover everything and everyone, so make sure you consult with an insurance expert and consider professional advice to find the most suitable international health insurance plan for your specific circumstances.
