International travel medical insurance deductible

When choosing the best travel medical insurance deductible, understanding the difference between a deductible per incident and a deductible per policy period is important to make an informed decision.

A deductible per incident means you must pay the deductible amount for each new illness or injury you experience during your trip before the insurance coverage begins for that particular incident. The deductible per incident or sickness could be paid multiple times. While multiple incidents are not common, but it is a factor to consider especially in longer trips or for older travelers.

• This is common in fixed benefit plans and can lead to multiple out-of-pocket payments during your trip if you need medical care for different health issues.
• Travel medical insurance plans with this type of deductible often have lower premiums.
• Policies that offer coverage for pre-existing conditions on a per incident basis often include a maximum lifetime limit for those conditions.

For example, If you have a $250 deductible per incident and fall ill twice on your trip, you have to pay $250 for the first illness and another $250 for the second before your insurance starts covering those expenses.

A deductible per policy period means you to pay the deductible only once for the entire duration of your travel insurance policy, no matter how many times you need medical care.

• This type of deductible is common in comprehensive travel insurance plans, making it easier to estimate your total out-of-pocket cost and to manage their budgets.
• Travel health insurance plans with a per-policy period deductible may have higher premiums compared to policies with a per-incident deductible.
• There can be additional deductibles for specific services like emergency room visits or maternity care.

For example, if your travel medical insurance policy has a $250 deductible per policy period and is valid for six months, and you fall sick or get injured multiple times during that period, you need to pay the first $250 of your total eligible medical expenses once, and the insurer covers the rest of the eligible expenses (up to the policy maximum).

When choosing a deductible, it's important to find a balance that suits your individual needs and financial situation:

• Check your financial ability to cover the deductible: Make sure you can afford to pay the deductible amount out-of-pocket if you do need medical care while traveling.
• Longer Trips/Multiple Medical Needs: For longer trips or if you have pre-existing conditions that may require care, a lower deductible could reduce the financial burden if you need to make multiple claims.
• Trip Cost and Destination: If you are traveling to USA with expensive healthcare, a lower deductible might offer better peace of mind.
• Premium Affordability: Compare the premiums for different deductible levels and choose one that fits your budget without compromising necessary coverage.

By carefully considering these factors, you can choose the best travel medical insurance deductible that helps manage both your upfront insurance costs (premiums) and potential out-of-pocket expenses for medical care during your trip.

A deductible in a travel medical insurance policy impacts the cost of your insurance premium. Here's how it affects the cost:

• Higher deductible Lower premium: If you choose a higher deductible, typically results in lower monthly or upfront premiums for your travel medical insurance policy.
• Higher deductible Lower premium: A lower deductible means the insurer takes on more risk, so your premium will be higher.
• $0 deductible Immediate coverage: Some plans offer a $0 deductible option, where the travel insurance starts paying for eligible costs right away, but this usually comes with a higher premium.