Visitors to the US can purchase visitor medical insurance plans designed specifically for them. Every plan is different, so you cannot compare them solely on cost. Before buying a plan you must research all the benefits and exclusions carefully.
1. Comprehensive plans and Fixed benefit plans: This is a big difference between plans. Comprehensive plans are more expensive than the fixed benefit plans. Comprehensive plans provide coverage up to the policy maximum. For expenses up to the plan limit out of pocket expenses are capped to the deductible and the co insurance. Fixed benefit plans have certain pre set maximum that will be paid for each eligible expense. A policy that offers a total $100,000 benefit may have a limit of $2000 for surgery, $500 for x rays, lab work etc.
2. Co insurance: It defines the split of expenses between the insurance company and the insured. If the percentage the insured person pays is higher, the plan premium is lower. For example if the plan has a 70/30 co insurance rate, the insured pays 30% of the eligible expenses and 70% is paid by the insurance company. There can sometimes be a cap on the co-insurance. Beyond that amount eligible expenses can be covered 100%.
3. Deductible: It is the amount that must be paid by the insured before the insurance company pays for any covered service. Once the deductible is met the insurance will cover eligible expenses. The higher the deductible, lower the premium.
4. Coverage for pre existing conditions: Pre existing conditions are usually not covered by visitor medical insurance plans. Pre existing conditions are defined differently by each insurance company. For the plan you are looking to purchase make sure you understand how they are defined. In some cases the definition includes only those medical conditions that the insured was aware of prior to the start of the plan and was receiving treatment or medication. Some other plans may have a broader classification to include all conditions that manifested prior to the start of the plan even if the insured was not aware of their existence.
5. Maximum coverage amount: This is also called policy maximum. It is the maximum amount the insurance company will pay for all the claims during the time period. A higher plan limit will have higher premiums.
Talk to your visitor travel health insurance specialist for more tips and advice on selecting the right plan for you. Compare prices for plans that offer the same level of benefits. Do not end up without health insurance.