Travel Insurance: Don't Leave Home Without It

You’ve been planning (and dreaming about) your summer trip abroad for months. The last thing on your mind is doctors, hospitals and large medical bills. But your risk of being injured or sick doesn’t go on vacation just because you do.

Things can go wrong, and without the right health insurance, your dream vacation could turn into a financial nightmare.

“Wait,” you say. “I already have health insurance. Isn’t that enough?”

It may not be. While some health insurance plans pay for limited medical expenses outside of the country, not all of them do. Even the government’s Medicare program puts its foot down to extending its coverage internationally, denying “coverage for hospital or medical costs outside the U.S.A.”

First, check your existing coverage. Does it cover medical expenses outside of the U.S.? Does it cover all the family members traveling with you? Many companies will cover what they consider “reasonable and customary” expenses incurred abroad… but if you need an emergency medical evacuation back to U.S. facilities, you could be stuck with the bill. Medical evacuations typically come with a $10,000 or higher price tag.

Take proof of insurance with you. If your insurance does cover you abroad, make sure you bring your plan ID card as proof, and a blank claims form. Tuck them (and any other important documents) into your carry-on luggage so they stay with you, even if the rest of your luggage doesn’t.

Insuring Your Trip

You can purchase insurance to protect you during your trip, whether you’re uninsured now, or just need to supplement your current health insurance policy.

There are two basic types of medical travel coverage to choose from:

• Accident/Sickness Medical Expenses. Covers any expenses you run into due to injury or illness on your vacation.

• Medical Evacuation. Covers your transportation for a medical emergency that calls for evacuation to a hospital.

Each type of medical coverage can be purchased separately, but are often bundled together. These packages can include extra benefits like trip cancellation or interruption coverage.

Shop Around.
Don’t go with the first travel policy you see — even if it does seem the most convenient option at the time. Prices and packages for travel insurance vary, and you may uncover significant savings with a little comparison shopping.

For a list of travel insurance companies compiled by the U.S. Department of State, visit their website here.