Due to increased interest and demand, we are now able to offer a range of high quality short term health plans to clients. These customisable premium plans have been arranged between top insurers and our advisers here at CHI to give the best possible cover to those of you who are spending a significant amount of time overseas. Short term plans provide temporary cover for anything up to 12 months, and are a great way of providing you with security regarding your healthcare during your stay abroad. To find out more about these temporary health insurance plans, or to get a quote for a policy, contact one of our advisors today and we will be happy to talk you through your options.

What is a Short Term Health Plan?

A short term health plan provides you with cover during an overseas stay for between 1 and 12 months. These policies are entirely customisable and can provide you with a full range of benefits, just as a normal healthcare plan would, but for only the time you need to be covered for. Let’s take a more in-depth look at the aspects of a temporary health insurance policy.

Benefits:

Customisable benefits make short term health plans the most sought after and best option for you if you’re going to be spending time overseas. You can get coverage on these policies for as little or as many benefits as you desire. If you will be spending your time overseas in a place with good quality healthcare, or will only be overseas for a short time, you may only want to get insured for minimal in-patient treatments. However, if you’re going to be spending closer to a year in a place with a high risk of injury, or low quality of healthcare, then you may wish to opt for more in-depth benefits including e.g. evacuation cover.

Plan Length:

The ability to choose the length of time you want cover for is a crucial factor that makes these plans ideal for those of you spending time overseas. Short term health insurance plans run from between 1 to 12 months, and have the ability to be extended if needed. This means that if your studies, work placement overseas, or your holiday travels are going to run longer than you initially thought, you can simply extend your coverage. As an added bonus, it is possible with some insurers to transfer your short term plan into a fully functioning long-term health insurance plan that you can take home with you once your travels have finished. This then becomes your primary health insurance plan that you can renew annually.

Area of Coverage:

As part of the customisability of a short term plan, you can also choose the area you can receive treatment in. This means that your treatment options aren’t limited to the country you will be staying in. If you know that a neighbouring country has a high quality of premium healthcare, then make sure to have your coverage area extended to include this country, and if/when you need treatment you can go there. This is especially beneficial if the country you will primarily be in doesn’t have a good quality of healthcare, or if you are planning on visiting multiple countries whilst travelling. Beware though that the larger your area of coverage, the higher your premiums will be. One exception to selecting your area for coverage is if you need coverage in the USA. USA health insurance is expensive and must be purchased as a separate plan. For information on coverage in America, see here.

Premiums:

The two major factors that will affect your premium rate are the length of time of your plan and the extent of your coverage (both of which are discussed above). A plan with more benefits will obviously lead to a higher premium. As will a plan that has a wider area of coverage for where you can get treatment. Furthermore, location in general can affect your premium, as the same policy taken out somewhere in South East Asia will typically be cheaper than if you took out the same policy in the United States, where healthcare is much more expensive. If your premium costs are a big concern, let us know what your budget is, and what your minimum coverage requirements are and we’ll be happy to help find you a plan that accommodates what you need.

Who Needs A Short Term Health Plan?

The increased demand for short term health plans can largely be attributed to people having a more mobile lifestyle these days. Those of you that may want to consider an insurance plan for less than a year include; if you are going to be working abroad for any length of time, if you are travelling for more than a month, if you’re visiting/staying with family overseas, or if you are going to be studying abroad for anything up to a year.

While you are on your trip, you will need some form of insurance in case of any accident or injury that may occur. Travel insurance is an alternative option that is available to you for overseas insurance coverage, however this form of insurance is limited in its coverage capabilities, and is not as comprehensive nor as customisable and expansive as a short term health plan. It is important to take a closer look at the differences between travel insurance and short term insurance.

Why Not Just Get Travel Insurance?

Here we will outline the aspects of a typical travel insurance policy, and then compare it with a short term health insurance policy so you can see when it is better to get travel insurance, and the advantages that a short term policy offers.

Level of Coverage

A travel insurance policy has much lower levels of coverage than a short term health insurance policy. Travel insurance policies typically cover you for limited in-patient treatment, and exclude any treatments for pre-existing conditions. While the extent of coverage differs based on the specific travel insurance plan you choose, a short term health insurance policy provides you with many more options, and a much more extensive range of coverage choices due to the ability to customise the plans.

Area of Coverage

With a travel insurance policy, you will find that if you need extensive treatment your insurer will try and have you relocated to a medical health facility or hospital back in your home country. This means that you will then be covered under a home insurance plan, and will no longer be receiving treatment through your travel insurer. Conversely, a short term plan, as we have discussed, lets you choose where and how you can receive treatment. So you can select to remain in the country you’re visiting to receive treatment, can visit a neighbouring country with premium quality health facilities, or if you would rather return home for the comfort of familiarity, this too is possible. With a short term health plan, the choice is yours.

“Travel Insurance is not as comprehensive nor as

customisable and expansive as a short term health plan”

Billing Options

To some of you, how you pay for your medical treatments with insurance may be an important factor. Travel insurance policies offer no ability to pay through direct billing, whereby your insurer covers the costs with the hospital or medical facility directly. Instead, you will have to have sufficient money on hand to cover the costs of treatment, which you then claim back at a later date with your insurer. However, with a temporary health insurance plan, if you want to be able to pay through direct billing, we can help you to select an insurer through whom this would be possible.

When to Buy

A travel insurance policy must be purchased before you set off for your destination. Contrastingly, you can buy a short term health insurance plan whenever you need to, and can arrange the length of coverage for as many or as few months as you need between 1 and 12 months. You also have the ability to extend your coverage if you will need your plan for longer than you initially thought.

The flexibility, extensiveness, and customisability of these insurance plans compared with a travel insurance plan makes them ideal for individuals and families who are going to be staying overseas for a considerable amount of time.

How To Choose an Insurer?

With an increase in public demand for a short term health insurance plan, there are a number of insurers offering good plans for you to choose from. We here at CHI have used the relationships we have garnered with the world’s leading insurers to bring you some of the best available health insurance plans. We can offer you a quality range of benefits, and even some custom plans available only through us.

The best way to pick between the multitude of insurers that are available is to talk to us, one of our insurance intermediaries will be happy to help you make your decision. We will find out what it is you want from your short term health insurance plan along with your budget, and then can compile a list of top quality plans for you to choose from. If you need any further advice from us, we will be here throughout the whole process to ensure that you end up with the right plan for your needs and desires. This means you can go on your trip knowing that you will be covered for any eventuality you encounter.

Be sure to fill out a quote form if an insurance plan for between 1 and 12 months sounds like something you will be needing. If you want any advice, don’t hesitate to contact us and we can help you to find the best plan possible.