Seven Rules To Follow Before Purchasing An International Medical Plan
#1 Avoid International Medical Insurance Companies Who Delay Claim Reimbursement (Many companies state in their rules that they may have up to 6 months or more to make a decision about your medical claim. A hospital or provider could turn a member into collections and come after you!) Demand to see what the policies read in writing.
#2 Avoid International Medical Insurance Companies who use General Agents to communicate with their members regarding medical claims and coverage, this is unacceptable. These same companies have no issue contacting a member directly regarding payments but refer claim denials to a “Third Party Agent” who does the dirty work. Brokers and Agents are forced to work through these General Agents. (VUMI has done this in the past. They forced agents to work through these agencies, please avoid this company at all cost.)
#3 Agency / Broker Commissions – Did you know that these Insurance companies pay up to 30% of your annual premium to brokers and agents? Paying over 20% is ridiculous and so many agents and brokers are not even licensed and very often simply refer you back to the same company who denies a claim with no justification. Ask your agent / broker how much he or she is getting paid. This is why so many agents continue to sell companies who do a horrible job with medical claims and member servicing, like IMG & VUMI and others. (Contact our office for a list)
VUMI pays up to 30% in commissions, avoid!
#4 Licensed & Bonded- Check to see if your agent / broker is licensed & bonded? So many International Medical Insurance companies do not require this outside of Canada & the USA. So many employees are making decisions about your healthcare with no license or true international experience. Using a Call Center is no excuse.
#5 Coverage Details and Possible Claim Denials- Check your proposed Medical Plan. While many plan options may include coverage like Cancer and Disease, the truth is that so many “hold up” or “stagger” paying claims for other than Accident & Emergency claims forcing a member to pay an overseas hospital directly and requiring a member to beg for reimbursement for their thousands spent. These insurance companies typically underwrite a member again once an non Accident or Emergency claim comes in the door, searching for pre-existing conditions, asking for medical records. Accident & Emergency coverage is offered at much lower cost than a full blown 12 month comprehensive cost. Don’t be fooled!
#6 Avoid International Medical Insurance Companies who don’t have good reviews.
Go online and research. So many reviews are fake. Paying claims for disease and cancer is important. The WEA plan had great reviews and marketing online but was actually committing fraud by collecting annual premiums knowing they were going under. They left so many members with nothing after paying for their annual coverage (bankrupt out of the Caymans).
#7 Avoid International Medical Insurance Companies who Do Not Medically Underwrite.
I can’t say this enough. Some companies, like IMG, have practiced this in the past. You need to know exactly what IS covered and NOT covered before accepting and paying for an overseas plan.
These rules are merely suggestions based on 25 years in the business. We do not offer every insurance company under the sun for a reason, so many don’t pay claims.
Contact OffshoreHealthBenefits.com for a list of reputable companies and our dirty list. Don’t get taken! We are also available on WhatsApp 7 days a week: 5122964976 and email@example.com