
Ahoy there, yachties!
Navigating the high seas of international health insurance can be as tricky as manoeuvring a superyacht through narrow marina berths. But fear not! We’re here to make sense of the jargon so you can understand your policy inside and out. Knowing these key terms will help you feel confident about your coverage and avoid any unpleasant surprises. Let’s dive in!
1. Global Telehealth Service
Picture this: you’re anchored off the Amalfi Coast, and you’ve got a nagging health concern. With global telehealth, you can consult a doctor remotely from anywhere in the world. It’s like having a medical professional on speed dial, no matter where you dock.
2. Chronic Condition
These are long-term health issues like diabetes, asthma, or hypertension that require ongoing management. Make sure your policy covers these conditions to ensure peace of mind while sailing the world.
3. Area of Cover
Do you plan to sail exclusively in Europe, or are you venturing further afield to the Caribbean or Pacific Islands? The “area of cover” defines where your insurance policy will protect you. Keep in mind that broader coverage areas often come with higher premiums.
4. Pre-Authorisation
This one’s crucial. If you need a medical procedure like a knee operation, pre-authorisation ensures your insurer guarantees payment to the hospital before the surgery. Without this step, you might be left footing the bill or dealing with unnecessary delays. Always check your policy’s pre-authorisation requirements.
5. In-Patient Treatment
This refers to medical care that requires you to stay overnight in a hospital or that is done in hospital. Examples include surgeries ,treatments that need close monitoring or getting stiches in your head. Make sure your policy specifies the extent of in-patient coverage.
6. Out-Patient Treatment
Think of out-patient treatment as medical care that doesn’t require an overnight stay. This could include doctor visits, diagnostic tests, or minor procedures—a must-have for everyday health needs. You typically have to add on out-patient cover as the most basic international health insurance plans cover only hospital treatments.
7. Emergency Treatment
When unexpected health issues arise or accidents, emergency treatment covers urgent medical care to stabilise your condition. This is especially important if you’re in a remote area and need immediate attention.
8. Pre-Existing Medical Conditions
These are health issues you had before your policy started. Some insurers may exclude coverage for these conditions, while others might include them after a waiting period. Understanding this term is essential to knowing what your policy covers.
9. Emergency Medical Transport
Picture needing urgent medical attention while docked in a secluded bay. Emergency medical transport ensures you’re airlifted or transported to the nearest suitable hospital. It’s a lifesaver—literally.
10. Excess
The excess is the amount you’re required to pay out of pocket before your insurance kicks in. Choosing a higher excess can lower your premium, but make sure it’s an amount you’re comfortable covering.
11. Premium Instalments
Instead of paying your insurance premium as a lump sum, some providers allow you to break it into smaller, more manageable payments. Perfect for keeping your finances shipshape!
12. Nationality
Your nationality can affect your policy’s terms and pricing. Some countries’ residents may face higher premiums due to local healthcare costs or insurance regulations.
13. Renewal Terms
Okay, we’re adding a bonus term because it’s vital. Always understand your policy’s renewal terms. Are there premium increases? Will your coverage change? Renewal terms ensure you’re not caught off guard when it’s time to renew. Some providers give discounts if you renew your policy after a year and did not claim the previous year.. a pretty great deal if you ask us!
Why Understanding These Terms Matters
Your international health insurance policy is your safety net, ensuring you’re covered for life’s unexpected twists and turns while working or traveling as a yachtie. Familiarizing yourself with these terms helps you:
- Fully understand your coverage.
- Avoid misunderstandings or unexpected costs.
- Make informed decisions about your health and finances.
International health insurance doesn’t have to be intimidating. By mastering these 13 terms, you’ll sail confidently into any health situation, knowing you’re covered.
Need help choosing the right policy or deciphering the fine print? Drop anchor and reach out to us for free quotes and expert advice. We’re here to help you navigate your options and ensure smooth sailing ahead!
Clarity Employee Benefits is an authorized Financial Services Provider (FSP No. 51007). We’re ready to provide you with expert yachtie health insurance guidance and advice.